What's Going On With Plug Power Stock Today?

Plug Power, Inc. PLUG shares are trading higher in the premarket session on Wednesday.

The firm is making waves in the green hydrogen industry with the introduction of its first-ever spot pricing program for liquid green hydrogen.

This move enhances the flexibility of the hydrogen market, allowing buyers to purchase hydrogen on-demand without the constraints of long-term take-or-pay agreements.

This pricing model enables customers, including industrial manufacturers, retailers, and power plant operators, to adjust their hydrogen sources based on fluctuating energy demands.

The initiative has already attracted key players in the industry, including one of the largest industrial gas companies, signaling broad support for the new approach.

According to Benzinga Pro, PLUG stock has lost over 55% in the past year. Investors can gain exposure to the stock via Global X Hydrogen ETF HYDR.

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Plug Power’s CEO, Andy Marsh, emphasized that this spot pricing program is a testament to the company’s customer-centric approach and its commitment to accelerating the adoption of green hydrogen.

“By adapting to market demands in real-time, we are not only enhancing the accessibility and affordability of green hydrogen but also accelerating its adoption across various sectors,” Marsh said.

The program, which includes Plug’s production plants in Woodbine, Georgia, Charleston, Tennessee, and St. Gabriel, Louisiana, with a combined liquid hydrogen production capacity of 45 tons per day, is designed to create a more dynamic and transparent market.

S&P Global Platts will publish the hydrogen price weekly based on current supply and demand.

The company said it anticipates that in five years, most buyers will prefer the flexibility of the spot market, driving further growth in the green hydrogen sector.

Price Action: PLUG shares are trading higher by 1.06% to $1.971 premarket at last check Wednesday.

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