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Plug Power Shares Whipsaw as Company Details Warrant Resale and Showcases Record Georgia Output

Investor enthusiasm reflects bets on hydrogen’s role in powering AI data centers following a rate cut.

Overview

  • Plug Power filed a Sept. 22 prospectus supplement covering the resale of stock tied to more than 185 million March 2025 warrants with a $2.00 exercise price that remain exercisable until March 2028, with legal opinion from Goodwin Procter included.
  • The company hosted an investor tour of its Georgia green hydrogen plant, reporting a record August with 324 metric tons produced, 97% uptime and 99.7% availability, highlighting its GenEco electrolyzer platform.
  • Shares rallied sharply on Monday and rose again premarket Tuesday before reversing intraday, extending a stretch of volatile moves that included a nine‑day advance.
  • Coverage frames Plug’s fuel cells and electrolyzers as potential solutions for power‑hungry AI data centers facing grid constraints, a narrative also lifting peers like FuelCell Energy and Bloom Energy.
  • Commentary notes the Georgia plant’s output would add modest revenue relative to Plug’s overall sales, the company remains unprofitable, and the newly disclosed warrant mechanics could dilute existing shareholders.