Plug Power's beaten-down stock rockets as funding update offers some relief

Beleaguered alternative-energy company Plug Power Inc. offered a positive funding update Tuesday morning, helping to send its shares soaring in premarket action. Plug Power PLUG, +13.65%, which provides hydrogen fuel-cell technology, finalized a term-sheet negotiation with the Department of Energy for a $1.6 billion loan facility, Chief Executive Andy Marsh said on an investor call Tuesday. The company has been experiencing liquidity challenges, issuing a going-concern warning late last year and disclosing ...