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Jun 2, 2026 4:00 PM

Plug Power Moves Ahead With Hydrogen Asset Tax Credit Sale

Plug Power Inc. (NASDAQ:PLUG) shares are trading higher on Tuesday. The company is strengthening its liquidity through a recent federal investment tax credit transfer.

This move comes amid a broader market context where the Industrials sector is gaining 0.9%, contributing to a modest 0.2% rise in the S&P 500.

• Plug Power stock is charging ahead with explosive momentum. What’s fueling PLUG momentum?

Sells Federal Tax Credit To Boost Liquidity

Plug Power disclosed the sale of a federal investment tax credit valued at approximately $39.2 million related to its St. Gabriel hydrogen liquefaction facility in Louisiana.

The transaction follows Plug Power's January 2025 transfer of a $30 million Investment Tax Credit (ITC) tied to its Woodbine, Georgia hydrogen project.

Commissioned in April 2025, the St. Gabriel plant is one of the largest hydrogen liquefaction facilities in North America, with capacity to produce up to 15 tons per day. It serves as a key asset in Plug Power's expanding U.S. hydrogen production network.

This transaction is part of the company’s strategy to ...

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