Published December 4, 2014 7:43am EST | Updated January 8, 2015 3:00pm EST

Plug Power's Stock Rallies After New Contract Announcement

Plug Power's stock ran up 10% in premarket trade Thursday, after the company announced a contract valued at $20 million for its ReliOn fuel cell power and GenFuel hydrogen services. Plug said under the contract, it will support up to 500 sites for an undisclosed, "major North American telecommunications provider." Plug's stock has more than doubled so far this year through Wednesday, compared with a 12% rise in the S&P 500.