Market Newsdesk

SLINGERLANDS, N.Y., Nov. 21, 2025 (GLOBE NEWSWIRE) — Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the hydrogen economy, today announced the successful closing of the previously announced offering of $375 million aggregate principal amount of 6.75% convertible notes due 2033, including the full exercise of the initial purchasers’ option to purchase an additional $56.25 million aggregate principal amount of the notes, resulting in a total aggregate principal amount of $431.25 million. Plug received total net proceeds from the offering of approximately $399.4 million, after deducting the initial purchasers’ discount and estimated offering expenses.

The proceeds allow Plug to retire all remaining high-cost 15% debt, refinance its 2026 convertible notes, and eliminate the first lien previously held by its former debt provider. These actions significantly reduce interest expense, simplify Plug’s capital structure, and enhance financial flexibility.

Importantly, the refinancing also extends Plug’s lower cost of capital through an eight-year tenor balloon note, providing stable, long-duration financing with no required amortization over that period. This structure preserves liquidity and eliminates near-term principal repayment pressure.

Together with Plug’s recently announced data center infrastructure agreement, the company now has a fully funded business plan based on its current operating expectations.

“This financing marks a major turning point for Plug,” said Andy Marsh, CEO of Plug Power. “With $399 million in new cash, the removal of the first lien, and reduced interest costs, Plug now has one of the strongest balance sheets in years. Extending our lower cost of capital over an eight-year tenor further enhances our flexibility. We are well positioned to support sales growth in both material handling and electrolyzers as customer demand accelerates.”

Plug already has the manufacturing capacity required to meet its growth trajectory. The strengthened balance sheet provides the stability and flexibility needed to support commercial momentum across material handling fleets, distribution centers, and utility-scale electrolyzer deployments.

About Plug Power

Plug is building the global hydrogen economy with a fully integrated ecosystem spanning production, storage, delivery, and power generation. A first mover in the industry, Plug provides electrolyzers, liquid hydrogen, fuel cell systems, storage tanks, and fueling infrastructure to industries such as material handling, industrial applications, and energy producers—advancing energy independence and decarbonization at scale.

With electrolyzers deployed across five continents, Plug leads in hydrogen production, delivering large-scale projects that redefine industrial power. The company has deployed over 72,000 fuel cell systems and 275 fueling stations and is the largest user of liquid hydrogen. Plug is rapidly expanding its generation network to ensure reliable, domestically produced supply, with hydrogen plants currently operational in Georgia, Tennessee, and Louisiana, capable of producing 40 tons per day.

With employees and state-of-the-art manufacturing facilities across the globe, Plug powers global leaders like Walmart, Amazon, Home Depot, BMW, and BP.

For more information, visit www.plugpower.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties. Forward-looking statements are statements that are not historical facts and include statements regarding, among other things, the effects of the refinancing on Plug Power’s liquidity, balance sheet strength, and capital structure; the Company’s ability to execute on its business plan and operating objectives; anticipated reductions in interest expense; future demand for the Company’s products, including material-handling fuel cells and electrolyzers; the Company’s expectations regarding its data center infrastructure announcement, which may not result in a definitive agreement or be completed on terms contemplated, on acceptable terms, or not at all; and any other statements regarding the Company’s future operations, performance, or financial condition. Forward-looking statements are based on current expectations, estimates, forecasts, and assumptions and are subject to a number of risks and uncertainties, many of which are outside Plug’s control.

Actual results may differ materially from those expressed or implied in these forward-looking statements due to risks and uncertainties, including, but not limited to: the Company’s ability to successfully execute its operating plan; the Company’s ability to achieve the anticipated benefits of the refinancing, including expected reductions in interest expense or improvements to liquidity; risks related to the Company’s need for additional capital in the future and the availability and cost of such capital; risks related to the Company’s liquidity position, indebtedness and financial flexibility; customer demand, market acceptance, and adoption of hydrogen solutions; delays in or failures to build out hydrogen production plants or other infrastructure; supply-chain constraints and cost pressures; risks related to the Company’s ability to scale manufacturing and service operations; the risk of dilution to stockholders from conversions of the notes or future equity or equity-linked financings; changes in economic, market, and regulatory conditions; and other risks described in Plug’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, and its subsequent Quarterly Reports on Form 10-Q and other filings with the SEC.

