NEW YORK (TheStreet) -- Shares of Plug Power (PLUG) were gaining 7.3% to $3.99 Tuesday after the fuel cell company announced that it installed its first GenFuel hydrogen infrastructure for the ground support equipment market at the Memphis Airport.
The new GenFuel infrastructure is the company's first to use outdoor GenFuel hydrogen dispensers. Plug Power said the new infratsructure will be used to a 15-truck fleet of airpot tuggers that are powered by Plug Power fuel cells.
The company said the outdoor hydrogen dispensers feature an all-weather enclosure that can protect the equipment from "harsh elements that can be experienced on an airport tarmac" including rain, snow, direct sun, high winds, and extreme temperatures.
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"Plug Power's ability to offer customers both indoor and outdoor GenFuel solutions allows us to broaden our reach even further into adjacent markets like ground support equipment," Plug Power CEO Andy March said in a statement.
TheStreet Ratings team rates PLUG POWER INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate PLUG POWER INC (PLUG) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been weak operating cash flow."