Why Plug Power Stock Rose Friday

Back in January, hydrogen fuel cell technology company Plug Power (NASDAQ: PLUG) announced its intention to launch a joint venture (JV) with French automaker Renault (OTC: RNSDF). Today the companies made good on their plans, moving Plug Power stock about 5% higher as of 10:45 a.m. EDT.

The new JV, called HYVIA, will operate from four sites in France. In a joint statement, the companies said HYVIA "intends to contribute to the decarbonization of mobility in Europe positioning France as industrial, commercial and technology leader." HYVIA will produce fuel cell-powered light commercial vehicles, build hydrogen charging stations, and supply green hydrogen. It will also manage and maintain the fleets. 

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Source Fool.com