Acquisitions (Tables)

9 Months Ended

Sep. 30, 2023

Alloy Custom Products, LLC and WesMor Cryogenics, LLC

Schedule of fair value of consideration paid

The fair value of consideration paid by the Company in connection with the CIS acquisition was as follows (in thousands):

Cash	$	30,700
Due to Cryogenic Industrial Solutions, LLC		500
Plug Power Inc. common stock		6,107
Total consideration	$	37,307

Summary of allocation of the purchase price to the estimated fair value of the net assets acquired

The following table summarizes the preliminary allocation of the purchase price to the estimated fair value of the net assets acquired, excluding goodwill (in thousands):

Cash	$	267
Accounts receivable		5,038
Inventory		11,120
Prepaid expenses and other assets		464
Property, plant and equipment		3,887
Right of use asset		1,538
Identifiable intangible assets		13,430
Lease liability		(1,562)
Accounts payable, accrued expenses and other liabilities		(3,826)
Deferred revenue		(6,193)
Total net assets acquired, excluding goodwill	$	24,163

Business combination segment allocation

Consideration paid	$	37,307
Less: net assets acquired		(24,163)
Total goodwill recognized	$	13,144

Joule Processing LLC

Schedule of fair value of consideration paid

Cash	$	28,140
Contingent consideration		41,732
Total consideration	$	69,872

Summary of allocation of the purchase price to the estimated fair value of the net assets acquired

Current assets	$	2,672
Property, plant and equipment		493
Right of use asset		182
Identifiable intangible assets		60,522
Lease liability		(374)
Current liabilities		(2,612)
Contract liability		(3,818)
Total net assets acquired, excluding goodwill	$	57,065

Business combination segment allocation

Consideration paid	$	28,140
Contingent consideration		41,732
Less: net assets acquired		(57,065)
Total goodwill recognized	$	12,807