Keep on Buying Plug Stock, Says Analyst Following Recent Partnerships
April 29 2022 - 11:41AM
TipRanks
It's been a busy week for hydrogen fuel cell company Plug Power
(PLUG), and at least one analyst is taking notice. Plug's
first big news of the week arrived Wednesday morning, when the
company announced it's teaming up with Hungarian oil and gas giant
MOL Group "to build one of Europe's largest-capacity green hydrogen
production facilities at MOL's Danube Refinery in Százhalombatta,
Hungary." Plug will contribute a 10-megawatt electrolysis
unit to the joint venture, capable of producing "approximately
1,600 tons of clean, carbon-neutral, green hydrogen annually" once
it begins operation in 2023.
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Plug Power (NASDAQ:PLUG)
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