US green hydrogen firm Plug Power has inked a $525m loan agreement with Yorkville Advisors as it looks to shore up its finances.
Plug will receive $210m immediately and can access more later if needed. Up to $82.5m will be used to pay off an older debt that could have diluted existing shares.
Ahead of its May financial report, Plug Power estimated Q1 2025 revenues of $130-$134m and expects a significant reduction in cash burn, using $142m compared to $268m in the same period last year.
Plug Power ended March 2025 with approximately $296m in unrestricted cash, and off the back of new cost-cutting efforts and better deals with customers, the company claims it has enough money to grow and won’t need to sell more shares in 2025.
