"Plug Power Surges on Funding Update, Eases Investor Concerns"
Plug Power's stock surged in premarket trading after announcing a $1.6 billion loan facility agreement with the Department of Energy to support hydrogen-production facilities, addressing liquidity challenges and a going-concern warning. The company's CEO also highlighted the operational status of their Georgia plant and plans for a joint-venture plant in Louisiana, while the CFO detailed efforts to improve cash management and revenue performance, including pursuing price increases and implementing a hiring freeze.