What's Going On With Plug Power Shares Today?

Author: Nabaparna Bhattacharya | July 10, 2024 10:40am

Plug Power, Inc. (NASDAQ:PLUG) shares are trading lower on Wednesday.

According to Benzinga Pro, PLUG stock has lost over 76% in the past year. Investors can gain exposure to the stock via Global X Hydrogen ETF (NASDAQ:HYDR) and ETF Series Solutions Defiance Next Gen H2 ETF (NYSE:HDRO).

In a press release today, the company said it has completed deployment of 13 hydrogen refueling stations (HRS) over the last two years across Europe.

The company said its HRS installations are facilitating various material handling and mobility applications throughout the U.K., France, Germany, Spain, and the Netherlands.

Also Read: Plug Power Pockets 25 MW Green Hydrogen Electrolyzer Order In Europe: Details Here

Currently, all systems are in the commissioning phase, with several already operational, and the rest scheduled to be fully operational by this summer.

Plug’s hydrogen refueling stations support its European material handling customers like Amazon, Stef, ASDA, and Lidl.

They also cater to Plug’s own facilities and HYVIA, its joint venture with Renault for hydrogen fuel cell electric vehicles.

The largest sites will consume nearly half a ton of hydrogen daily.

In addition, Plug offers turnkey solutions from station construction to hydrogen delivery via its generators. With over 250 stations built globally, Plug recently took over operations of four more in Europe.

“This milestone underscores the importance of Plug’s experience with hydrogen refueling stations in delivering hydrogen supply to customers,” said Plug CEO Andy Marsh.

Price Action: PLUG shares are trading lower by 0.39% to $2.56 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

Read Next:

• Chinese ETF Market Explodes With 5X Increase In Inflows Over 3 Years Despite Some Ceasing Operations In US

Posted In: HDRO HYDR PLUG