FuelCell Energy Inc (FCEL)

[Good Timer]

PLUG has big news that should send FCEL to new highs tomorrow:

Plug Power and SK Group to form partnership to accelerate hydrogen as an alternative energy source in Asian markets; SK Group will make a $1.5 bln investment in PLUG; stock halted
6:04 PM ET 1/6/21 | Briefing.com
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4:00 PM ET 1/6/21


Co and SK Group, one of the leading South Korean business groups, announce they intend to form a strategic partnership to accelerate hydrogen as an alternative energy source in Asian markets. Plug Power and SK Group intend to provide hydrogen fuel cell systems, hydrogen fueling stations, and electrolyzers to the Korean and broader Asian markets. Cos entered into a definitive agreement for SK Group to make a $1.5 bln strategic investment in Plug Power and are announcing a plan to form a joint venture in South Korea to support the rapidly growing Asian Market. This investment represents the largest U.S. clean energy PIPE in the last 20 years. Under the terms of the investment, a US subsidiary of SK Group will make a $1.5 bln investment in Plug Power by acquiring approximately 51.4 mln shares at $29.2893 per share. The investment is expected to represent an approximate 9.9% pro forma ownership stake in Plug Power. Transaction is expected to close in 1Q21.