2022-08-25 09:11:31 PLUG Plug Power
Amazon.com
08/25/22 08/2509:11 08/25/2209:11 | Plug Power, Amazon sign green hydrogen agreementPlug Power Inc. (PLUG) signed a hydrogen supply deal with Amazon (AMZN) to provide liquid green hydrogen starting in 2025 to help decarbonize Amazon's operations as part of its commitment to be net-zero carbon by 2040. This deal with Amazon marks a growth opportunity for Plug and is expected to help the company toward its 2025 $3B revenue goal. Specifically, Amazon and Plug have signed a deal for Plug to supply 10,950 tons per year of liquid green hydrogen to fuel Amazon operations. Using Plug's electrolyzers, liquefaction capabilities and cryogenic tankers, Plug will deliver hydrogen to Amazon beginning Jan. 1, 2025. Plug has granted Amazon a warrant to acquire up to 16,000,000 shares of Plug 's common stock, of which the exercise price for the first 9,000,000 Warrant Shares is $22.9841 per share, which is based on the volume weighted average closing price of Plug common stock for the thirty trading days ending August 23, 2022, and the exercise price for the remaining 7,000,000 Warrant Shares will be an amount per share equal to ninety percent of the 30-day volume weighted average share price of Plug common stock as of the final vesting event that results in full vesting of the first 9,000,000 Amazon Warrant Shares. Amazon would vest the warrant in full if it spends $2.1 billion over the seven-year term of the warrant across Plug products, including, but not limited to, electrolyzers, fuel cell solutions, and green hydrogen. Plug Power
Amazon.com
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