Plug Power Stock Soars on $1.66B Conditional Loan for Green Hydrogen Production
PLUGPlug Power(PLUG) Investopedia·2024-05-15 02:41

Key Takeaways Plug Power said Tuesday that it has received a conditional loan guarantee valued at up to $1.66 billion from the U.S. Department of Energy to add green hydrogen facilities. The company said it would use the money to pay for the development, construction, and ownership of as many as six new sites to produce hydrogen through splitting water molecules. Plug Power CEO Andy Marsh called green hydrogen essential to industrial decarbonization in the U.S. Shares of Plug Power (PLUG) skyrocketed Tuesda ...