Milbank, Tweed, Hadley & McCloy represented underwriters in a $124 million common stock offering by Plug Power Inc., a fuel cell systems manufacturer. The offering comprised 22.6 million shares and was the largest in Plug Power's history. Morgan Stanley & Co. LLC and Barclays Capital Inc. served as underwriters. The transaction closed on 30 April 2014. New York-based Plug Power plans to use proceeds for general corporate purposes, including capital expenditures and potential acquisitions. The offering was significantly upsized, reflecting investor confidence in the company's order book and customer base. Global Securities partner James Ball led the Milbank team representing the underwriters.

Senator Schumer champions Plug Power's vision for hydrogen and green jobs in New York. Key points. * Senator Schumer supports Plug Power's initiative to establish a new gigafactory. * The factory aims to create hundreds of green energy jobs in New York. * Schumer emphasizes New York's potential as a leader in hydrogen fuel cell technology. * Plug Power's expansion is seen as beneficial for local manufacturing and workforce. In a recent announcement, U.S. Senator Charles Schumer expressed strong support for Plug Power, a leading manufacturer of hydrogen fuel cell systems, as the company seeks to establish a new gigafactory in New York. Schumer's backing comes at a pivotal moment as Plug Power looks to enhance its manufacturing capabilities and capitalizes on the local workforce's strong skill set in fuel cell technology. Recognizing New York's role in the green economy, Schumer highlighted the potential benefits of the new factory, which are expected to include hundreds of new jobs for the upstate region. He stated that the initiative could serve as a win-win situation, boosting both the local economy and Plug Power's production capacity. The senator's proactive outreach to Plug Power's CEO, Andy Marsh, underscores his commitment to promoting green technology and job growth in the state. This support aligns with broader efforts to position New York as a global hub for green energy. As the demand for clean energy solutions continues to rise, endorsements like Schumer's are critical to fostering innovation and investment in sectors like hydrogen fuel. Plug Power's expansion not only represents a significant step forward for the company but also reflects a growing recognition of the importance of hydrogen as a clean energy source, potentially transforming the landscape of energy manufacturing in New York and beyond. April 10, 2026 at 09:20 PM United States