Plug Power Provides Funding Update

January 24, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--Hydrogen ecosystem developer Plug Power Incorporated (NASDAQ:PLUG) (Latham, New York), which has been facing liquidity issues, recently finalized a term sheet to receive a $1.6 billion loan from the U.S. Department of Energy (DOE) (Washington, D.C.), which, if agreed to, "would support the development, construction and ownership of up to six hydrogen-production facilities," Chief Executive Andy Marsh said on an investor call Tuesday. Industrial Info is tracking eight projects worth $1.2 billion in the U.S. from Plug Power, as well as a hydrogen plant in Georgia that recently became operational.