Why General Electric, Plug Power, and Bloom Energy Stocks All Popped Today

Good news for hydrogen stock investors: General Electric (NYSE: GE) thinks you may be onto something.

Yesterday, GE announced it has won $12 million in funding for two pilot projects from the U.S. Department of Energy (DOE), in which the company will "develop and test key components required for high hydrogen combustion," using a "100% hydrogen fuel stream" to generate electricity.

GE stock is rising on the news. (Admittedly, most stocks are up today, with the S&P 500 gaining 1.7% as of 11:55 a.m. ET, but GE stock is up twice that with a 3.8% gain. Additionally, shares of hydrogen fuel cell specialist and hydrogen gas producer Bloom Energy (NYSE: BE) and Plug Power (NASDAQ: PLUG) are up 5.5% and 6.5%, respectively.

Source Fool.com