Plug Power (PLUG) Signs LOI with Hy2gen for 5MW Electrolyzer in France

Group 1 - Plug Power Inc. signed a letter of intent with Hy2gen to supply a 5MW proton exchange membrane electrolyzer for the Sunrhyse green hydrogen production project in Signes, France [1][2] - The agreement allows Plug Power to manage hydrogen transport, distribution, and provide turnkey hydrogen forklift solutions from the Sunrhyse facility, extending cooperation with Hy2gen in Europe and North America [2] - Hy2gen's Project Courant in Québec, Canada, which features a large-scale electrolyzer, is also part of the ongoing collaboration and aims for a final investment decision before 2027 [2] Group 2 - H.C. Wainwright reaffirmed a Buy rating on Plug Power stock with a price target of $7 following the company's seventh symposium on November 18, 2025, where management presented a customer-centered approach [3] - The symposium allowed customers to share positive feedback on the customized solutions provided by Plug Power [3] - Plug Power focuses on building and operating green hydrogen production and distribution facilities, manufacturing and deploying electrolyzers and fuel cells [4]