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    Amendment: SEC Form SC 13D/A filed by Plug Power Inc.

    11/6/24 4:01:19 PM ET
    $PLUG
    Industrial Machinery/Components
    Energy
    Get the next $PLUG alert in real time by email
    SC 13D/A 1 tm2427577d1_sc13da.htm SC 13D/A

     

     

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    Washington, D.C. 20549

     

    SCHEDULE 13D

    Under the Securities Exchange Act of 1934

    (Amendment No. 2)*

     

    Plug Power Inc.

    (Name of Issuer)

     

    Common Stock, par value $0.01 per share

    (Title of Class of Securities)

     

    72919P202

    (CUSIP Number)

     

    Wonsang Cho

    SK Inc. (formerly known as SK Holdings Co., Ltd.)

    26, Jong-ro, Jongno-gu

    Seoul, The Republic of Korea

    Tel: +82-2-2121-5114

     

    with a copy to:

     

    Albert Chung

    Baker McKenzie & KL Partners Joint Venture Law Firm

    17/F, East Wing, Signature Tower
    100 Cheonggyecheon-ro

    Jung-gu

    Seoul, The Republic of Korea

    Tel: +82-2-6137-6800

    (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

     

    November 4, 2024

    (Date of Event Which Requires Filing of this Statement)

     

    If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ¨

     

    Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

     

    * The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

    The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

     

     

     

     

     

     

    CUSIP No. 72919P202

    1 NAMES OF REPORTING PERSONS    
    Grove Energy Capital LLC    
       
    2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ¨
      (b) x
       
    3 SEC USE ONLY    
         
       
    4 SOURCE OF FUNDS (SEE INSTRUCTIONS)    
    OO    
       
    5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)   ¨
         
       
    6 CITIZENSHIP OR PLACE OF ORGANIZATION    
    Delaware    
       

    NUMBER OF
    SHARES
    BENEFICIALLY
    OWNED BY
    EACH
    REPORTING
    PERSON WITH
    7 SOLE VOTING POWER    
    0    
       
    8 SHARED VOTING POWER    
    54,966,188    
       
    9 SOLE DISPOSITIVE POWER    
    0    
       
    10 SHARED DISPOSITIVE POWER    
    54,966,188    
       

    11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    
    54,966,188    
       
    12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)   ¨
         
       
    13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)    
    6.2%    
       
    14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)    
    OO    
       

     

     

     

     

    CUSIP No. 72919P202

    1 NAMES OF REPORTING PERSONS    
    Plutus Capital NY, Inc.    
       
    2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ¨
      (b) x
       
    3 SEC USE ONLY    
         
       
    4 SOURCE OF FUNDS (SEE INSTRUCTIONS)    
    OO    
       
    5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)   ¨
         
       
    6 CITIZENSHIP OR PLACE OF ORGANIZATION    
    Delaware    
       

    NUMBER OF
    SHARES
    BENEFICIALLY
    OWNED BY
    EACH
    REPORTING
    PERSON WITH
    7 SOLE VOTING POWER    
    0    
       
    8 SHARED VOTING POWER    
    54,966,188    
       
    9 SOLE DISPOSITIVE POWER    
    0    
       
    10 SHARED DISPOSITIVE POWER    
    54,966,188    
       

    11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    
    54,966,188    
       
    12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)   ¨
         
       
    13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)    
    6.2%    
       
    14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)    
    CO    
       

     

     

     

     

    CUSIP No. 72919P202

    1 NAMES OF REPORTING PERSONS    
    PassKey, Inc.    
       
    2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ¨
      (b) x
       
    3 SEC USE ONLY    
         
       
    4 SOURCE OF FUNDS (SEE INSTRUCTIONS)    
    OO    
       
    5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)   ¨
         
       
    6 CITIZENSHIP OR PLACE OF ORGANIZATION    
    Delaware    
       

    NUMBER OF
    SHARES
    BENEFICIALLY
    OWNED BY
    EACH
    REPORTING
    PERSON WITH
    7 SOLE VOTING POWER    
    0    
       
    8 SHARED VOTING POWER    
    54,966,188    
       
    9 SOLE DISPOSITIVE POWER    
    0    
       
    10 SHARED DISPOSITIVE POWER    
    54,966,188    
       

    11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    
    54,966,188    
       
    12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)   ¨
         
       
    13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)    
    6.2%    
       
    14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)    
    CO    
       

     

