Plug Secures $1.66 Billion Conditional Loan Guarantee From Department Of Energy For Green Hydrogen Development
Portfolio Pulse from Benzinga Newsdesk
Plug Power Inc. has received a conditional commitment for a loan guarantee up to $1.66 billion from the Department of Energy to finance the development, construction, and ownership of up to six green hydrogen production facilities.
May 14, 2024 | 12:07 pm
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Plug Power Inc. secures a significant financial commitment from the DOE, bolstering its position in the green hydrogen sector with plans to develop up to six production facilities.
The conditional loan guarantee from the DOE is a strong endorsement of Plug Power's green hydrogen initiatives, likely to enhance investor confidence and potentially drive up the stock price in the short term. This financial backing supports significant expansion in the green hydrogen sector, which is a key growth area for Plug Power.
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