Why Plug Power Stock Powered to a 5% Gain Today
Hydrogen fuel cell systems developer Plug Power (NASDAQ: PLUG) was an alt-fuel stock of choice among investors on Tuesday, rising to close more than 5% higher in price. The company benefited from the announcement of a new supply deal, plus selective optimism blanketing stocks in or adjacent to the next-generation vehicle space.
Plug Power announced that it has secured a new delivery order to supply oil and natural gas pipeline company TC Energy. The deal will see Plug Power deliver two 30-tons-per-day hydrogen liquefaction systems to its customer. These deliveries will be made in the second and third calendar quarters of this year, and will serve TC Energy properties that have yet to come onstream.
Plug Power did not provide any financial details of this arrangement.
Source Fool.com
