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Plug Power (PLUG) is back in the spotlight this May after a big jump on April 28, thanks to news of a new $525 million secured loan and some strong early results for the first quarter. This rally comes at an important time for both the company and the hydrogen industry, which is picking up speed as countries push harder for cleaner energy.
The hydrogen sector itself is growing fast. Hydrogen demand hit 97 million metric tons in 2023, up 2.5% from the year before, and it could climb to about 150 million metric tons by 2030 as more industries and transport options start using hydrogen.