PLUG - Plug Power +64% After Securing $1.66B Loan Guarantee From Biden Administration | Benzinga
Plug Power, Inc. (NASDAQ:PLUG) shares are trading higher after the company received a conditional commitment for an up to $1.66 billion loan guarantee from the Department of Energy.
The Department of Energy’s Loan Programs Office gave the contract to Plug Power to finance the development, construction, and ownership of up to six green hydrogen production facilities.
Plug’s projects under the loan will adhere to the Biden Administration’s Justice 40 Initiative.
Plug runs the largest proton exchange membrane PEM electrolyzer system in the U.S. at its Woodbine, GA, plant, ...