     

     

     

    CUSIP No. 72919P202

    1 NAMES OF REPORTING PERSONS    
    PNES Investments, LLC    
       
    2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ¨
      (b) x
       
    3 SEC USE ONLY    
         
       
    4 SOURCE OF FUNDS (SEE INSTRUCTIONS)    
    OO    
       
    5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)   ¨
         
       
    6 CITIZENSHIP OR PLACE OF ORGANIZATION    
    Delaware    
       

    NUMBER OF
    SHARES
    BENEFICIALLY
    OWNED BY
    EACH
    REPORTING
    PERSON WITH
    7 SOLE VOTING POWER    
    0    
       
    8 SHARED VOTING POWER    
    54,966,188    
       
    9 SOLE DISPOSITIVE POWER    
    0    
       
    10 SHARED DISPOSITIVE POWER    
    54,966,188    
       

    11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    
    54,966,188    
       
    12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)   ¨
         
       
    13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)    
    6.2%    
       
    14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)    
    OO    
       

     

     

     

     

    CUSIP No. 72919P202

    1 NAMES OF REPORTING PERSONS    
    SK E&S Americas, Inc.    
       
    2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ¨
      (b) x
       
    3 SEC USE ONLY    
         
       
    4 SOURCE OF FUNDS (SEE INSTRUCTIONS)    
    OO    
       
    5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)   ¨
         
       
    6 CITIZENSHIP OR PLACE OF ORGANIZATION    
    Delaware    
       

    NUMBER OF
    SHARES
    BENEFICIALLY
    OWNED BY
    EACH
    REPORTING
    PERSON WITH
    7 SOLE VOTING POWER    
    0    
       
    8 SHARED VOTING POWER    
    54,966,188    
       
    9 SOLE DISPOSITIVE POWER    
    0    
       
    10 SHARED DISPOSITIVE POWER    
    54,966,188    
       

    11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    
    54,966,188    
       
    12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)   ¨
         
       
    13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)    
    6.2%    
       
    14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)    
    CO    
       

     

     

     

     

    CUSIP No. 72919P202

    1 NAMES OF REPORTING PERSONS    
    SK E&S Co., Ltd.    
       
    2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ¨
      (b) x
       
    3 SEC USE ONLY    
         
       
    4 SOURCE OF FUNDS (SEE INSTRUCTIONS)    
    OO    
       
    5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)   ¨
         
       
    6 CITIZENSHIP OR PLACE OF ORGANIZATION    

    The Republic of Korea

       
       

    NUMBER OF
    SHARES
    BENEFICIALLY
    OWNED BY
    EACH
    REPORTING
    PERSON WITH
    7 SOLE VOTING POWER    
    0    
       
    8 SHARED VOTING POWER    
    0*    
       
    9 SOLE DISPOSITIVE POWER    
    0*    
       
    10 SHARED DISPOSITIVE POWER    
    0*    
       

    11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    
    0*    
       
    12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)   ¨
         
       
    13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)    
    0*    
       
    14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)    
    CO    
       

     

    *Effective November 4, 2024, pursuant to the Merger Agreement described in Item 6 of this Amendment No. 2, SK E&S Co., Ltd.'s (“SK E&S”) beneficial ownership in the Ordinary Shares of the Issuer was transferred to SK Innovation Co., Ltd. (“SK Innovation”). Accordingly, SK E&S no longer has beneficial ownership of any Ordinary Shares of the Issuer. This Amendment No. 2 constitutes an exit filing for SK E&S.

     

     

     

     

    CUSIP No. 72919P202

    1 NAMES OF REPORTING PERSONS    
    SK Innovation Co., Ltd.    
       
    2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ¨
      (b) x
       
    3 SEC USE ONLY    
         
       
    4 SOURCE OF FUNDS (SEE INSTRUCTIONS)    
    OO    
       
    5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)   ¨
         
       
    6 CITIZENSHIP OR PLACE OF ORGANIZATION    

    The Republic of Korea

       
       

    NUMBER OF
    SHARES
    BENEFICIALLY
    OWNED BY
    EACH
    REPORTING
    PERSON WITH
    7 SOLE VOTING POWER    
    0    
       
