Olin Surges On Signing MOU With Plug Power To Produce Green Hydrogen

(RTTNews) - Olin Corp. (OLN) shares are gaining more than 13 percent on Friday morning trade after the company signed a memorandum of understanding with Plug Power Inc. (PLUG) to create a joint venture to produce and market green hydrogen.

The JV will be operational in 2023 and will set up the first production plant in St. Gabriel, Louisiana with a capacity to produce 15 tons per day of green hydrogen.

Currently, shares are at $60.22, up 13.07 percent from the previous close of $53.26 on a volume of 1,042,378. For the 52-week period, the shares have traded in a range of $39.90-$64.76 on average volume of 1,932,145.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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