Plug Power stock surges after liquid green hydrogen delivery agreement with Walmart
Shares of Plug Power Inc.
surged 4.4% in premarket trading Tuesday, after the alternative energy company disclosed an agreement with Walmart Inc.
for an option to deliver up to 20 tons per day of liquid green hydrogen. The hydrogen will be used to power material handling lift trucks across Walmart’s U.S. distribution and fulfillment centers. Walmart shares were little changed ahead of the open. “Walmart has been an early adopter of innovative hydrogen and fuel cell technology for over a decade, and our hydrogen-powered solutions offer a tool to enhance productivity improvements for Walmart’s operations,” said Plug Power Chief Executive Andy Marsh. Plug Power’s stock has lot 9.5% year to date, while the S&P 500
has declined 7.9%.