Just when you might have thought that the fuel cell stocks had been placed on life support, a new contract announcement has jolted the sector back to life. Plug Power Inc. (NASDAQ: PLUG) announced Thursday morning that the company had signed a multiyear contract to provide its fuel cell and hydrogen services to “a major North American telecommunications provider.”

The rising tide is indeed lifting all boats in the sector. Plug Power’s shares were up more than 13% in the premarket, FuelCell Energy Inc. (NASDAQ: FCEL) shares were up nearly 5% and Ballard Power Systems Inc. (NASDAQ: BLDP) had popped more than 6.5%.

A spike in early March sent these stocks soaring. Plug Power, for example, traded at more than $11 a share, a three-year high. FuelCell rose to near $5 a share, another three-year high. Ballard traded above $8 a share, a six-year high. The driver for the boost was Plug Power’s contract to supply more than 1,700 fuel cell-powered forklifts to Wal-Mart Stores Inc. (NYSE: WMT).

The contract Plug Power announced Thursday is valued at $20 million and will provide integrated backup power for the telecom company’s wireless network. The company said it expects to support 500 new sites utilizing Plug Power’s ReliOn integrated solution, which includes fuel cell systems and bulk refillable hydrogen storage, DC plant rectifiers and distribution, battery technology and space for radio equipment, in an environmentally-hardened outdoor cabinet.

Plug Power stock traded in the premarket Thursday at $3.93, in a 52-week range of $1.43 to $11.72. The consensus price target on the stock is about $6.20.

FuelCell Energy traded up 6%, at $1.77 in a 52-week range of $1.28 to $4.74. The stock’s price target is around $2.90.

Ballard Power traded more than 5.5% higher Thursday morning, at $2.23 in a 52-week range of $1.41 to $8.38. The price target is $3.70.

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