    8 SHARED VOTING POWER    
    54,966,188    
       
    9 SOLE DISPOSITIVE POWER    
    0    
       
    10 SHARED DISPOSITIVE POWER    
    54,966,188    
       

    11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    
    54,966,188    
       
    12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)   ¨
         
       
    13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)    
    6.2%    
       
    14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)    
    CO    
       

     

     

     

     

    CUSIP No. 72919P202

    1 NAMES OF REPORTING PERSONS    
    SK Inc. (formerly known as SK Holdings Co., Ltd.)    
       
    2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ¨
      (b) x
       
    3 SEC USE ONLY    
         
       
    4 SOURCE OF FUNDS (SEE INSTRUCTIONS)    
    OO    
       
    5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)   ¨
         
       
    6 CITIZENSHIP OR PLACE OF ORGANIZATION    
    The Republic of Korea    
       

    NUMBER OF
    SHARES
    BENEFICIALLY
    OWNED BY
    EACH
    REPORTING
    PERSON WITH
    7 SOLE VOTING POWER    
    0    
       
    8 SHARED VOTING POWER    
    54,966,188    
       
    9 SOLE DISPOSITIVE POWER    
    0    
       
    10 SHARED DISPOSITIVE POWER    
    54,966,188    
       

    11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    
    54,966,188    
       
    12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)   ¨
         
       
    13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)    
    6.2%    
       
    14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)    
    CO    
       

     

     

     

     

    Item 1. Security and Issuer

     

    Item 1 of the Existing Schedule 13D is hereby supplemented as follows:

     

    This Amendment No. 2 to the statement on Schedule 13D ("Amendment No. 2") amends the statement on Schedule 13D originally filed on March 8, 2021, as amended by Amendment No. 1 to the statement on Schedule 13D filed on May 11, 2022, (as so amended, the "Existing Schedule 13D"). Capitalized terms used and not defined in this Amendment No. 2 have the meanings ascribed in the Existing Schedule 13D. The name, business address, present principal occupation and citizenship of each executive officer and director of SK Innovation is set forth on Schedule I attached hereto.

     

    This Amendment No. 2 is being filed to add SK Innovation as a Reporting Person as a result of a merger with SK E&S, with SK Innovation being the surviving entity, and constitutes an exit filing for SK E&S. This Amendment No. 2 is being filed on behalf of (i) Grove Energy Capital LLC, a Delaware limited liability company (“Grove Energy”), (ii) Plutus Capital NY, Inc., a Delaware corporation (“Plutus”), (iii) PNES Investments, LLC, a Delaware limited liability company (“PNES”), (iv) PassKey (v) SK E&S Americas, Inc., a Delaware corporation (“SK E&S Americas”), (vi) SK Innovation, and (vii) SK Inc. (formerly known as SK Holdings Co., Ltd.), a company organized under the laws of the Republic of Korea (“SK Inc”, and together with each of (i) through (vi) above, a “Reporting Person”).

     

     

    Item 2. Identity and Background

     

    Item 2 of the Existing Schedule 13D is hereby supplemented as follows:

     

    (a) - (b)     The address of the principal business office of SK Innovation is:

     

    SK Innovation Co., Ltd.

    26, Jongno

    Jongno-gu

    Seoul, the Republic of Korea

     

    (c) The principal business of SK Innovation is to operate core energy businesses including petroleum, chemicals, LNG, power, batteries, and renewable energy.

     

    (d) During the last five years, neither SK Innovation nor, to the best knowledge of SK Innovation, any of the other persons set forth on Schedule I attached hereto, has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).

     

    (e) During the last five years, neither SK Innovation nor, to the best knowledge of SK Innovation , any of the other persons set forth on Schedule I attached hereto, has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

     

    (f) See Item 2(a)-(b) above for citizenship or place of organization, as applicable, of SK Innovation.

     

     

    Item 4. Purpose of Transaction

     

    Item 4 of the Existing Schedule 13D is hereby supplemented as follows:

     

    Effective November 4, 2024, pursuant to the Merger Agreement described in Item 6 of this Amendment No. 2, SK E&S's beneficial ownership in the Ordinary Shares of the Issuer was transferred to SK Innovation. Accordingly, SK E&S no longer has beneficial ownership of any Ordinary Shares of the Issuer. This Amendment No. 2 constitutes an exit filing for SK E&S.

