Plug Power to develop fuel cell range extenders for FedEx trucks

|About: Plug Power, Inc. (PLUG)|By:, SA News Editor

Plug Power (PLUG) +5.4% premarket on news it will develop hydrogen fuel cell range extenders for 20 FedEx Express electric delivery trucks, allowing FedEx Express to nearly double the amount of territory the vehicles can cover with one charge.

The $3M project is funded by the U.S. Department of Energy.

PLUG has been on a tear, soaring 78% since its Jan. 2 announcement that it met Q4 2013 order targets and expected Q1 2014 bookings to meet or exceed Q4 bookings.