Plug Power secures $6.5M strategic investment from Air Liquide

theflyonthewall.com

Plug announced a $6.M strategic investment from its partner Air Liquide, which includes a preferred stock purchase, increased ownership of the companies' HyPulsion joint venture and an engineering services contract. The investment is a significant endorsement of Plug Power's strategy to grow its business of hydrogen fuel cells for forklift trucks and other horizontal markets. The company has seen sales of its GenDrive fuel cells increase by 36% in 2012.

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