Plug Power provided a business update, announcing two transactions with Stream Data Centers to improve liquidity. The company also disclosed its preliminary, unaudited cash position as of June 30, 2026, which stands at approximately $162 million.
Key Highlights
- The company announced a definitive agreement to sell its Graham, Texas project to Stream for up to $76.5 million, consisting of $50 million at closing and a potential earnout of up to $26.5 million.
- The agreement for the New York Gateway Project was amended to a staged closing, fixing the purchase price at $142 million and allowing for the prompt release of a $6.5 million escrow deposit to Plug.
- In total, these two transactions are expected to provide more than $80 million in near-term liquidity as part of a broader strategic initiative targeting over $275 million in liquidity improvement.