Plug Power, a developer of electrolyzers and hydrogen fuel cell systems, said Feb. 21 it has finalized a contract to supply a major U.S. automobile manufacturer with hydrogen infrastructure and fuel cell solutions.
The entire 6-sq-mile manufacturing campus’ material handling fleet, including forklifts and tuggers, will be powered by Plug’s fuel cells. The onsite infrastructure will also include two liquid hydrogen storage tanks and more than 10 hydrogen dispensers, according to a news release. Utilizing such equipment enables the manufacturer to reduce greenhouse gas emissions.
“This new partnership further strengthens our track record of success in the automotive industry, marking a significant leap in promoting sustainability within the sector,” Plug CEO Andy Marsh said in a press release. “We are excited to elevate this facility with Plug’s state-of-the-art green hydrogen ecosystem, offering solutions that enhance operational efficiency while contributing to a more sustainable and environmentally responsible future.”
Plug said it plans to install the hydrogen infrastructure in 2024 at the facility, which is expected to be fully operational in first-quarter 2025.
Neither the automobile manufacturer, nor the facility’s location were disclosed.
Plug’s existing automobile manufacturer partnerships include BMW, Daimler, Honda, GM and Stellantis.
News of the finalized contract followed Plug’s startup of liquid hydrogen production facilities in Georgia and Tennessee.
Recommended Reading
CEO: Coterra ‘Deeply Curious’ on M&A Amid E&P Consolidation Wave
2024-02-26 - Coterra Energy has yet to get in on the large-scale M&A wave sweeping across the Lower 48—but CEO Tom Jorden said Coterra is keeping an eye on acquisition opportunities.
Permian E&P Midway Energy Partners Secures Backing from Post Oak
2024-02-09 - Midway Energy Partners will look to acquire and exploit opportunities in the Permian Basin with backing from Post Oak Energy Capital.
Matador Resources Announces Quarterly Cash Dividend
2024-04-18 - Matador Resources’ dividend is payable on June 7 to shareholders of record by May 17.
Granite Ridge Resources Declares Quarterly Dividend
2024-02-20 - Granite Ridge Resources’ dividend is payable March 15.
JMR Services, A-Plus P&A to Merge Companies
2024-03-05 - The combined organization will operate under JMR Services and aims to become the largest pure-play plug and abandonment company in the nation.