Plug signs agreement to supply liquid green hydrogen to Amazon

Plug Power Inc. has signed an agreement to supply 10,950 tons per year of liquid green hydrogen fuel to Amazon operations in the US.

Plug will provide Amazon with hydrogen beginning January 1, 2025, using its electrolyzers, liquefaction capabilities, and cryogenic tankers.

The company has also granted Amazon a warrant to acquire up to 16 million shares of its common stock (Warrant Shares), at an exercise price of US$22.984 per share for the first 9,000,000 Warrant Shares. The exercise price for the remaining 7 million will be an amount per share equal to 90% 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 million Amazon warrant shares.