Plug Power Inc PLUG shares are trading higher by 1.5% at $29.29 after the company announced a collaboration agreement with BAE Systems PLC BAESY to provide hydrogen-powered electric buses.

Plug Power and BAE Systems say they will collaborate to supply zero-emissions powertrains to heavy-duty transit bus OEMs in North America integrating Plug Power's ProGen fuel cell engines into BAE Systems' smart electric drive systems, as well as provide hydrogen and refueling infrastructure to end-customers use points.

Plug Power provides hydrogen fuel cell turnkey solutions for the electric mobility and stationary power markets in North America and Europe.

The clean energy company focuses on proton exchange membrane fuel cell and fuel processing technologies, fuel cell and battery hybrid technologies and related hydrogen storage and dispensing infrastructure.