Plug Power has reported strong Q2 2017 results, setting up the business for continued growth in 2018.
Plug Power’s Q2 2017 saw continued execution of efforts to Improve its business model, improve margins, and expand its multi-site customer base. These efforts allow Plug Power to enter the back-half of 2017 from a position of strength, allowing it to reconfirm its full-year 2017 guidance.
Strong Q2 deals were made with significant customers such as Amazon and Walmart. The GenKey agreement with Amazon will generate approximately $70m in revenue for the full-year 2017 and the Walmart deal represents $80m worth of contracts over a three-year period. Looking to the next six months, the company will begin to realise the positive economic impact of the key agreements.
Financial results
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