Plug Power has signed an agreement to supply hydrogen infrastructure and fuel cell solutions to “a major U.S. automaker.”
These solutions support electric vehicles, batteries, and material handling operations at a manufacturing campus dedicated to the “largest” automotive manufacturing site in U.S. history.
The unnamed company’s entire material handling fleet, including forklifts and tug trains, will be powered by Plug’s fuel cells, while on-site hydrogen infrastructure (two liquid hydrogen storage tanks and more than 10 hydrogen dispensers) will also be supplied. It’s planned.
Plug plans to install and commission hydrogen infrastructure this year in preparation for facility commissioning in the first quarter of 2025. Production will be rolled out in planned stages to ensure a smooth ramp up to full production.
Plug Power CEO Andy Marsh asserted that the partnership strengthens the company’s track record of success in the automotive industry. Plug has had success with BMW, Daimler, Honda, General Motors and Stellantis.
read more: Plug Power provides customers with portable liquid hydrogen refueling systems
“We are pleased to enhance this facility with Plug’s state-of-the-art green hydrogen ecosystem, providing solutions that improve operational efficiency while contributing to a more sustainable and environmentally responsible future. ” added the CEO.
Plug Power recently acknowledged layoffs as part of its plan to reduce annual operating costs by more than $75 million.
read more:Plug Power confirms job cuts as part of $75 million in cost savings
Earlier, the company announced plans to sell up to $1 billion in common stock as losses widened throughout 2023.
Proceeds from the offering will be used for working capital, capital expenditures and general corporate purposes.
read more: Plug Power plans to sell $1 billion of common stock in capital raising activity
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