Plug Power Flat Premarket on Tax-Credit Sale as Competition Intensifies
PLUG•PLUG•PLUG•PLUG•Plug Power is positioned in a fierce data-center power market, racing peers after FuelCell Energy's proposal pipeline surged to 4 GW, up 267% quarter-over-quarter. On Friday premarket, Plug Power shares paused as investors evaluated the company's tax-credit sale aimed at boosting liquidity.
FuelCell Energy's proposal pipeline jumped to 4 GW, a 267% quarter-over-quarter increase driven by AI infrastructure demand. Plug Power is among the direct rivals vying for behind-the-meter baseload contracts as hyperscale data centers seek to bypass multi-year grid interconnection queues.
Plug Power executed a tax-credit sale to bolster its cash position amid ongoing capital needs. The announcement led to flat trading in Friday's premarket session as investors assessed the impact of this liquidity-focused measure on the company's funding runway.
