Plug Power signs $132.5M-$142M asset sale to Stream Data Centers, first step of $275M liquidity plan

PLUG POWER INC

Sale of Project Gateway site in New York for gross proceeds of at least $132.5M, up to $142M depending on conditions; $6M deposit from Stream.
Part of a $275M+ liquidity initiative through asset monetization, restricted cash release, and reduced maintenance expenses.
Transaction expected to close by June 30, 2026, subject to customary closing conditions.
Two additional optimization initiatives expected in 2026 to complete the $275M total.
Plug focuses on hydrogen production and fuel cell deployment; Stream to develop hyperscale data center at STAMP park.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

PLUG POWER INC entered into Purchase and Sale Agreement and Joint Escrow Instructions with Stream US Data Centers, LLC valued at between $132.5 million and $142.0 million (effective 2026-02-24).

Action: entry
Agreement: asset purchase
Counterparty: Stream US Data Centers, LLC
Value: between $132.5 million and $142.0 million
Effective: 2026-02-24

Exact text from the filing

On February 24, 2026, Plug Power Inc., a Delaware corporation, and its wholly owned subsidiary, Plug Project Holding Co., LLC, a Delaware limited liability company (together with Plug Power Inc., the “Company”), entered into a Purchase and Sale Agreement and Joint Escrow Instructions (the “Agreement”) with Stream US Data Centers, LLC, a Texas limited liability company (“Purchaser”), pursuant to which the Company agreed to sell to Purchaser certain real property and related assets located in the Town of Alabama, Genesee County, New York (the “Property”). The Company will be entitled to receive a purchase price ranging between $132.5 million and $142.0 million, depending on the timing of closing and the removal status of certain hydrogen storage spheres located on the Property.

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Source: SEC EDGAR

accession 0001104659-26-020476

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