Plug Power Stock Rises on Agreement to Supply Green Hydrogen to Walmart | MLPs Message Board Posts


MLPs   /  Message Board  /  Read Message

 

 






Keyword
Subject
Between
and
Rec'd By
Authored By
Minimum Recs
  
Previous Message  Next Message    Post Message    Post a Reply return to message boardtop of board
Msg  136628 of 137794  at  4/20/2022 6:53:14 AM  by

MikeyHorse


Plug Power Stock Rises on Agreement to Supply Green Hydrogen to Walmart

Author: Escobar, Sabrina

Barron's (Online) ; New York (Apr 19, 2022)

 

Plug Power stock was surging Tuesday after the hydrogen fuel cell company announced a delivery agreement with Walmart.

Under the agreement, Plug Power (ticker: PLUG) has an option to deliver up to 20 tons per day of liquid green hydrogen to power the retail giant's material handling lift trucks across its distribution and fulfillment centers in the U.S.

Walmart (WMT) has partnered with Plug Power since 2012, when it launched a 50-fleet fuel cell pilot. That has then expanded to a fleet of 9,500 plus, the company said.

"Walmart has been an early adopter of innovative hydrogen and fuel cell technology for over a decade, and our hydrogen-powered solutions offer a tool to enhance productivity improvements for Walmart's operations," said Andy Marsh, Plug Power CEO.

This is one of the first green hydrogen supply contracts for Plug Power. Green hydrogen is produced through the electrolysis of water with electricity generated from zero-carbon sources. Plug will deliver the green hydrogen using a fleet of liquid transport using capabilities from its recent acquisition of Applied Cryo Technologies, the companies said.

Plug Power was rising 5.8% to $27.00 on Tuesday. The stock has lost about 4.2% this year. Walmart was up 0.8% to $157.12.

Write to Sabrina Escobar at sabrina.escobar@barrons.com

Plug Power Stock Rises on Agreement to Supply Green Hydrogen to Walmart

Credit: By Sabrina Escobar



     e-mail to a friend      printer-friendly     add to library      
|  
Recs: 2  
   Views: 0 []
Previous Message  Next Message    Post Message    Post a Reply return to message boardtop of board


Financial Market Data provided by
.
Loading...