Study of PLUG
01/13/2021 – a huge potential for market leader PLUG: the global hydrogen economy could reach $2.5 trillion by 2050
PLUG POWER AND GAUSSIN COLLABORATE ON HYDROGEN-POWERED TRANSPORTATION VEHICLES
LATHAM, N.Y., Nov. 30, 2020 (GLOBE NEWSWIRE) — Plug Power Inc. (NASDAQ:PLUG), a leading provider of hydrogen engines and fueling solutions enabling e-mobility, are collaborating to bring a commercial suite of ProGen-powered Gaussin transportation vehicles to market in 2021 as a solution to decarbonize the logistics ecosystem. Integrated solutions, ranging from ProGen-powered Gaussin terminal tractors to automated guided vehicles, will use green hydrogen produced by Plug Power’s best of class PEM electrolyzer solution.
The transportation sector is known as one of the largest fuel consumers of the global energy market. Hydrogen is an attractive fuel, specifically being promoted in Europe where diesel bans are mandated for large cities starting in 2024. As highlighted in the European Commission’s Hydrogen Industrial Strategy, hydrogen energy is “a pillar” to the European Union’s growth and global competitiveness. Hydrogen also takes a prominent role in the European Green Deal for making Europe the world’s first climate-neutral continent by 2050. According to McKinsey & Company, the global hydrogen economy could reach $2.5 trillion by 2050. Hydrogen is ideal for this industry as a clean, cost effective and energy-dense (3x gasoline or diesel) fuel.
About Plug Power
Plug Power is building the hydrogen economy as the leading provider of comprehensive hydrogen fuel cell (HFC) turnkey solutions. The Company’s innovative technology powers electric motors with hydrogen fuel cells amid an ongoing paradigm shift in the power, energy, and transportation industries to address climate change and energy security, while providing efficiency gains and meeting sustainability goals.
Plug Power created the first commercially viable market for hydrogen fuel cell (HFC) technology. As a result, the Company has deployed over 38,000 fuel cell systems for e-mobility, more than anyone else in the world, and has become the largest buyer of liquid hydrogen, having built and operated a hydrogen highway across North America. Plug Power delivers a significant value proposition to end-customers, including meaningful environmental benefits, efficiency gains, fast fueling, and lower operational costs.
Plug Power’s vertically-integrated GenKey solution ties together all critical elements to power, fuel, and provide service to customers such as Amazon, BMW, The Southern Company, Carrefour, and Walmart. The Company is now leveraging its know-how, modular product architecture and foundational customers to rapidly expand into other key markets including zero-emission on-road vehicles, robotics, and data centers.
