Plug Power Successfully Raises $370 Million From Warrant Inducement Transaction With the Potential to Receive an Additional $1.4 Billion in Gross Proceeds if New Warrants are Fully Exercised

SLINGERLANDS, N.Y., Oct. 08, 2025 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG) (“Plug Power” or the “Company”), a global leader in comprehensive hydrogen solutions for the hydrogen economy announced that it has entered into a warrant inducement agreement with a single existing institutional investor for the immediate exercise of the entirety of the Company’s outstanding warrants issued in March 2025 (the “Existing Warrants”) to purchase 185,430,464 shares of common stock at the original exercise price of $2.00 per share. The gross proceeds to Plug Power, before deducting estimated transaction expenses and fees, are expected to be approximately $370 million.