Plug Power (PLUG) announced a new multi-year enhanced supply agreement with a leading U.S.-based industrial gas company and longtime hydrogen partner through 2030. The agreement extends the companies’ current strategic relationship through 2030, securing reliable hydrogen supply for Plug’s growing applications business while significantly reducing the cost structure and improving cash flows. As part of the extension, the strategic partner will continue to supply Plug with liquid hydrogen while immediately reducing the cost and collaborating on improved network efficiency. The extension aligns with Plug’s strategic objectives to strengthen margins, enhance operational flexibility and support customer demand across a growing base of over 275 hydrogen-consuming customer sites and growing.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PLUG:
- Plug Power Approves Key Proposals at Annual Meeting
- Plug Power Gains Momentum with New Legislation
- AES, NextEra may be most impacted by new executive order, says Morgan Stanley
- Clarity for Plug Power from BBB act offers more potential for upside, says Roth
- Big Beautful Bill positive for Plug Power, says JPMorgan