The forward-looking statements are made as of the date hereof and are based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Plug disclaims any obligation to update forward-looking statements except as may be required by law.

MEDIA CONTACT

Teal Hoyos
[email protected]

NEWPORT NEWS, Va., Nov. 21, 2025 (GLOBE NEWSWIRE) — HII (NYSE: HII) announced today that its Newport News Shipbuilding division has delivered Virginia-class fast-attack submarine Massachusetts (SSN 798) to the U.S. Navy.

Massachusetts is the 12^th Virginia-class submarine delivered by NNS, and the 25^th built as part of the teaming agreement with General Dynamics Electric Boat. It is the fifth Navy vessel named for the commonwealth of Massachusetts.

“Delivering Massachusetts after its rigorous sea trials is an important milestone commitment for our team this year,” NNS President Kari Wilkinson said. “We are absolutely steadfast in our resolve to increase the pace of submarine construction and see this as a solid step toward our overall objective.”

More than 10,000 shipbuilders from NNS and Electric Boat participated in the construction of Massachusetts, alongside thousands of suppliers across the country, including more than 20 in Massachusetts that support Virginia-class submarine construction at NNS.

Nuclear-powered fast attack submarine Massachusetts was christened in May 2023 at NNS by ship’s sponsor Sheryl Sandberg, founder of Lean In, and former chief operating officer of Meta (formerly Facebook).

Photos accompanying this release are available at: http://hii.com/news/hii-delivers-virginia-class-submarine-massachusetts-ssn-798-to-u-s-navy/.

About HII

HII is a global, all-domain defense provider. HII’s mission is to deliver the world’s most powerful ships and all-domain solutions in service of the nation, creating the advantage for our customers to protect peace and freedom around the world.

As the nation’s largest military shipbuilder, and with a more than 135-year history of advancing U.S. national security, HII delivers critical capabilities extending from ships to unmanned systems, cyber, ISR, AI/ML and synthetic training. Headquartered in Virginia, HII’s workforce is 44,000 strong. For more information, visit:

• HII on the web: https://www.HII.com/
• HII on Facebook: https://www.facebook.com/TeamHII
• HII on X: https://www.twitter.com/WeAreHII
• HII on Instagram: https://www.instagram.com/WeAreHII

Contact:
Todd Corillo
[email protected]
(757) 688-3220

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e0093ebd-187d-4bdd-8209-8bdcbc9b3227

NEW YORK, Nov. 21, 2025 (GLOBE NEWSWIRE) — Critical Metals Corp. (Nasdaq: CRML) (“Critical Metals Corp” or the “Company”), a leading critical minerals mining company, today announced that it has acquired & secured one of the largest strategic stockpiles of ultra-high-purity critical copper powder for a consideration of US$20M at US$10 per share, in an all-share transaction acquisition strengthening CRML’s position as a key supplier to advanced defense, aerospace, and technology markets.

• This transaction not only strengthens our western value chain, but also supplies our allied militaries immediately
• An all-share transaction with a long-only multi-generational European based single family office Swiss Commodity RE.

The agreement provides CRML with exclusive access to one of the largest known G7 & EU-origin secured stockpiles of a fully compliant, highly sought after, traceable supply chain and ultra-high-purity (UHP) copper powder, a material so essential to many of the same advanced military applications both classified and unclassified technologies that rely on critical metals and rare earth elements. The all-share transaction (completed at a 40% premium to yesterday’s closing price) is strategic to support CRML’s broader critical-materials platform.

Supply of UHP copper powder has historically been dominated by Russia and China. This acquisition secures a G7/EU-origin, fully traceable resource at scale—supporting Western industrial resilience and giving CRML’s customers dependable access to a material central to innovation across defense and advanced manufacturing.

By integrating this asset, CRML enhances its ability to support customer R&D and production for complex systems, while continuing to advance Tanbreez and its rare earth business as planned.

