Plug Power to generate over $275M in liquidity improvement

Plug Power (PLUG) announced that it expects to generate more than $275M in liquidity improvement through a combination of asset monetization, release of restricted cash, and reduced maintenance expenses. As part of this initiative, Plug has signed a non-binding Letter of Intent to monetize its electricity rights in New York and one other location and collaborate with a U.S. data center developer. The project developer is actively expanding its data center platforms across the country, and Plug will work with them to explore providing auxiliary and back-up power solutions utilizing Plug’s advanced fuel cell technology. This collaboration highlights Plug’s growing presence in the rapidly expanding data center sector, where the need for reliable, low-carbon energy continues to accelerate. Plug’s fuel cell systems are ideally suited to provide resilient, zero-emission power to critical infrastructure and high-uptime facilities.