Overview
- Plug Power began its first NASA liquid hydrogen contract on December 1, supplying up to 218,000 kilograms under a deal worth about $2.8 million that runs through November 30, 2030.
- Deliveries will serve NASA’s Glenn Research Center in Cleveland and the Neil A. Armstrong Test Facility in Sandusky under a two-year base term with three one-year options.
- The company plans to fulfill the award using its cryogenic transport fleet and U.S. production network, including active plants in Georgia, Tennessee, and Louisiana totaling roughly 40 tons per day.
- Shares fell 4.09% on Monday to close at $2.11 and continue to trade near $2 despite operational wins such as a 5MW GenEco PEM electrolyzer installed at Cleanergy Solutions Namibia’s Walvis Bay site.
- Yahoo Finance reports a market cap below $3 billion after heavy dilution and sustained losses, with company guidance targeting positive EBITDA next year and profitability by 2028, and cautions that more capital could be needed if hydrogen adoption lags.