Plug Power Finalizes $270 Million Divestiture of SK Hyverse Stake

Jan 15, 2026 (24 hr ago)
Neutral
Plug Power Finalizes $270 Million Divestiture of SK Hyverse Stake
Plug Power finalized the sale of its 49% stake in hydrogen JV SK Hyverse, securing a substantial capital infusion from The Sylvan Group

Strategic Divestiture of SK Hyverse Stake

  • PLUG sold its 49% ownership in the South Korean joint venture, SK Hyverse, to The Sylvan Group1
  • This transaction is valued at $270 million, representing a material change to PLUG's financial standing1, 2
  • SK Group retains the remaining 51% stake in the JV following PLUG's exit from the partnership1

Future Expansion of SK Hyverse Infrastructure

  • The Sylvan Group plans to invest $270 million into SK Hyverse to expand hydrogen refuelling infrastructure across South Korea2
  • This expansion is expected to increase the availability of hydrogen refuelling stations nationally2
  • The investment is intended to support the development of hydrogen-powered buses and other vehicles in the region3

Concerning Core Financial Performance Metrics

  • PLUG's revenue has experienced annualized declines of 12.8% over the past two years4
  • The company's demanding reinvestments have resulted in significant resource drainage over the last five years4
  • The free cash flow margin averaged negative 163%, indicating substantial cash usage relative to revenue4

Current Balance Sheet Health

  • Total debt stands at $598.3 million, exceeding the reported cash balance of $165.9 million4
  • This financial structure limits the company's capacity to return capital to investors4

Operational Footprint and Corporate Engagement

  • PLUG is actively engaging the investment community by participating in the UBS Global Energy & Utilities Winter Conference5
  • The company has deployed over 72,000 fuel cell systems and 285 fueling stations globally5
  • Operational hydrogen plants in Georgia, Tennessee, and Louisiana currently produce 39 tons of hydrogen daily5
Foxly Invest Logo
Foxly InvestAI-Powered All-in-one Investment Platform

Follow us

X.comInstagramDiscord

This information is compiled from multiple sources and does not represent the views or opinions of Foxly Invest. It does not constitute investment advice or a recommendation by Foxly Invest. Investors should carefully evaluate the risks associated with any investment product and, if necessary, consult with a professional investment advisor.

The information provided on this platform is for general informational purposes only. It is not intended to be relied upon as investment advice or a recommendation to buy or sell any security. Foxly Invest does not warrant or guarantee the accuracy, reliability, or completeness of the information.

Copyright © 2026 MacroPulse AI Limited.
Privacy Notice|Account Policy
Foxly Invest Logo

Download Our App

Stay up-to-date with the market and manage your portfolio on the go

Know More
Plug Power Finalizes $270 Million Divestiture of SK Hyverse Stake | Foxly Invest