Plug Power rises as Australia hydrogen project reaches FID
07/07/2026 12:31
BUZZ-Plug Power rises as Australia hydrogen project reaches FID ** Shares of fuel cell maker Plug Power PLUG.O rise 4.2% to $2.75 premarket
** PLUG says the 50‑MW Hunter Valley Hydrogen Hub (HVHH) in Australia, developed by Orica, reaches final investment decision (FID) and moves into execution
** Co says this move enables deployment of its GenEco PEM electrolyzers for the project
** Plug says the HVHH is Australia’s largest green hydrogen project to reach FID and the first Hydrogen Headstart recipient to enter execution, backed by A$432 million in ARENA credits.
** Co says the facility will produce about 4,700 tonnes of renewable hydrogen per year, displacing roughly 7.5% of Orica’s natural gas use at Kooragang Island
** As of last close, stock up 34% YTD
(Reporting by Varun Sahay in Bengaluru)
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