Data centers & energy
Plug Power
Business, financial evidence and documented connections to the AI buildout.
Business and AI exposure
Plug Power develops hydrogen and fuel-cell businesses. Its New York Project Gateway connection to STAMP concerns a staged asset sale to Stream Data Centers, making Plug a seller rather than the future data-center operator. Historical Plug materials explicitly locate Project Gateway at WNY STAMP.
Earnings and disclosures
Latest verified results: Q2 2026 · Released 2026-08-10
Next results: 2026-11-09 · Q3 2026 earnings conference call.
The company confirms the earnings call date; a separate publication time was not verified.
Checked 2026-10-18 · Financial context and sources ↓
Financial context
For Q2 2026, Plug reported approximately $178 million of revenue, $161.9 million of unrestricted cash and cash use of about $61 million. Its operating revenue is principally associated with hydrogen-related activities; anticipated asset-sale proceeds are a separate source of liquidity.
Delivery and commitments
A July 2026 update described a staged Gateway closing, including release of $6.5 million from escrow and a $10 million deposit. Remaining land-related steps were still subject to regulatory review, with a March 31, 2027 long-stop date for the specified non-land transaction provisions.
Costs, funding and dependencies
Sale proceeds, deposits and recognized revenue should not be treated interchangeably. Remaining approvals and closing conditions determine the timing and amount of further liquidity. The broader monetization initiative combines different transactions and is not a guaranteed cash receipt from STAMP alone.
What to watch next
Follow the remaining regulatory and closing steps, actual cash receipts and continuing cash consumption. A proposed transfer to a data-center developer does not establish that Plug will earn recurring AI hosting revenue or retain operating ownership of the future campus.
Documented project connections
Each connection below has a specific, cited role. A supplier, lender, customer or proposed acquirer has different economics from the project owner.
Stream STAMP / Project Double Reed
Plug Power is an asset seller in the staged New York Gateway transaction with Stream Data Centers; its presentation identifies Gateway at WNY STAMP.
Staged asset-sale cash receipts do not make Plug the AI campus operator and must not be reported as wholly received or as AI operating revenue.
Evidence boundaries
Company totals, segment sales, bookings, backlog, spending, capacity and usage describe different things. They do not establish project-level revenue, earnings or an exact AI-only revenue share unless the cited disclosure explicitly says so.
This is a dated research snapshot. Forecasts are attributed expectations, and undisclosed amounts remain unknown. Source review does not certify every project or future outcome.