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plug power

Fuel cell firm transformed by Amazon deal

Tue, 04/11/2017 - 10:06 -- Xuan Zhong
Fuel cell firm transformed by Amazon deal

In a move which may send shock waves through the traditional motive power lead acid market, Plug Power, the Latham, New York, fuel cell manufacturer, has signed a multi-year contract with internet retail giant Amazon that includes the opportunity for Amazon to buy up to 23% of Plug Power.

Amazon will begin using Plug Power’s fuel cells to power its industrial equipment, including forklifts, in 11 of Amazon's fulfillment centres this year.

 

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Fuel cell giant takes control of European JV

Tue, 08/11/2015 - 11:23 -- Paul Crompton
Fuel cell giant takes control of European JV

Fuel cell firm Plug Power has entered into a definitive agreement to take full control of a joint venture to develop, manufacture and market fuel cells in Europe.

Plug Power bought the remaining 80% of joint venture HyPulsion from Axane, SA, a subsidiary of Air Liquide SA, for $11.47 million in common stock, subject to certain post-closing adjustments.

Plug Power and Air Liquide founded HyPulsion in 2012 to bring fuel cells for forklift trucks to the European market.

The transaction is subject to certain customary closing conditions and is expected to close no later than August 2015.

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