Hydrogen Maker Plug Power Shares Soar on $525 Million Debt Deal
The Plug Power Inc. liquid green hydrogen plant in Woodbine, Georgia.
Photographer: Agnes Lopez/BloombergThis article is for subscribers only.
Plug Power Inc. shares jumped the most in nearly a year after the hydrogen company announced a $525 million secured debt facility, said it doesn’t plan to raise more equity in 2025 and reported preliminary first-quarter results in line with analysts’ estimates.
Plug expects to report revenue of $130 million to $134 million when it releases its full first-quarter results in early May, versus a consensus estimate of $131.6 million. The company also reported completing construction of a hydrogen production plant in Louisiana that will serve customers including Amazon.com Inc. and Walmart Inc.