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Plug Power, Inc. (NASDAQ:PLUG) shares are trading higher in the premarket session on Wednesday after ending yesterday’s run with a massive jump of over 19%.
In a press release, the company announced its latest innovation – integrating a Class 6, medium-duty fuel cell electric truck.
The integration combines a commercial Class 6 chassis cab with Plug’s ProGen fuel cell technology, seamlessly merging with an industry-proven electric propulsion system.
“Plug continues to lead charge in developing and deploying hydrogen fuel cell solutions for electric vehicle platforms,” said Plug CEO Andy Marsh.
Fuel Cell Electric Vehicles (FCEVs) run on hydrogen, offering higher efficiency compared to traditional internal combustion engine vehicles. Plug’s ProGen technology produces zero harmful tailpipe emissions, emitting only water vapor and warm air.
“Our ProGen engine, built on decades of operational experience, offers unmatched benefits for middle-mile delivery—range, rapid fueling, cargo volume optimization, and higher power densities,” Marsh added.
Crafted for middle-mile deliveries, this vehicle sets new standards with up to 500 miles of range, surpassing battery electric vehicles.
This extended range boosts operational efficiency, minimizing downtime and resource consumption. Additionally, it stands out by not mandating a commercial driver’s license (CDL), ensuring accessibility for operations.
Currently in its final integration and testing phase, the product is slated to initiate on-road operational pilots this summer alongside Plug’s key logistics customers. This phase aims to gather real-world data and feedback to fine-tune the truck’s performance for commercial deployment.
Price Action: PLUG shares are trading higher by 6.69% to $3.67 premarket at last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
Posted In: PLUG
