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Plug Power sells Graham, Tex. project, amends sale agreement for N.Y. Gateway Project

This article was originally posted on Chemical Engineering Online.
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Summary
Plug Power announced two transactions with Stream Data Centers: the sale of its Graham, Texas project and an amended sale agreement for the New York Gateway Project. These moves are part of Plug’s strategic infrastructure optimization plan aimed at improving liquidity by more than $275 million through asset monetization, releasing restricted cash, and reducing maintenance expenses.

Do you think asset sales and amended agreements like these are enough to strengthen Plug Power’s liquidity, or should the company pursue additional financing or partnership strategies?

Plug Power, Inc. (Latham, New York)  announced two transactions with Stream US Data Centers, LLC (Dallas, Texas), advancing the company’s previously announced strategic infrastructure optimization initiatives, which collectively target more than $275 million in liquidity improvement through a combination of asset monetization, release of restricted cash, and reduced maintenance expenses. In addition, Stream and Plug […]

The post Plug Power sells Graham, Tex. project, amends sale agreement for N.Y. Gateway Project appeared first on Chemical Engineering.

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