Why Shares of Plug Power Are Popping Today
Enthusiasm for Plug Power's (NASDAQ: PLUG) prospects in the U.S. has ramped up recently thanks to the passage of the Inflation Reduction Act, which includes significant support for green energy, but it is news out of France that is sending the hydrogen fuel cell company's stock higher Thursday. Lhyfe, a producer and supplier of renewable green hydrogen for European markets, has placed an order for 10 of Plug Power's electrolyzer systems, and the market is taking notice.
As of 11:59 a.m. ET, shares of Plug Power were up by 2.3%.
Lhyfe's order for 10 5-megawatt (MW) electrolyzer systems is Plug Power's largest-ever multisite electrolyzer order from a European customer. In total, the systems, which Lhyfe will use at multiple facilities throughout Europe, have a daily production capacity of 10 tons.
Source Fool.com
