Plug Power Inc.
Plug Power Announces Agreement to Sell Assets to Stream Data Centers for $132.5 Million
Summary
Plug Power Inc. announced on February 26, 2026, that it has entered into a definitive agreement with Stream Data Centers to sell certain real property and assets for gross proceeds of at least $132.5 million, as part of a strategic infrastructure optimization initiative expected to generate more than $275 million in liquidity improvement. The transaction, which includes the Project Gateway site in New York, is expected to close by June 30, 2026, subject to customary closing conditions. This sale is the first of three phases in Plug Power's strategy to optimize its infrastructure and enhance financial flexibility.
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About Plug Power Inc.
Plug Power Inc. is a leading company in the alternative energy sector, focusing primarily on the development and commercialization of hydrogen fuel cell systems. These systems are designed to replace conventional batteries in equipment and vehicles powered by electricity. By championing hydrogen and fuel cell technologies, Plug Power Inc. aims to address global sustainability challenges by providing clean and reliable energy solutions. The company targets a variety of industries, including material handling, on-road electric vehicles, and stationary power generation. Plug Power’s innovations are crucial for advancing sustainable energy sources, potentially reducing the carbon footprint in key commercial sectors. Established in 1997, and headquartered in Latham, New York, Plug Power Inc. plays a pivotal role in the transition towards eco-friendly and renewable energy platforms. Their expertise is increasingly sought after as global markets place a stronger emphasis on reducing emissions and enhancing energy efficiency. Plug Power Inc. thus stands at the forefront of the shift towards more sustainable industrial practices.
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