Shares of Plug Power Inc. (PLUG) are moving up about 6 percent on Thursday morning trading after the company announced that it has been awarded the Front-End Engineering Design (FEED) contract to supply a 275 MW GenEco PEM electrolyzer system for Hy2gen Canada Inc.'s "Courant" project.
The company's shares are currently trading at $2.39 on the Nasdaq, up 6.22 percent. The stock opened at $2.1950 and has climbed as high as $2.43 so far in today's session. Over the past year, it has traded in a range of $0.69 to $4.58.
The company said that the contract reflects Plug's ability to support large-scale hydrogen and hydrogen-derived products.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.