Plug Power (PLUG) agreed to supply 3 gigawatts of electrolyzer capacity to Allied Green Ammonia for a hydrogen-to-ammonia plant being built in Australia.
Financial details weren't disclosed.
A design package outlining technical details and engineering specifications of the electrolyzer system is being developed "to attract investors and finalize financing," Plug Power said Wednesday in a statement.
A final investment decision is anticipated by Q2 with Plug Power set to deliver the electrolyzers starting in Q1 2027.
Shares of Plug Power rose 6.8% in recent Wednesday trading.
Price: 2.84, Change: +0.18, Percent Change: +6.77
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