     

     

     

     

    Item 5. Interest in Securities of the Issuer

     

    Item 5 of the Existing Schedule 13D is hereby supplemented as follows:

     

    The responses of the Reporting Persons to Rows (7) through (13) of the cover pages of this Amendment No. 2 are incorporated herein by reference.

     

    (a) The reported percentage of the class beneficially owned by each Reporting Person is based on 879,636,025 shares of Common Stock issued and outstanding as of August 3, 2024, as reported by the Issuer in its Report on Form 10-Q for the quarter ended June 30, 2024, as filed with the SEC on August 8, 2024.

     

    As of the date of this Amendment No. 2, each Reporting Person beneficially owns 54,966,188 shares of Common Stock.

     

    (b) As of the date hereof, Grove Energy directly holds 54,966,188 shares of Common Stock. Grove Energy is owned by Plutus and PNES. Plutus is wholly-owned by SK Inc. PNES is wholly-owned by PassKey. PassKey is wholly-owned by SK E&S Americas. SK E&S Americas is wholly-owned by SK Innovation. 55.91% of the issued and outstanding common stock of SK Innovation is owned by SK Inc.

     

    Neither the filing of this Amendment No. 2 nor any of its contents shall be deemed to constitute an admission that any Reporting Person is the beneficial owner of the Common Stock referred to herein for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, or for any other purpose and each of the Reporting Persons expressly disclaims beneficial ownership of such shares of Common Stock.

     

    (c) Effective November 4, 2024, pursuant to the Merger Agreement described in Item 6 of this Amendment No. 2, SK E&S's beneficial ownership in the Ordinary Shares of the Issuer was transferred to SK Innovation. Accordingly, SK E&S no longer has beneficial ownership of any Ordinary Shares of the Issuer. This Amendment No. 2 constitutes an exit filing for SK E&S.

     

    (d) To the best knowledge of the Reporting Persons, no one other than the Reporting Persons, or the partners, members, affiliates or shareholders of the Reporting Persons, has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Common Stock reported herein as beneficially owned by the Reporting Persons.

     

    (e) Effective November 4, 2024, pursuant to the Merger Agreement described in Item 6 of this Amendment No. 2, SK E&S's beneficial ownership in the Ordinary Shares of the Issuer was transferred to SK Innovation. Accordingly, SK E&S no longer has beneficial ownership of any Ordinary Shares of the Issuer. This Amendment No. 2 constitutes an exit filing for SK E&S. 

     

    Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

     

    Item 6 of the Existing Schedule 13D is hereby supplemented as follows:

     

    Merger Agreement

     

    Effective November 4, 2024, pursuant to the Merger Agreement dated as of July 17, 2024 by and between SK E&S and SK Innovation ("Merger Agreement"), SK E&S merged with and into SK Innovation, with SK Innovation surviving, and SK E&S ceasing to exist after, the merger.

     

    Item 7. Material to be Filed as Exhibits
       
    Exhibit A Joint Filing Agreement, dated as of May 11, 2022, by and among the Reporting Persons (incorporated by reference in this Amendment No. 2, as previously filed as Exhibit A with Amendment No. 1).

     

     

     

     

    SIGNATURE

     

    After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

     

    Dated: November 6, 2024

     

      GROVE ENERGY CAPITAL LLC
      By: /s/ Lee, Ji Young
      Name: Lee, Ji Young
      Title: Authorized Signatory
         

     

      PLUTUS CAPITAL NY, INC.
      By: /s/ Nam, Jung-Hyun
      Name: Nam, Jung-Hyun
      Title: Authorized Signatory

     

      PNES INVESTMENTS, LLC
      By: /s/ Park, Ki Dae
      Name: Park, Ki Dae
      Title: Authorized Signatory
         
      PASSKEY, INC.
      By: /s/ Park, Ki Dae
      Name: Park, Ki Dae
      Title: Authorized Signatory
         

     

      SK E&S AMERICAS, INC.
      By: /s/ Lee, Hyun Boo
      Name: Lee, Hyun Boo
      Title: Authorized Signatory
         

     

      SK INNOVATION CO., LTD.
      By: /s/ Lim, So-Ok
      Name: Lim, So-Ok
      Title: Authorized Signatory
         

     

      SK INC.
      By: /s/ Cho, Wonsang
      Name: Cho, Wonsang
      Title: Authorized Signatory

     

    Plug Power Inc. - Amendment No. 2 to Schedule 13D

     

     

     

     

    SCHEDULE I

     

    Executive Officers and Directors of SK Innovation Co., Ltd.

