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Plug Power Inc. (NASDAQ:PLUG) shares are trading lower on Thursday. The company disclosed a binding supply deal with Allied Biofuels FE LLC (ABF) for up to 2 GW of its GenEco PEM electrolyzer systems. Plug's technology will power ABF's flagship SAF and eSAF facility in Uzbekistan. Following the earlier 3 GW collaboration with Allied Green Ammonia (AGA) in Australia, this new agreement with ABF raises Plug's total contracted electrolyzer capacity with Allied partners to 5 GW across two major projects. Also Read: ‘I Still Can’t Believe It’s Around’: Cramer Rips Plug Power The deal will support ABF's production of sustainable aviation fuel (SAF), electro-SAF (eSAF), and green diesel, with a final investment decision expected in the fourth quarter of 2026. The agreement marks one of the largest electrolyzer supply deals of 2025 and underscores the expansion of large-scale renewable fuel production across Central Asia. Recent Key Events Recently, the company announced a warrant inducement agreement to raise $370 million through a deal priced at $2.00 per share, which sparked significant investor concern over shareholder dilution and overshadowed several positive operational developments. Also, Plug announced the successful first delivery of hydrogen to Germany's H2CAST project, a critical step in its European expansion. Price Action: PLUG shares are down 3.08% at $2.675 at the last check on Thursday. Read Next: Benzinga Bulls And Bears: Beyond Meat, Intel, Newmont — And Inflation Numbers Boost Rate Cut Hopes Image via Shutterstock
