Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Shares of hydrogen firm Plug Power (NASDAQ” PLUG) are trading slightly lower premarket on Friday following the company’s announcement of a partnership with the Alpine F1 team.
Plug Power’s logos will be present on Alpine’s A521 cars and the team’s racewear.
The collaboration with Alpine will complement the joint venture between Renault Group and Plug Power to explore opportunities for hydrogen solutions in on-road vehicles.
The Renault announcement was made back in January, which will see them look to develop the hydrogen powertrain for light commercial vehicles in Europe.
“The breadth of opportunities for hydrogen fuel cell-powered hybrid electric vehicles is endless. Plug Power is encouraged to work on filling the need for sustainable solutions for activities in motorsport, on-road vehicles, and beyond.”
Premarket on Friday, Plug Power’s share price is trading 1% lower at $33.75.
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