Plug Power (PLUG) unveils $275M liquidity plan, pivots to data‑center backup power, pauses DOE loan efforts — stock pops ahead of Q3 results (Nov. 10, 2025)
Plug Power Inc. (NASDAQ: PLUG) said this morning it expects to unlock more than $275 million in near‑term liquidity by monetizing certain assets and cutting operating costs—and, notably, by pursuing a non‑binding LOI to monetize electricity rights in New York and another U.S. location while collaborating with a domestic data‑center developer on hydrogen fuel‑cell backup and auxiliary power. The company also paused its activities related to the U.S. Department of Energy (DOE) loan program, redirecting capital to faster‑payback opportunities. Shares rose in pre‑market trading following the announcement. Plug Power+1 Key takeaways What happened In a press release before the open,