     

    The name and principal occupation of each director and executive officer of SK Innovation Co., Ltd. are set forth below. The address for each person listed below is c/o SK Innovation Co., Ltd., 26, Jongno, Jongno-gu, Seoul, the Republic of Korea. All executive officers and directors listed are citizens of the Republic of Korea.

     

    OFFICERS:

     

    Name   Present Principal Occupation or Employment
    Park, Sang Kyu   Chief Executive Officer and President of SK Innovation
    Kang, Dongsoo   Head of Strategy & Finance Division
    Lee, Seongjun   Head of Environmental Science & Technology Institute
    Kim, Younwook   Head of Global Compliance Division
    Kim, Jinwon   Head of Finance Division
    Lee, Chunkil   Chief Safety Officer
    Kim, Minho   Head of Corporate Culture Division
    Park, Heunyong   Head of Communication Division
    Choi, Hwanjoon   Portfolio Innovation Group Leader
    Choo, Hyeongwook   President, SK Innovation E&S
    Seo, Kun Ki   Chief Financial Officer, SK Innovation E&S
    Ahn, Jin Soo   Head of Sustainable Management Division, SK Innovation E&S
    Kwon, Hyungkyun   Head of Portfolio Division, SK Innovation E&S

     

    DIRECTORS:

     

    Name

      Present Principal Occupation or Employment
    Park, Jin Hei   Member of the Board of Directors, SK Innovation
    Kim, Joo-Youn    Member of the Board of Directors, SK Innovation
    Baik, Bok Hyeon   Professor of Seoul National University
    Lee, Bok-Hee   Chief Executive Officer of Pfeifer Vacuum KOREA
    Lee, Ji Eun   Member of the Board of Directors, SK Innovation
    Park, Sang Kyu   Chief Executive Officer and President of SK Innovation
    Choo, Hyeong Wook   President of SK Innovation
    Kang, Dong Soo   Head of Strategy & Finance Division, SK Innovation
    Jang, Yong Ho   Chief Executive Officer and President of SK Inc.

     

     

     

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    1/31/2024$4.50 → $9.00Neutral → Buy
    ROTH MKM
    1/24/2024$3.50 → $2.50Market Perform → Underperform
    BMO Capital Markets
    More analyst ratings

    $PLUG
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

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    • Gen. Coun, Corp Sec., Exec. VP Conway Gerard L Jr covered exercise/tax liability with 16,188 shares, decreasing direct ownership by 6% to 259,482 units (SEC Form 4)

      4 - PLUG POWER INC (0001093691) (Issuer)

      5/7/25 4:06:44 PM ET
      $PLUG
      Industrial Machinery/Components
      Energy
    • Chief Revenue Officer Crespo Jose Luis covered exercise/tax liability with 16,689 shares, decreasing direct ownership by 5% to 307,332 units (SEC Form 4)

      4 - PLUG POWER INC (0001093691) (Issuer)

      5/7/25 4:06:17 PM ET
      $PLUG
      Industrial Machinery/Components
      Energy
    • Corporate Controller and CAO Hull Martin Daniel covered exercise/tax liability with 18,650 shares, decreasing direct ownership by 9% to 179,873 units (SEC Form 4)

      4 - PLUG POWER INC (0001093691) (Issuer)

      5/7/25 4:05:47 PM ET
      $PLUG
      Industrial Machinery/Components
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    $PLUG
    Large Ownership Changes

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    • Amendment: SEC Form SC 13D/A filed by Plug Power Inc.

      SC 13D/A - PLUG POWER INC (0001093691) (Subject)

      11/6/24 4:01:19 PM ET
      $PLUG
      Industrial Machinery/Components
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    • SEC Form SC 13G filed by Plug Power Inc.

      SC 13G - PLUG POWER INC (0001093691) (Subject)

      10/10/24 4:49:06 PM ET
      $PLUG
      Industrial Machinery/Components
      Energy
    • SEC Form SC 13G/A filed by Plug Power Inc. (Amendment)

      SC 13G/A - PLUG POWER INC (0001093691) (Subject)

      2/13/24 5:12:07 PM ET
      $PLUG
      Industrial Machinery/Components
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    $PLUG
    SEC Filings

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    • Amendment: SEC Form 10-K/A filed by Plug Power Inc.

