Plug Power (PLUG) stock is soaring more than 20% in pre-market trading on Tuesday, continuing its upward momentum following a significant 25.9% surge on Monday. The hydrogen fuel cell company's shares have been boosted by two major developments: a new multi-billion dollar deal in Uzbekistan and a substantial insider purchase by the company's CFO.

The primary catalyst for the stock's surge is the announcement of a significant expansion of Plug Power's partnership with Allied Green Ammonia (AGA). The company signed a deal for a new 2 gigawatt (GW) electrolyzer project in Uzbekistan, which is part of a larger $5.5 billion green chemical production facility. This project, backed by the Uzbekistan government, aims to produce sustainable aviation fuel, green urea, and green diesel, reinforcing Plug Power's position as a key player in large-scale decarbonization projects.

Adding to the positive sentiment, Plug Power's Chief Financial Officer, Paul Middleton, demonstrated confidence in the company's future by purchasing 650,000 shares of common stock at an average price of $1.0339 per share. This significant insider buy, following a previous purchase of 350,000 shares in May, signals strong conviction in the company's long-term value and growth prospects. Middleton stated, "This additional investment reflects my strong conviction in Plug's strategy and long-term value creation. As we execute and gain market traction, I continue to see meaningful upside and believe Plug remains one of the most compelling growth opportunities in the energy sector."