On Wednesday, Shares of Plug Power Inc (NASDAQ:PLUG), lost -5.96% to $2.05.
Plug Power a leader in providing clean, reliable energy solutions strongly supports the Fuel Cell Tax Extenders Act of 2015 introduced by Representative John Larson (CT-01) with original co-sponsors Representatives Paul Tonko (NY-20) and Chris Gibson (NY-19) on Friday, September 18, 2015. The bi-partisan bill will extend federal incentives for residential, commercial and vehicular fuel cell use in addition to extend and expand credits for hydrogen infrastructure. This legislation will provide important certainty for fuel cell manufacturers and Plug Powers GenDrive and ReliOn customers.
The current tax incentives for fuel cell vehicles and hydrogen infrastructure are set to expire at the end of this year, while the fuel cell investment tax credit for material handling and stationary fuel cells will end on December 31, 2016. This legislation will extend all of the credits through the year 2021. The Fuel Cell Extenders Act of 2015 assists to level the playing field, enabling customers of all sizes to invest in new business-improving technology like hydrogen fuel cells.
The existing tax credits have been very successful in sparking great interest and demand for hydrogen and fuel cell solutions, thus passing this bill now will assist keep that momentum strong, said Andy Marsh, CEO at Plug Power. I commend Representatives Larson, Tonko and Gibson for their steadfast support for hydrogen fuel cell technology adoption and for Plug Powers continued growth.
Plug Power Inc. is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used for the industrial off-road market and the stationary power market. The Companys product line comprises GenKey, GenDrive, GenFuel, GenCare and ReliOn. GenKey offers solutions to customers transitioning their material handling vehicles to fuel cell power.
Shares of VIVUS, Inc (NASDAQ:VVUS), declined -2.41% to $1.62, during its last trading session.
VIVUS declared that its Board of Directors has determined that it expresses no opinion and remains neutral toward the unsolicited tender offer by IEH Biopharma LLC, a Delaware limited liability company and wholly-owned partner of Icahn Enterprises Holdings L.P. (together, the Icahn Group), to purchase any and all of VIVUSs 4.50% Convertible Senior Notes due 2020.
The Company noted that its Board believes each noteholder should make their own decision as to whether to tender in connection with the Icahn Groups unsolicited tender offer based on the noteholders particular circumstances. It further indicated that its Board believes the determination is a financial decision to be made by each noteholder based on the terms of the tender and the cash price being offered by the Icahn Group. Accordingly, the Board concluded that it would be appropriate to remain neutral as to whether the noteholders should or should not tender the notes.
The Board, however, strongly urges the Companys noteholders to consider carefully all aspects of the Icahn Groups offer before deciding for themselves whether to tender.
VIVUS, Inc. is a biopharmaceutical company. The Company is engaged in the development and commercialization of therapeutic products. It provides two therapies approved by the Food and Drug Association (FDA), which comprise Qsymia (phentermine and topiramate extended-release) for chronic weight administration and STENDRA (avanafil) for erectile dysfunction (ED).
Finally, Shares of Public Service Enterprise Group Inc (NYSE:PEG), ended its last trade with 0.68% gain, and closed at $39.94.
Public Service Enterprise Group declared recently that Daniel J. Cregg, presently vice-president of finance for PSE&G, was elected by the Board of Directors to be Executive Vice President and Chief Financial Officer for the company effective October 8. He succeeds current CFO, Caroline Dorsa whose formerly declared retirement will be effective at that time.
During his 24-year career at PSEG, Cregg has held the senior financial position at both PSE&G, New Jerseys largest gas and electric utility, and PSEG Power, a major independent power producer.
Dan brings a deep understanding of the financial and business needs of our two main auxiliaries, said Ralph Izzo, president, chairman and CEO, PSEG. His in-depth knowledge of these businesses and our industry will enable him to effectively and seamlessly fill the role of CFO from day one. I look forward to working with him in his new position.
Public Service Enterprise Group Incorporated (PSEG) is an energy holding company engaged in the transmission of electricity and distribution of electricity and natural gas. Its operations are located in the Northeastern and Mid- Atlantic United States. It conducts its business through two direct wholly owned auxiliaries: PSEG Power LLC (Power) and Public Service Electric and Gas Company (PSE&G).
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