      10-K/A - PLUG POWER INC (0001093691) (Filer)

      4/30/25 4:22:54 PM ET
      $PLUG
      Industrial Machinery/Components
      Energy
    • Plug Power Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Results of Operations and Financial Condition, Creation of a Direct Financial Obligation, Regulation FD Disclosure, Financial Statements and Exhibits

      8-K - PLUG POWER INC (0001093691) (Filer)

      4/28/25 7:52:57 AM ET
      $PLUG
      Industrial Machinery/Components
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    • Plug Power Inc. filed SEC Form 8-K: Other Events

      8-K - PLUG POWER INC (0001093691) (Filer)

      3/20/25 4:27:40 PM ET
      $PLUG
      Industrial Machinery/Components
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    Leadership Updates

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    • Plug Power Hosts 2024 Plug Symposium

      With the theme "Plug Doing Real Things," the event highlights how Plug is laying the groundwork for the next five years Plug targets ~30% CAGR for Energy and Applications businesses from 2025 to 2030 and appoints Sanjay Shrestha new President SLINGERLANDS, N.Y., Nov. 13, 2024 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ:PLUG), a global leader in hydrogen solutions for the green hydrogen economy, is hosting its sixth annual Plug Symposium at the Company's Vista headquarters and manufacturing facility in Slingerlands, N.Y. With the theme "Plug Doing Real Things," this year's event underscores Plug's role in driving the global green hydrogen economy, showcasing its comprehensive

      11/13/24 7:00:00 AM ET
      $PLUG
      Industrial Machinery/Components
      Energy
    • PLUG TO BROADCAST 2024 PLUG SYMPOSIUM ON NOVEMBER 13, 2024

      SLINGERLANDS, N.Y., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ:PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, invites the public to join the 2024 Plug Symposium, streaming live on November 13, 2024. The event, themed Plug Doing Real Things, will showcase Plug's advancements in real-world applications driving the green hydrogen economy. Register to Stream the Event: ●  Date: November 13, 2024 ●  Program Time: 9:00 am - 1:00 pm ET ● Register here: https://event.on24.com/wcc/r/4709318/2EB78C1AF5AAF63684C7F1DF68A30983?partnerref=CorpHomePage Participants can also register directly via the Plug Power website at www.plugpower.com. F

      11/7/24 7:00:00 AM ET
      $PLUG
      Industrial Machinery/Components
      Energy
    • Plug to Announce 2024 Third Quarter Results

      SLINGERLANDS N.Y., Nov. 04, 2024 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ:PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, will announce its 2024 third quarter results on Tuesday November 12, 2024. Join the call: Date: November 12, 2024Time: 8:30 AM ETToll-free: 877-407-9221 / +1 201-689-8597Direct webcast: https://event.webcasts.com/starthere.jsp?ei=1692922&tp_key=d012114e58 The webcast can also be accessed directly from the Plug homepage (www.plugpower.com). A playback of the call will be available online for a period of time following the call. Plug Symposium Plug will host its 6th annual symposium on November 13th at its headquarters in

      11/4/24 8:36:21 AM ET
      $PLUG
      Industrial Machinery/Components
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    $PLUG
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    • Plug Power Closes $525 Million Secured Credit Facility with Yorkville Advisors

      SLINGERLANDS, N.Y., May 06, 2025 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ:PLUG), a global leader in comprehensive hydrogen solutions, today announced the initial closing of its previously announced $525 million secured term loan facility with Yorkville Advisors. The initial tranche in an aggregate principal amount of $210 million was drawn and funded. Commensurate with establishing this facility, the company has retired $82.5 million in aggregate principal of the existing convertible debenture with Yorkville Advisors, which had approximately 55 million associated underlying shares given the conversion price, and therefore this refinancing has reduced potential dilution. The transaction

      5/6/25 7:00:00 AM ET
      $PLUG
      Industrial Machinery/Components
      Energy
    • Plug Power Signs $525 Million Secured Credit Facility with Yorkville Advisors and Reports Strong Preliminary Q1 2025 Results

