New York, Feb 27, 2026, 06:55 EST — Premarket
Plug Power Inc trimmed 0.5% to $1.90 ahead of the bell Friday, following news that the hydrogen fuel-cell company has locked in a definitive deal to offload its Project Gateway site in New York to Stream Data Centers for no less than $132.5 million. Investing.com
This deal marks one of Plug’s most direct moves in recent months to shore up liquidity—the cash and equivalents it relies on to keep operations going—as investors remain skittish about pouring money into loss-making clean-energy stocks. “By optimizing our assets and unlocking value from existing infrastructure, we are strengthening liquidity,” President and Chief Revenue Officer Jose Luis Crespo said in a statement.
Plug has been eyeing the data-center power sector in a bid to lock in bigger returns outside its mainstay hydrogen operations. Back in November, the company projected it could pull in upwards of $275 million—by selling off assets, freeing up restricted cash, and trimming maintenance costs—while it made its move into the data-center space, which has been seeing brisk growth. Reuters
The deal hasn’t closed yet. Plug, in an 8-K filing, put the purchase price somewhere between $132.5 million and $142.0 million, hinging on when the sale gets finalized and whether certain hydrogen storage spheres are cleared from the site. There’s a firm cutoff: June 30, 2026. The document also outlined a handful of conditions for closing—Plug needs an insurable title, appropriate permits, must meet environmental review requirements, secure certain approvals, and the buyer has to lock in a lease with a tenant.
The properties are located at 6840 Crosby Road, Basom, New York, covering about 29.9 acres. According to the purchase agreement filed with regulators, the assets also feature a “mini substation” that steps power down from 115kV to 34.5kV.
Among other fuel-cell stocks, Bloom Energy finished up. FuelCell Energy and Ballard Power Systems barely budged in late trading.
Plug wrapped up Thursday at $1.91, logging a session range from $1.82 up to $1.92. Roughly 110.8 million shares changed hands, price data show. StockAnalysis
Now, traders are watching to see if Plug offers more specifics on the other elements of its asset-monetization strategy, and if management moves any closer to bridging the divide between its cash requirements and available funding.
Plug’s quarterly numbers land March 2, marking the next real catalyst. tradingview.com
