U.S. stock hydrogen energy giant Plug Energy rose more than 1% in pre-market trading. It is reported that Plug Energy (PLUG.US) has won the largest multi-site electrolyzer order in Europe to date.
Lhyfe, which is listed on Euronext Paris, has ordered 10 5 MW PEM electrolyzer systems from the company to produce green hydrogen at various plants in Europe.
First Solar rose 1% after Goldman Sachs analyst Brian Lee upgraded the company to buy from sell and raised his price target to $172 from $60. He said the company benefited from the Production Tax Credit and the Inflation Reduction Act, while the company’s exposure to the U.S. was more than 80% and it also benefited from strong demand.
British Petroleum rose more than 2%, Occidental Petroleum and ConocoPhillips rose more than 1%.
European metals industry figures have warned that the energy crisis poses an “existential threat” to its future, with many executives concerned that many smelters are at risk of permanent closure in the absence of urgent action from the European Union.