      SLINGERLANDS, N.Y., April 28, 2025 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ:PLUG), a global leader in comprehensive hydrogen solutions, today announced it has signed a definitive agreement for a secured debt facility and achieved key operational and financial milestones that support its path toward profitability and long-term growth. Up to $525 Million Yorkville Credit Facility and Retirement of Dilutive Debenture Plug has signed a definitive agreement for a secured debt facility with Yorkville Advisors providing for the issuance of up to $525 million of secured debentures. The facility includes an initial $210 million tranche, which will be fully funded at the initial closing and add

      4/28/25 7:47:13 AM ET
      $PLUG
      Industrial Machinery/Components
      Energy
    • Hidrogenii, an Olin and Plug Joint Venture, Commissions 15 Ton Per Day Hydrogen Liquefaction Plant in Louisiana

      Hydrogen Capture Enhances Sustainability and Profitability of Olin's St. Gabriel FacilityPlug US Hydrogen Capacity now at 40 metric-ton-per-day (TPD)CLAYTON, Mo., April 17, 2025 /PRNewswire/ -- Olin Corporation (NYSE:OLN) announced today that Hidrogenii, the joint venture between Olin and Plug Power Inc. (NASDAQ:PLUG), commissioned its 15 TPD hydrogen liquefaction plant in St. Gabriel, Louisiana. Among the largest electrolytic hydrogen liquefaction facilities in North America, the site marks a major milestone in strengthening the regional hydrogen supply chain and accelerating the U.S. transition to low-carbon energy.

      4/17/25 7:30:00 AM ET
      $OLN
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    Financials

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    • Plug Power Closes $525 Million Secured Credit Facility with Yorkville Advisors

      SLINGERLANDS, N.Y., May 06, 2025 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ:PLUG), a global leader in comprehensive hydrogen solutions, today announced the initial closing of its previously announced $525 million secured term loan facility with Yorkville Advisors. The initial tranche in an aggregate principal amount of $210 million was drawn and funded. Commensurate with establishing this facility, the company has retired $82.5 million in aggregate principal of the existing convertible debenture with Yorkville Advisors, which had approximately 55 million associated underlying shares given the conversion price, and therefore this refinancing has reduced potential dilution. The transaction

      5/6/25 7:00:00 AM ET
      $PLUG
      Industrial Machinery/Components
      Energy
    • Plug Power Announces Continued Cash Flow Improvement and Progress on Path to Profitability

      SLINGERLANDS, N.Y., March 03, 2025 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ:PLUG), a global leader in the hydrogen economy, today provided an update on its strategic and operational progress and path to profitability. This past year of 2024 marked a pivotal commercial inflection point for Plug as the Company advanced its hydrogen generation platform and scaled new product offerings, such as its electrolyzer solutions. Commensurate with these strategic initiatives driving the commercial inflection point, and in response to evolving market conditions, Plug took decisive steps in 2024 to improve margins and cash flows by optimizing operations, streamlining its workforce, consolidating fac

      3/3/25 5:01:50 PM ET
      $PLUG
      Industrial Machinery/Components
      Energy
    • Plug Power Announces Key Strategic Milestones and Continued Margin Improvement in Third Quarter 2024

      SLINGERLANDS, N.Y., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ:PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, today announced further progress on its strategic and operational initiatives and path to profitability in the third quarter of 2024. These developments underscore the Company's commitment to advancing the hydrogen economy and solidifying its market and financial position in the industry. Financial Highlights Q3 Financial Performance: Plug reported revenue of $173.7 million in Q3 2024, representing an inflection in electrolyzer deployments, continued expansion of its internally produced hydrogen network, and increase

      11/12/24 7:00:00 AM ET
      $PLUG
      Industrial Machinery/Components
      Energy

    $PLUG
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

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    • Plug Power downgraded by Seaport Research Partners with a new price target

      Seaport Research Partners downgraded Plug Power from Neutral to Sell and set a new price target of $1.00

      1/27/25 8:08:33 AM ET
      $PLUG
      Industrial Machinery/Components
      Energy
    • Plug Power downgraded by BTIG Research

      BTIG Research downgraded Plug Power from Buy to Neutral

      11/14/24 7:47:32 AM ET
      $PLUG
      Industrial Machinery/Components
      Energy
    • Plug Power downgraded by Citigroup with a new price target

      Citigroup downgraded Plug Power from Neutral to Sell and set a new price target of $2.00

      4/5/24 7:44:10 AM ET
      $PLUG
      Industrial Machinery/Components
      Energy