June 2016
Plug Power
Canaccord Genuity acts as joint advisor on a $40 million loan facility
Canaccord Genuity is pleased to announce that on June 28, 2016 its client Plug Power, Inc. (NasdaqCM:PLUG) completed a $40 million debt financing.
The proceeds from the offering will be used for working capital and general corporate purposes. The $40 million loan facility was placed with Hercules Capital, one of the largest specialty finance companies and leading provider of structured debt to a range of technology companies and industries.
Plug Power is an alternative energy technology provider and engages in the design, development, manufacture, and commercialization of fuel cell systems for the material handling and stationary power market. The Company has revolutionized the industry with its simple GenKey solution, elements of which are designed to increase productivity, lower operating costs and reduce carbon footprints in a reliable, cost-effective way.