Tony Sage, Chairman of CRML, commented:

“Ultra-high-purity copper powder is a core input across the advanced defense, aerospace, energy, and semiconductor technologies that also depend heavily on rare earth elements. Securing this Western traceable stockpile strengthens CRML’s role as a key partner to these industries and enhances the strategic relevance of our broader portfolio, including Tanbreez.

“This acquisition immediately expands our Department of War (“DoW”) and North American Treaty Organization (“NATO”) supply capabilities, deepens customer engagement, and supports the development of our critical metals projects through a new non-dilutive and highly commercial opportunity, that benefits our shareholders.”

Details

The Company will issue 2 million Ordinary shares at $US10 per share for 40 kilograms of the UHP 99.96% pure copper powder. This highly sought after material sells for between $US1,500 to $US2,500 per gram. A high-performance material for high-performance industries.

The acquired material is a highly specialized, non-exchange-listed UHP copper powder used only in applications where precision and reliability are paramount. Global demand is accelerating, with analysts projecting 7–8% annual growth driven by:

• Defense & Aerospace: high-density electronics, satellites, guidance systems
• Advanced Energy: solid-state batteries, power electronics
• High Technology: semiconductor fabrication, supercomputing, additive manufacturing

In many of these applications, ultra-pure copper and rare earth elements sit side-by-side within the same high-value components, making the copper powder stockpile a natural strategic fit within CRML’s critical-metals portfolio.

About Copper Powder

Ultra High Purity (UHP) copper powder, often achieving purity levels of 99.9999% or higher, is a specialized material prized for its exceptional electrical and thermal conductivity, making it indispensable in advanced technological applications. It is commonly used in microelectronics for creating conductive pastes and inks, which are essential for printed circuit boards and semiconductor manufacturing. Additionally, UHP copper powder plays a key role in additive manufacturing, such as 3D printing of intricate components for aerospace and automotive industries, where its fine particle size ensures high-density parts with minimal defects. Other notable uses include thermal spray coatings for heat exchangers and protective surfaces, as well as stabilizers in superconducting magnets, where it provides reliable current pathways and efficient heat dissipation during operation.

The value of UHP copper powder stems from its ability to meet the stringent demands of high-tech sectors, where even minor impurities could compromise performance, leading to failures in critical systems like electronics or energy infrastructure. Economically, it commands a significant premium price due to complex production methods and very limited supply, with markets focused on specialized applications in medicine, superconductors, and advanced military applications.

About Critical Metals Corp.

Critical Metals Corp (Nasdaq: CRML) is a leading mining development company focused on critical metals and minerals, and producing strategic products essential to electrification and next generation technologies for Europe and its western world partners. Its flagship Project, Tanbreez, is one of the world’s largest, rare earth deposits and is located in Southern Greenland. The deposit is expected to have access to key transportation outlets as the area features year-round direct shipping access via deep water fjords that lead directly to the North Atlantic Ocean.

Another key asset is the Wolfsberg Lithium Project located in Carinthia, 270 km south of Vienna, Austria. The Wolfsberg Lithium Project is the first fully permitted mine in Europe and is strategically located with access to established road and rail infrastructure and is expected to be the next major producer of key lithium products to support the European market. Wolfsberg is well positioned with offtake and downstream partners to become a unique and valuable asset in an expanding geostrategic critical metals portfolio.

With this strategic asset portfolio, Critical Metals Corp is positioned to become a reliable and sustainable supplier of critical minerals essential for defense applications, the clean energy transition, and next-generation technologies in the western world.

For more information, please visit https://www.criticalmetalscorp.com/.

Cautionary Note Regarding Forward Looking Statements

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements may include expectations of our business and the plans and objectives of management for future operations. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this news release, forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target,” “designed to” or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.

Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements for many reasons, including the factors discussed under the “Risk Factors” section in the Company’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission. These forward-looking statements are based on information available as of the date of this news release, and expectations, forecasts and assumptions as of that date, involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Critical Metals Corp.

