Generate Capital has invested $100m in Plug Power to fund new project deployments and create financial flexibility to pursue company growth plans.
The facility by Generate is set to accelerate Plug Power’s ongoing expansion by funding new fuel cell project deployments.
The funding will enable Plug Power to complete the restructuring of existing financings. The new capital comes from a debt financing agreement between Plug Power and Generate Capital.
“Generate Capital is providing Plug Power with access to a new source of capital, which will help fund out ongoing deployments and allow the Plug Power team to continue pursing our aggressive market expansion and innovation agenda for 2019,” said Andy Marsh, CEO of Plug Power.
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