Plug Power Buys Fuel Cell Stack Maker ReliOn for 4 Million

By | April 2, 2014

Plug Power Inc said it bought fuel-cell stack maker ReliOn Inc in an all-stock deal and looks to diversify its supplier base. Plug Power shares rose 4.5 percent at the end of day as the deal also helps the fuel-cell maker expand into the stationary back-up fuel cell market. Plug Power said it expects the acquisition to add to earnings in 2015 and contribute to the development of its GenDrive fuel-cell systems.

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