Plug Power Inc Q1 2023 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Manav Gupta - UBS Investment Bank, Research Division - Analyst : I have 2 questions and they're kind of related. So I'm going to ask them right upfront. So your press release states something very interesting. It says that you are in final stages of negotiating large-scale project opportunities in U.S., Europe and Asia Pacific, representing potential backlogs of 1 gigawatt. So if we can get some more details on that? And second is on a March announcement, you won a contract to build a 100-megawatt electrolyzer with Uniper. As I understand, this was a competitive bidding process and you were selected versus your competitors. It kind of indicates you have a very good product out there. So if you could talk a little bit about the March 7 announcement with Uniper.

Question: Manav Gupta - UBS Investment Bank, Research Division - Analyst : Any details on the per contract?

Question: William Chapman Peterson - JPMorgan Chase & Co, Research Division - Analyst : Andy and team, nice to speak with you on. I wanted to go to the guidance for the year, just to make sure I understand. I think you said it was largely Energy Solutions. But in the last quarter, you talked about 55% kind of mature business. I think 30-plus percent electrolyzer is $100 million stationery. I think the rest you call it fuel cryo and so forth with that 15%, which I think is around $200 million. So what is the difference? Where does it come in at $1.2 billion and where does it come in $1.4 billion? Is it electrolyzed primarily or fuel? If you could help us understand kind of what's changed in the guidance.

Question: William Chapman Peterson - JPMorgan Chase & Co, Research Division - Analyst : Yes. Sorry about that. Sorry, you talked about -- sorry about that. You talked about raising additional potential -- potentially raising additional financing. You talked about the DOE loans and ABL and probably you mentioned more to come in the second half of the year. Is there a preferred means of raising, I guess, presuming you're looking at the most non-dilutive capital as possible. But what is the preferred means at doing this as you look at the second half of the year or into next year?