French industrial gases company Air Liquide make strategic $6.5m investment in its partner, Nasdaq-quoted hydrogen fuel cell maker Plug Power.
France-based industrial gases company Air Liquide has invested $6.5m in Nasdaq-listed hydrogen fuel cell maker Plug Power, bringing the total amount raised by Plug Power so far in 2013 to $12m.
Air Liquide’s investment will be used to provide liquidity. Plug Power also sees the investment as an endorsement of its strategy to grow its business of hydrogen fuel cells for forklift trucks and other markets.
Air Liquide’s investment comprises $2.6m invested in convertible preferred stock with a 60% conversion…
