Plug Power (NASDAQ:PLUG) stock opened in the green today after the company announced a plan that would reduce its annual operational expenses by $75 million. Plug expects to incur a one-time $15 million implementation cost to initiate the plan. The plan includes four pillars: operational consolidation, strategic workforce adjustments, additional cost-saving measures and a commitment to shareholders.“The implementation of this strategic plan is essential for Plug to sustain its market leadership and continue ...

Plug Power Inc (NASDAQ: PLUG) is trading up in premarket on Wednesday after announcing a plan to lower its annual operational costs by over $75 million$PLUG to cut unspecified number of jobsCopy link to sectionThe hydrogen fuel cells company expects implementation of that initiative to cost it $15 million (one-time). $PLUG also confirmed that a yet to be determined number of employees will lose jobs as part of the cost cut programme. According to Andy March – the chief executive of Plug Power Inc:The implem ...

Plug Power Inc. plans to eliminate jobs and take other cost-cutting measures through an initiative meant to save $75 million a year, the company said Wednesday. The alternative energy company “will undertake strategic adjustments to its staffing levels,” it said in a release. The cuts are “made in the interest of preserving the company’s agility and innovation capacity.” The company didn’t disclose the scale of the layoffs in the release. A... Master your money. Subscribe to MarketWatch. Get this a ...

LATHAM, N.Y., Feb. 14, 2024 (GLOBE NEWSWIRE) -- In a strategic move to enhance its financial performance and ensure long-term value creation in a competitive market, Plug Power Inc. (NASDAQ:PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, today announced a comprehensive initiative designed to significantly reduce its annual operational expenses by more than $75 million. This ambitious plan will be executed with an expected one-time implementation cost of $15 million ...

New inflation data has the stock market showing red today. But it was especially bad news for some companies, and Plug Power (PLUG -10.07%) is one of them. That's why Plug shares plunged as much as 10.7% Tuesday morning. As of 11:30 a.m. ET, Plug Power shares remained down by 9.7%.Today's action reverses what had been a nice upswing in Plug Power stock. Over the last month, shares in the hydrogen fuel company have moved higher by almost 20%, even with today's decline.Interest rates will be higher for longer ...

Plug Power (NASDAQ:PLUG) stock is up a tidy 4% today on news that the hydrogen maker delivered “first-of-its-kind” portable liquid hydrogen refuelers to several transit firms and trucking fleets. Plug’s HL-450D-P purportedly offers the benefits of a complete hydrogen fueling station on an easily transportable platform, requiring only a single electrical connection.The product was designed to help improve time and efficiency costs for medium and large hydrogen-powered commercial vehicles. Per Andy Marsh, Plu ...

Plug's first-of-its-kind portable refueler hits the roads to support cost-effective adoption of commercial fuel cell electric vehicle fleets Removes significant barrier to consideration of fuel cell electric vehicles LATHAM, N.Y., Feb. 12, 2024 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ:PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, delivered several first-of-its-kind liquid hydrogen portable refuelers to transit agencies and trucking fleet customers. Plug's HL-4 ...

Plug Power (PLUG 1.91%) shares have soared more than 50% over the last three weeks. Those gains would have been even higher had it not been for a big drop this week. As of early Friday morning, Plug stock is down 10% since last Friday's close, according to data provided by S&P Global Market Intelligence.Green hydrogen generation networkCash and cash equivalents have dropped from about $690 million at the end of 2022 to just about $110 million on Sept. 30, 2023. That's due to delays in building its hydrogen ...

The latest trading session saw Plug Power (PLUG) ending at $4.19, denoting a -0.71% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.06%. On the other hand, the Dow registered a gain of 0.13%, and the technology-centric Nasdaq increased by 0.24%.Shares of the alternative energy company have appreciated by 4.46% over the course of the past month, underperforming the Industrial Products sector's gain of 4.91% and the S&P 500's gain of 6.45%.The investment ...

Plug cryogenic trailers have been filled with liquid hydrogen for delivery at east coast pedestal customer sites - two days following commencement of operations. Design improvements on the Tennessee plant enhance the efficiency of the generation facility. Between Georgia and Tennessee, Plug now has about 25 tons per day of liquid hydrogen production capacity, further enhancing the overall generation network in the US. LATHAM, N.Y., Feb. 08, 2024 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ:PLUG), a global le ...