Plug Power Inc. Announces Real‑Property Sales to Stream US Data Centers

What Happened
Plug Power Inc. (PLUG) filed an 8‑K reporting two material sale agreements with Stream US Data Centers. On July 9, 2026 the company amended its February 24, 2026 Purchase and Sale Agreement for its New York Gateway project (the “Gateway Amendment”), and on July 9, 2026 it also entered a new Purchase and Sale Agreement for the Graham, Texas project (the “Limestone Agreement”). The company issued a press release on July 13, 2026 announcing these actions.

Key Details

• Gateway (New York): the Gateway Amendment fixes the purchase price at $142.0 million and extends the outside closing date to March 31, 2027. The amendment authorizes prompt release to Plug Power of the full escrow deposit (~$6.5 million, with accrued interest) and requires Stream to deposit an additional $10.0 million for an interim closing (both amounts to be credited against the purchase price if the overall transaction closes). The amendment permits an interim closing of the real property, includes a contractual repurchase right for Plug Power under specified conditions, and restricts Stream’s ability to transfer or further encumber the property pending final closing.
• Limestone (Graham, Texas): Stream agreed to pay $50.0 million at closing plus a contingent earnout up to $26.5 million based on electrical load achieved (pro rata to a 164 MW reference). Stream has an inspection period through July 25, 2026 and the parties expect closing on or before July 31, 2026, subject to standard conditions and approvals.
• Cash position: Plug Power reported approximately $162 million of unrestricted cash and cash equivalents as of June 30, 2026 (unaudited, preliminary).

Why It Matters
These transactions move Plug Power toward monetizing real‑estate and related project assets, providing near‑term cash considerations (escrow releases and deposits) and potential additional proceeds (Texas earnout). The Gateway Amendment’s interim closing and repurchase provisions preserve flexibility for both parties while setting a firm New York price and later closing deadline. Investors should note the preliminary cash balance disclosed and that closings remain subject to conditions and regulatory reviews; the filings and press release provide the company’s official terms.