Plug Power got big news Wednesday that sent Plug shares rocketing higher. South Korean firm SK Holdings is investing $1.5 billion into Plug to speed the adoption of hydrogen technology in Asia. Subsidiary of SK Group (ticker: 034730.Korea) will get about 51.4 million shares of stock at $29.29, representing almost 10% of the company, for its investment. Investors are thrilled with the news. Plug (PLUG) stock is above $44 a share, after gaining roughly 28% in early trading. Shares closed Wednesday at $35. “SK Group has an established strategy for building out the hydrogen economy in South Korea and beyond,” said Plug CEO Andy Marsh in the company’s news release. “The current relationship with SK Group offers immediate strategic benefits to Plug Power to accelerate its expansion into Asian markets—and is intended to result in a formal joint venture by 2022.”