Overview
- Plug Power traded roughly flat near $2.98 on Monday after a decline of about 20% last week.
- The drop followed a warrant inducement to raise $370 million at $2.00 per share that investors viewed as dilutive.
- The company announced a partnership with Edgewood Renewables to support a North Las Vegas facility producing sustainable aviation fuel, renewable diesel and biomethanol, with Plug providing engineering, product supply and project oversight.
- Plug reported continued European activity, including a first hydrogen delivery to Germany’s H2CAST project and the initial 10‑megawatt GenEco electrolyzer delivered to Galp’s Sines refinery in Portugal.
- The 2025 pivot toward green hydrogen and electrolyzers features a 5‑gigawatt contract with Allied Green Ammonia, a cost‑cutting program targeting $150–$200 million annually and record output at its Georgia plant, while the company remains unprofitable.