Plug Power Shares Rise 6% After Hydrogen Fuel Deal With Walmart

By Chris Wack

Plug Power Inc. shares were up 6% to $27.07 after the company said it signed an agreement with Walmart Inc. for an option to deliver up to 20 tons per day of liquid green hydrogen to power material handling lift trucks across Walmart distribution and fulfillment centers in the U.S.

This is one of the first green hydrogen supply contracts for Plug, which has made multiyear investments in its green hydrogen network.

The company said it will deliver green hydrogen to Walmart facilities using a fleet of liquid transports put into service using capabilities gained from its recent acquisition of Applied Cryo Technologies.

Walmart has worked with Plug Power to adopt and expand hydrogen fuel cells throughout its facilities for more than a decade, beginning with a 50-fleet pilot in 2012 and expanding to a fleet of 9,500 and growing.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

April 19, 2022 10:19 ET (14:19 GMT)

Walmart (NYSE:WMT)
Historical Stock Chart
From Aug 2024 to Sep 2024