Plug Power (PLUG) Says Barrow Green Hydrogen Project Reaches Final Investment Decision

Plug Power Inc. (NASDAQ:PLUG) is one of the 10 Most Volatile Penny Stocks to Buy Now.

On May 20, 2026, Plug Power Inc. (NASDAQ:PLUG) announced that the 30-megawatt Barrow Green Hydrogen project in Barrow-in-Furness, Cumbria, where Plug is supplying electrolyzers, reached final investment decision. The project is being delivered by Green Hydrogen Energy Company, a joint venture established in 2023 by Schroders Greencoat and Carlton Power. The Barrow project will supply 100 GWh of green hydrogen per year to Kimberly-Clark’s manufacturing plant in the town, where the company makes consumer products including Andrex and Kleenex. Plug said the Kimberly-Clark Barrow site will reduce natural gas consumption by up to 50%, with a reduction of 18,300 tons of CO2 emissions. Under the finalized agreement, Plug will supply 30 MW of its GenEco Proton Exchange Membrane electrolyzers.

On May 12, 2026, B. Riley raised the firm’s price target on Plug Power Inc. (NASDAQ:PLUG) to $5 from $3 and maintained a Buy rating on the shares. B. Riley said Plug reported Q1 revenue well above expectations and improving gross margins, supported by cost actions from its “Project Quantum Leap” initiative. The firm also cited management’s guidance for 13%-15% full-year revenue growth, sequential margin improvement through 2026, and a path toward positive EBITDAS in Q4.

Plug Power (PLUG) Says Barrow Green Hydrogen Project Reaches Final Investment Decision

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On May 11, 2026, Plug Power Inc. (NASDAQ:PLUG) reported Q1 adjusted EPS of (8c), compared to the consensus estimate of (9c). Revenue totaled $163.51M, above the consensus estimate of $141.17M. CEO Jose Luis Crespo said the quarter reflected “strong commercial execution” and progress in improving the underlying economics of the business, while positioning Plug to reach its EBITDAS positive target in Q4 2026.

Plug Power Inc. (NASDAQ:PLUG) designs, develops, and sells hydrogen products and solutions in Europe, Australia, North America, and internationally.

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