Recovering from what had been a disappointing start to the week, Plug Power (NASDAQ: PLUG) stock is ripping higher today. With the company's announcement of a potential new partner, investors are energized about picking up shares of the fuel cell specialist.

As of 1:52 p.m. ET, shares of Plug Power are up 8.8%, retreating from their earlier rise of 13.5%.

Plug Power and Allied Green Ammonia, an Australian ammonia production company, are exploring the development of a hydrogen-to-ammonia production facility in the Northern Territory of Australia. Should the project advance, Plug Power will supply up to 3 gigawatts of electrolyzer capacity.

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Source Fool.com