Plug Power Shares Up Nearly 4% - What's Going On?

Plug Power, Inc. PLUG shares are trading higher by nearly 4% in the premarket session on Friday.

On Thursday, the company said it completed the first fill of a Plug tanker with liquid green hydrogen produced at its Woodbine, Georgia, production plant. 

In a press release, the company said that a Plug cryogenic trailer has been filled with liquid hydrogen for use at Walmart Inc. WMT, Amazon.Com, Inc. AMZN, and Home Depot, Inc. HD sites. This is enough liquid hydrogen to fuel 3,216 forklifts a day.

Plug’s Georgia facility, housing the largest proton exchange membrane (PEM) electrolyzer deployment in the U.S., operates eight 5-megawatt electrolyzers.

 With a daily capacity of 15 tons of liquid green hydrogen, the plant serves customers in the eastern U.S. 

The entire process, from production to delivery via Plug’s logistics network, takes approximately four days.

“We took a big step today to make cost-effective green hydrogen available to our pedestal customers,” said Sanjay Shrestha, Plug’s General Manager, Energy Solutions and Chief Strategy Officer.

Plug’s liquid hydrogen tankers, with a maximum gross vehicle weight of up to 80,000 pounds, outperform gaseous hydrogen delivery. 

Read Next: Plug Power Stock Up 26% In 5 Days – Fundamental Rally Or Short Squeeze?

Price Action: PLUG shares are trading higher by 3.83% to $4.88 premarket on the last check Friday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.