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Shares of fuel cell technology Plug Power (NASDAQ:PLUG) jumped 20.8% in the morning session after it announced a new multi-year enhanced supply agreement with a major U.S.-based industrial gas partner. The agreement, which extends the partnership through 2030, is set to secure a reliable supply of liquid hydrogen for Plug Power's growing business.
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Plug’s extension of agreement with a U.S.-based industrial gas company comes on the back of newly passed energy and tax legislation and helps Plug to strengthen margins and enhance operational flexibility.
Plug Power Inc. (NASDAQ: PLUG) renewed and expanded a supply agreement with a U.S.-based partner, aiming to cut costs and improve cash flow through 2030.
A $1.66 billion DOE loan validates Plug Power's vision, signaling a pivotal shift from financing risk to operational execution in the hydrogen economy.
