Overview
- Plug Power started a multi-year liquid hydrogen supply for NASA on December 1, covering up to about 480,000 pounds through November 30, 2030, for roughly $2.8 million.
- Deliveries serve NASA’s Glenn Research Center in Cleveland and the Neil A. Armstrong Test Facility in Sandusky, using Plug’s cryogenic fleet and U.S. production sites in Georgia, Tennessee, and Louisiana.
- The company installed a 5 MW GenEco electrolyzer at Cleanergy Solutions Namibia’s Walvis Bay project, described as Africa’s first fully integrated commercial green hydrogen facility supporting off-grid hydrogen mobility.
- Shares closed near $2 this week and have fallen roughly 99% from peak levels, with Tuesday’s session logging a further decline despite the Namibia deployment.
- Law firm Bronstein, Gewirtz & Grossman opened a probe tied to Plug’s suspension of green hydrogen plant development, a move reported as potentially jeopardizing a $1.7 billion DOE loan, while recent financing includes $375 million in convertible notes and about $370 million from warrant exercises as the company posted a $785.6 million nine-month net loss.