Plug Power Successfully Completes SEC Settlement and Continues Commitment to Green Hydrogen Economy
Key Ideas
- Plug Power has successfully fulfilled its undertakings in connection with the SEC settlement, including remediating material weaknesses.
- CEO Andy Marsh expresses satisfaction with the completion and reaffirms the company's dedication to compliance and governance best practices.
- Plug Power is a key player in the development of the green hydrogen economy, providing comprehensive solutions for hydrogen production, storage, and delivery.
Plug Power Inc., a major player in green hydrogen solutions, has announced the successful completion of the requirements set by the U.S. Securities and Exchange Commission (SEC) following a civil administrative proceeding. Plug's CEO, Andy Marsh, expressed contentment with the resolution and reiterated the company's focus on maintaining compliance and governance standards. Plug Power is actively involved in establishing a green hydrogen ecosystem, offering services from hydrogen production to energy generation to support customer decarbonization efforts. With over 69,000 fuel cell systems deployed worldwide, Plug Power boasts a significant presence in the hydrogen market. The company is also heavily investing in infrastructure, planning a green hydrogen highway spanning North America and Europe. Additionally, Plug has constructed a Gigafactory to manufacture electrolyzers and fuel cells, with green hydrogen production plants set for operation by 2028. By providing green hydrogen solutions for various applications like material handling, e-mobility, and power generation, Plug aims to drive the transition towards a more sustainable economy.