BUZZ-Plug Power rises on liquidity improvement measures
Reuters
Nov 10
BUZZ-<a href="https://laohu8.com/S/PLUG">Plug</a> Power rises on liquidity improvement measures
** Shares of hydrogen fuel-cell maker Plug Power PLUG.O jump 10.2% premarket after the company announces a plan to improve liquidity by over $275 million
** The improvement strategy involves asset monetization, release of restricted cash, and reduced maintenance expenses
** Co signs non-binding Letter of Intent to monetize electricity rights in New York and another location, partnering with a U.S. data center developer
** PLUG says it will redirect capital from the Department of Energy loan program toward higher-return opportunities within its hydrogen network
** As of last close, PLUG shares up 24.4% YTD
(Reporting by Sumit Saha in Bengaluru)
((Sumit.Saha@thomsonreuters.com;))
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