Plug Power acquires fuel cell developer ReliOn for $4M, shares +4% AH

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

Plug Power (PLUG) +4.1% AH after it expands into the backup fuel cell market with its acquisition of ReliOn, a developer of hydrogen fuel cell stack technology and fuel cell systems, for ~$4M in stock.

PLUG expects the deal to be accretive to earnings in 2015 and to generate ~$1M in EBITDA loss in 2014, while saying it continues to expect to turn a profit this year.

PLUG says ReliOn has had AT&T, Sprint and Verizon as customers.