Plug Power Inc. Announces Pricing of Public Offering for Green Hydrogen Solutions
Key Ideas
- Plug Power Inc. has priced its public offering of common stock at $2.54 per share, expecting gross proceeds of approximately $200 million.
- The net proceeds from the offering will be used for general corporate purposes as Plug Power expands its green hydrogen solutions.
- The company, a leader in hydrogen technology, aims to build an end-to-end green hydrogen ecosystem and operate a green hydrogen highway across North America and Europe.
- With plans for multiple green hydrogen production plants by 2028, Plug Power is at the forefront of decarbonizing the economy and promoting hydrogen fuel cell technology.
Plug Power Inc., a global leader in hydrogen solutions, announced the pricing of its underwritten public offering of common stock at $2.54 per share, aiming to raise approximately $200 million. The offering, set to close on July 22, 2024, will be used for general corporate purposes as the company expands its green hydrogen ecosystem. With a focus on decarbonizing the economy, Plug Power has deployed over 69,000 fuel cell systems and aims to operate a green hydrogen highway across North America and Europe. The company is also developing green hydrogen production plants to be operational by the end of 2028. Plug Power's efforts align with its commitment to promoting hydrogen fuel cell technology and driving sustainability initiatives in various sectors.