Plug Power Inc. (PLUG.US) launches equipment leasing financing platform, surging nearly 6%

On Thursday, Plug Power Inc. announced a equipment leasing platform aimed at utilizing its equipment assets to raise funds and provide equipment financing solutions for its customers to support equipment sales growth. The company aims to raise over $150 million through this platform in the short to medium term. Following the announcement, the stock rose nearly 6% as of the time of writing. As a first step in the collaboration, Plug Power Inc. stated that they have signed three sell and leaseback transactions worth approximately $44 million with GTL Leasing, including various gas and cryogenic assets such as trailers and tanks used for transporting and storing hydrogen molecules. The company stated that these transactions enable them to continue acquiring crucial hydrogen equipment while strengthening their financial position.