Plug Power (PLUG) Rockets 25.7% on Electrolyzer Delivery for Portugal’s Largest Energy Firm

Core Viewpoint - Plug Power Inc. has experienced a significant stock increase of 25.75% following the delivery of its first 10-megawatt electrolyzer to Galp Energia, Portugal's largest energy company, indicating strong investor confidence in the company's growth potential in the renewable hydrogen sector [1][3]. Group 1: Company Developments - Plug Power delivered its first 10-MW electrolyzer as part of a total of 10 units, which will create a complete 100-MW system for Galp, with the remaining nine units expected to be delivered by early 2026 [2]. - The partnership with Galp is highlighted as Plug Power's largest global collaboration, with the project set to produce up to 15,000 tons of renewable hydrogen annually, replacing 20% of the grey hydrogen currently utilized at the Sines Refinery [3]. - The transition to renewable hydrogen is projected to reduce greenhouse gas emissions at the refinery by approximately 11,000 tons per year [3]. Group 2: Industry Impact - The CEO of Plug Power emphasized that the collaboration with Galp represents a significant advancement in large-scale hydrogen production, suggesting that this system could serve as a model for the refining sector and the broader energy industry in Europe [4].