Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Norges Bank Increases Stake in Plug Power to 7.95%

Credit: Plug Power

Norway's central bank, Norges Bank, has raised its stake in Inc (NASDAQ: PLUG), now holding 7.95% of the US green solutions provider. The bank has acquired nearly 69.7 million shares with voting rights, according to a filing made public on Thursday.

Norges Bank clarified that this investment was not intended to change or influence the control of Plug Power or any related transactions. Previously, the bank held over 25.6 million shares, valued at approximately USD 266 million (EUR 243.1 million), which represented a stake of about 2.9% as of June 30.

Following the announcement, Plug Power's shares rose 7.61% to close at USD 2.12 in New York, giving the company a market capitalization of around USD 1.85 billion.

Plug Power specializes in providing solutions for an end-to-end ecosystem, having deployed more than 69,000 systems and over 250 fueling stations. Recently, the company entered a binding framework agreement with Allied Green (AGA) to finalize a 3-GW electrolyzer supply deal for AGA's planned green hydrogen-to-ammonia plant in Australia, projected to be one of the largest in the world.

Add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Keep Up to Date with the Most Important News

By pressing the Subscribe button, you confirm that you have read and are agreeing to our Privacy Policy and Terms of Use