Investor Relations: [email protected]
Media: [email protected]

IRVING, Texas, Nov. 21, 2025 (GLOBE NEWSWIRE) — XBP Global Holdings, Inc. (“XBP Global” or “the Company”) (NASDAQ: XBP),  a workflow automation leader that leverages decades of industry experience, global footprint, and agentic AI to rethink business process automation and digital transformation, announced that its European subsidiary, XBP Europe, has been awarded a digital transformation contract by Saarland State Administration Office.

This win marks a significant expansion of XBP Europe’s leadership in secure public-sector digitization and highlights XBP Global’s role in shaping next-generation digital infrastructure for government institutions across Europe. The engagement strengthens the customer’s long-term strategy of enabling digitally sovereign, compliant, and resilient administrative ecosystems as it will also include the delivery by XBP Europe of a government-grade digital chain of custody, enabling secure access, consistent data quality, and a scalable foundation for future automation and AI-enabled services.

“This is a strategic milestone that reinforces XBP Europe’s position as a trusted modernization partner for high-security public-sector environments,” said Vitalie Robu, President, XBP Europe. “Our TR-Resiscan ‘Very High’ certification, combined with our proprietary BoxOffice platform and XBP Logistics Manager, provides a compliant, audit-proof and transparent digital framework that meets the stringent requirements of German authorities. We are proud to support this state in advancing its digital transformation with responsibility, precision, and long-term value.”

Services are expected to begin in the first quarter of 2026 following a short mobilization phase, with the full transformation delivered within a structured and transparent project governance model jointly overseen by the authority and XBP Europe.

Forward-Looking Statements


This press release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. These statements include financial forecasts, projections, and other statements about future operations, financial position, business strategy, market opportunities, and trends. Forward-looking statements can often be identified by terms such as “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “plan,” “targets,” “projects,” “could,” “would,” “continue,” “forecast,” or similar expressions. This press release includes forward-looking non-GAAP financial measures, such as projected Adjusted EBITDA and Net Debt. Adjusted EBITDA is defined as net income excluding interest, taxes, depreciation, amortization, and certain non-recurring items, while Net Debt is total debt minus cash and cash equivalents. The Company cannot reconcile these measures to their most comparable GAAP metrics — net income and total debt — without unreasonable effort, due to challenges in forecasting future interest, taxes, depreciation, and non-recurring items. These measures are provided for informational purposes only and should not be considered substitutes for financial measures prepared in accordance with GAAP. All forward-looking statements are based on estimates, forecasts, and assumptions that are inherently uncertain and subject to risks and factors that could cause actual results to differ materially. These include, but are not limited to: (1) risks related to the acquisition, including the inability to realize anticipated benefits, disruptions to operations, and costs associated with the transaction; (2) legal proceedings; (3) failure to meet Nasdaq listing standards; (4) competition and market conditions; (5) economic, geopolitical, and regulatory changes; (6) challenges in retaining clients, employees, and suppliers; and (7) other risks detailed in XBP Europe’s filings with the SEC, including the “Risk Factors” section of its Annual Report on Form 10-K for 2025, filed on March 19, 2025, and the proxy statement for the 2025 annual meeting. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. XBP Global undertakes no obligation to update these statements, except as required by law. There is no assurance that XBP Global or its subsidiaries will achieve the results projected in these statements.

About XBP Global

XBP Global is a multinational technology and services company powering intelligent workflows for organizations worldwide. With a presence in 20 countries and approximately 11,000 professionals, XBP Global partners with over 2,500 clients, including many of the Fortune 100, to orchestrate mission-critical systems that enable hyper-automation.

Our proprietary platforms, agentic AI-driven automation, and deep domain expertise across industries and the public and private sectors enable our clients to entrust us with their most impactful digital transformations and workflows. By combining innovation with execution excellence, XBP Global helps businesses reimagine how they work, transact, and unlock value.

For more news, commentary, and industry perspectives, visit: https://www.xbpglobal.com/

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The information posted on XBP Global’s website and/or via its social media accounts may be deemed material to investors. Accordingly, investors, media and others interested in XBP Global should monitor XBP Global’s website and its social media accounts in addition to XBP Global’s press releases, SEC filings and public conference calls and webcasts.

Investor Relations: David Shamis, [email protected] | Media Queries: Srushti Rao, [email protected]