Plug Power Shares Rise After ITC Transfer For Louisiana Facility

Dow Jones06-03

By Chris Wack

Plug Power shares were higher after the company said it closed the sale of a federal investment tax credit, or ITC, for $39.2 million associated with its hydrogen liquefaction facility in St. Gabriel, La.

The stock rose 6% higher, at $4.28.

The company said the monetization represents another step in improving liquidity and allowing for more capital deployment. The facility is operated through Hidrogenii, its joint venture with Olin Corp.

The transaction builds on Plug's January 2025 transfer of a $30 million ITC associated with its Woodbine, Ga., hydrogen facility. Under current U.S. federal clean energy tax credit provisions, hydrogen liquefaction and storage assets like the St. Gabriel facility qualify for the investment tax credit, which can be transferred to third-party investors.

Plug said the St. Gabriel facility was commissioned in April 2025, and can liquefy up to 15 tons of hydrogen per day.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

June 02, 2026 12:33 ET (16:33 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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