Connect with us

Business

South Korea’s SK Group to invest $1.5 billion in fuel cell maker Plug Power – Reuters

South Korea-based conglomerate SK Group will take a 9.9% stake worth $1.5 billion in hydrogen fuel cell maker Plug Power Inc and form a joint venture to help provide…

Published

on

post featured image
ADVERTISEMENT

By Reuters Staff
(Reuters) – South Korea-based conglomerate SK Group will take a 9.9% stake worth $1.5 billion in hydrogen fuel cell maker Plug Power Inc and form a joint venture to help provide hydrogen fuel cell products to Asian markets, the companies said.
As part of deal, a U.S. unit of SK Group will acquire about 51.4 million shares of Latham, New York-based Plug Power at a price of $29.2893 per share.
Plug Power shares were up 20% in extended trading on Wednesday after closing 7% firmer.

Click here to view the original article.

Continue Reading
Advertisement

You might also like ...

Article feature image
Goldman Sachs internal memo unveils new cryptocurrency trading team – CNBC
Article feature image
As dogecoin price tops 60 cents, Elon Musk says ‘please invest with caution’ ahead of ‘Saturday Night Live’ guest-host gig – MarketWatch
Article feature image
Countries are sitting on millions of J&J vaccine doses, report says – Business Insider