Plug Power to Receive $217 Million Cash Investment From Interros and Norilsk Nickel

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plug_logo.jpgPlug Power Inc (PLUG) announced that Interros, a major Russian investment firm, and Norilsk Nickel, the world’s largest producer of nickel and palladium, agreed to make a $217 million cash investment in Plug Power. The investment is being made through Smart Hydrogen, a joint venture of the principal Interros investors and Norilsk Nickel, which was formed to participate in the global hydrogen economy. [ more ] After this investment Plug Power will have approximately $285 million in cash. The shares of PLUG are up over 20% this morning in pre-market trading.

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