Plug Power Inc. on-track to achieve targets as it reports 2015 third quarter results


Plug Power Inc. has taken even further steps toward achieving its 2015 objectives with its third quarter results, recording a year-on-year total revenue increase of 58% for the period.

The company recorded revenue of $31.4m in third quarter 2015, and bookings that exceeded $50m.

It attributed the strong increase in total revenues as being driven by more GenDrive units sold, hydrogen infrastructure installation sales associated with seven sites in service revenues in 2015, and increased GenCare service revenues.

Plug Power recognised revenue for more than 1,200 units in the third quarter, and now has more than 9,000 units in the field.

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