SLINGERLANDS – Plug Power Inc, a global leader in hydrogen solutions for the green hydrogen economy, has announced the establishment of an equipment leasing platform, targeting more than $150 million in the near to mid-term. This platform will allow Plug to access capital by leveraging its equipment asset base and provide financing solutions to support customer equipment sales growth.
As a first step in this initiative, Plug signed three sale-and-leaseback transactions totaling approximately $44 million with GTL Leasing, a portfolio company of Antin Infrastructure Partners. The transactions involve various gaseous and cryogenic assets, including trailers and storage tanks for the transport and storage of hydrogen.
“These initial transactions and the platform mark a critical step in building strategic partnerships with entities like GTL. The transactions provide immediate capital with a pathway to additional funds in the near term, supporting our growth in the green hydrogen sector and aligning with Plug’s financial and operational objectives,” said Plug CFO Paul Middleton. “We are excited about the opportunities this platform will create for Plug and our partners.”
This leasing platform is designed to enhance Plug’s operational efficiency while offering partners, like GTL, a valuable investment opportunity.
