TLDR
- Plug Power stock surged 26% after announcing a new $5.5 billion electrolyzer project in Uzbekistan with partner Allied Green Ammonia
- CFO Paul Middleton bought 650,000 additional shares at $1.03 per share, following a 350,000 share purchase in May
- The 2-gigawatt facility will produce sustainable aviation fuel, green urea, and green diesel with government backing
- Retail chatter increased 1700% on Stocktwits with bullish sentiment at 67/100
- Final investment decision for the project expected in Q4 2025, with no operational facilities yet running
Plug Power shares rocketed 26% Monday after the hydrogen fuel cell company announced a new partnership in Uzbekistan. The deal expands the company’s collaboration with Australia’s Allied Green Ammonia for a massive electrolyzer project.
The new 2-gigawatt facility forms part of a $5.5 billion green chemical production complex in Uzbekistan. The plant will manufacture sustainable aviation fuel, green urea, and green diesel using Plug’s electrolyzer technology.
The Uzbekistan government is backing the project. This support strengthens Plug’s position as a global electrolyzer provider for large-scale clean energy initiatives.
2.5 days to #Cover #Volume $Plug
Plug’s electrolyzer technology has been selected as the foundation of a new $5.5 billion green chemical production facility in Uzbekistan that will produce sustainable aviation fuel, green urea, and green diesel. pic.twitter.com/obAlOFZJD4
— @Hydrogen2030 (@wind4me) June 9, 2025
The deal builds on Allied Green’s previous 3-gigawatt electrolyzer commitment for its Australian green ammonia facility. Together, the companies now have a 5-gigawatt partnership spanning two continents.
However, none of these facilities are operational yet. The Australian portion awaits a final investment decision in Q4 2025, while the Uzbekistan project has no set timeline.
Insider Confidence Shows
CFO Paul Middleton demonstrated confidence by purchasing 650,000 shares at $1.03 per share. This follows his acquisition of 350,000 shares in May.
“I continue to see meaningful upside and believe Plug remains one of the most compelling growth opportunities in the energy sector,” Middleton said. His open market purchases total over $1 million in recent months.
The insider buying coincided with a surge in retail investor interest. Stocktwits reported a 1700% jump in message volume about Plug Power stock.
Retail sentiment reached bullish territory at 67 out of 100. Investors discussed the company’s potential in data center backup power systems starting in late 2025.
Financial Challenges Persist
Despite the partnership news, Plug Power faces financial headwinds. Revenue fell 30% in 2024 to $629 million after reaching $891 million in 2023.
First quarter 2025 showed some improvement with 12% year-over-year sales growth. However, the company continues losing over $2 billion annually while burning nearly $950 million in cash.
Plug Power is seeking shareholder approval to issue more stock to raise capital. The company also wants to avoid a reverse stock split that could hurt share price performance.
The stock has dropped 44% year-to-date despite Monday’s surge. Trading volatility remains high as investors weigh growth prospects against cash burn concerns.
Some retail investors remain optimistic about the long-term outlook. One Stocktwits user noted that growth companies often experience initial losses before turning profitable.
The company expects increased demand for its green hydrogen fuel cells as backup power for data centers. This application could provide new revenue streams in the second half of 2025.
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