** Shares of hydrogen fuel cell maker Plug Power PLUG.O rise 11.4% to 90 cents premarket
** PLUG says it has taken steps to decrease its operational costs, initiating changes in Q1 that are projected to generate more than $200 million in additional annual savings
** Company expects to report Q1 revenue of about $130 million to $134 million vs est of $131.6 million - data compiled by LSEG
** PLUG sees Q2 revenue in the range of $140 million to $180 million vs est of $160.2 million
** Company expects net cash usage for Q1 to be nearly $142 million, compared with $268 million a year ago
** Company anticipates additional near-term reductions to net cash usage, driven by hydrogen plant ramp-ups, additional cost downs and price increases
** PLUG also signs $525 million secured credit facility agreement with Yorkville Advisors
** Company adds that it has no intention to raise additional equity in 2025
** Up to last close, stock down 65.2% YTD
(Reporting by Pooja Menon in Bengaluru)
((Pooja.Menon@thomsonreuters.com;))
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