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BRIEF-Plug Power announces expanded collaboration with Walmart
July 21, 2017 / 11:17 AM / 5 months ago

BRIEF-Plug Power announces expanded collaboration with Walmart

July 21 (Reuters) - Plug Power Inc

* Plug Power announces expanded collaboration with Walmart

* Plug Power - new agreement includes revised deal terms with Walmart that allow plug power to access project financing at a lower cost of capital and no restricted cash

* Plug Power - as part of agreement, it has granted Walmart warrants to acquire up to 55.3 million of plug power’s common shares

* Plug Power - warrants for first 5,819,652 shares vested upon execution of new program agreements at an exercise price of $2.1231 per share

* Plug Power - additional warrants will vest in installments tied to successive $50 million payment thresholds, up to a total of $600 million

* Plug Power - expects to provide its Genkey hydrogen fueling station and fuel cell energy solutions to up to 30 additional walmart sites in north america over next three years

* Plug Power - ten Walmart sites already under contract and scheduled to be finished by end of 2017; value of 2017 commitments expected to be around $80 million Source text for Eikon: Further company coverage:

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