"Plug Power's Financial Boost: $1.6 Billion Federal Funding Sparks Stock Surge"
TL;DR Summary
Plug Power (NASDAQ:PLUG) is set to receive a $1.6 billion loan from the U.S. Department of Energy, signaling a potential turnaround for the struggling company. The funding will allow the company to build up to six hydrogen-production facilities in the U.S., with plans to partner with chemical manufacturer Olin Corp (NYSE:OLN). The announcement has led to a surge in PLUG stock, which had been struggling in recent months, and indicates a positive catalyst for the company's future growth and profitability.
- PLUG Stock: Plug Power Preps to Receive $1.6 Billion in Federal Funding InvestorPlace
- Plug Power Surges on Crucial Updates: Should You Buy the Stock Hand Over Fist Now? Yahoo Finance
- Plug Power Stock Soars. Thank News of Loan, Focus on Costs. Barron's
- Plug Power starts hiring freeze as the company's finances tighten Times Union
- Why Plug Power Stock Is Skyrocketing Today Yahoo Finance
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