Plug Power agrees Stream US data center deals worth about $90.5 million in liquidity, closing expected around July 31
AI Market Summary
Plug Power announced two transactions with Stream US Data Centers expected to add about $80M+ near-term liquidity, including a Texas project sale (up to $76.5M) and collateral release, plus amended terms on the New York Gateway Project that accelerate escrow cash release. The deals support management's 2026 liquidity and cash-flow objectives, though the stock remains in a weak technical trend amid softer index futures.
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NCSKPLUG2USD/USDT-1.81%
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Plug Power said on Monday it struck two transactions with Stream US Data Centers, including a sale of its Graham, Texas, project for up to $76.5 million and the release of about $14 million in cash collateral, for roughly $90.5 million in liquidity. The company also amended its agreement for the New York Gateway Project to secure an early release of a $6.5 million escrow deposit. The deals are expected to close around July 31, and Plug said the additional liquidity supports its 2026 cash flow goals.
