Plug Power Faces Pivotal Shareholder Vote Amid Strategic Refocus

As Plug Power’s leadership concludes its presentations at the UBS Global Energy & Utilities Winter Conference in Park City, investor attention is shifting to a critical shareholder meeting that could reshape the company’s equity structure. This comes alongside a strategic pivot, marked by the company’s unexpected exit from a key Asian partnership.

In a move to conserve cash and streamline operations, Plug Power has divested its 49% stake in the South Korean joint venture, SK Hyverse. The sale to the Sylvan Group, effective at the turn of the year, eliminates the company’s direct capital commitments in the region. Management, including President Jose Luis Crespo, has used the Read more...