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Plug Power shares jump after CEO says investor day will show scaled up ops

Investing.com -- Plug Power Inc (NASDAQ:PLUG) shares were surging after the hydrogen fuel cell developer detailed plans for its investor day on Wednesday.

The company is throwing the event from its Rochester, N.Y., gigafactory to showcase its applications and energy business divisions, including bringing in invited guests. The event is also going to be webcast starting at 11:00 ET.

CEO Andy Marsh said in a statement on Monday that the visitors to the gigafactory will be able to witness how it has scaled up operations. “This operational growth supports our near-term revenue goals of $1.4 billion in 2023 and our long-term target of achieving annual sales of $20 billion by 2030,” he said.

The 2023 goal is ahead of expectations for $1.29B. 

Shares were up 10% on Monday.

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