Plug Power Inc. - PLUG STOCK NEWS

Plug Power has successfully completed an upsized offering of 32.2 million shares at $65 each, raising over $2 billion in total. This marks the largest bought deal in the cleantech sector and the third largest in any market segment with Morgan Stanley as the sole bookrunner. The transaction boosts Plug Power's cash balance to over $5 billion, facilitating its global growth strategy in green hydrogen, with a goal of achieving $750 million in gross billings by 2022. Key targets include the establishment of multiple hydrogen plants and partnerships to expand operations.

Plug Power has announced an upsized offering of 28,000,000 shares of its common stock at $65.00 per share. The deal includes a 30-day option for underwriters to purchase an additional 4,200,000 shares at the same price. The offering is expected to close on or around January 29, 2021. This move is part of Plug Power's strategy to enhance its position in the hydrogen economy and expand its operational capabilities in the clean energy sector.

Plug Power Inc. (NASDAQ: PLUG) has announced a registered public offering of $1.5 billion of its common stock, with a 30-day underwriter option for an additional $225 million. Morgan Stanley is the sole underwriter for the offering. The proceeds will be aimed at working capital and general corporate purposes, including potential acquisitions and growth opportunities. This offering is part of Plug Power's strategy to enhance its hydrogen fuel cell technology and market position.

Plug Power Inc. (NASDAQ: PLUG) concluded 2020 with a significant leadership role in the green hydrogen solutions market, targeting a gross billings increase from $450M to $475M in 2021. The company’s 2024 revenue projections have also been boosted by over 40% to $1.7B. This positive outlook will be discussed in a business update call scheduled for January 26, 2021, at 8:30 am ET. Plug Power continues to expand its hydrogen infrastructure while addressing environmental sustainability and operational efficiency.

Plug Power Inc. (NASDAQ:PLUG) announced a business update conference call scheduled for January 26, 2021, at 8:30 am ET. CEO Andy Marsh will present preliminary results for 2020 and discuss plans for 2021. The company is a leader in hydrogen engines and fueling solutions, having deployed over 40,000 fuel cell systems and established itself as the largest buyer of liquid hydrogen in North America. Plug Power aims to expand into key markets including zero-emission vehicles and robotics, leveraging its technology to support sustainability goals.

Plug Power (NASDAQ: PLUG) announced the establishment of its PEM stack and electrolyzer Innovation Center in Rochester, NY, expected to commence operations by mid-2021. This gigafactory aims to expand production capabilities significantly, achieving an output of 7 million MEAs, 60,000 stacks, and 500 Mw of electrolyzers annually. The initiative will inject $125 million into the local economy, creating 375 jobs, and is part of Plug Power's strategy to drive a clean hydrogen ecosystem. The facility will also support local fleets with green hydrogen production.

Plug Power has appointed Ole Hoefelmann as General Manager of its electrolyzer business. Hoefelmann brings 30 years of experience from Air Liquide, where he held various leadership roles, including CEO and COO. His expertise will focus on sales, product management, and business strategy to scale Plug Power's PEM-electrolyzer offerings. Under his leadership, the company aims to deploy 500mW by 2024. Andy Marsh, CEO, highlighted Hoefelmann's significant impact on the global hydrogen economy and emphasized the company’s commitment to expanding its green hydrogen initiatives.

Groupe Renault and Plug Power Inc. (NASDAQ: PLUG) have signed a Memorandum Of Understanding (MOU) to create a 50-50 joint venture in France by mid-2021. This JV aims to capture over 30% of Europe's fuel cell-powered light commercial vehicle market. The partnership will leverage Renault's electric vehicle expertise and Plug Power's fuel cell technology to establish manufacturing capabilities and an innovation center focused on hydrogen solutions. The JV aims to commercialize hydrogen vehicles and related services, supporting Europe's decarbonization efforts.

Plug Power Inc. (NASDAQ: PLUG) has announced a strategic partnership with SK Group to accelerate the hydrogen economy in Asian markets. This collaboration includes a $1.5 billion investment from SK Group, resulting in a 9.9% ownership stake in Plug Power through the acquisition of about 51.4 million shares. The partnership aims to provide hydrogen fuel cell systems and fueling stations, leveraging both companies' strengths. The investment is poised to close by Q1 2021, marking it as the largest U.S. clean energy PIPE in two decades.