Plug Power Charged Up About New Commercial Electric Vehicle Charging Solution
May 01 2023 - 9:00AM
Plug Power Inc. (NASDAQ: PLUG), a leading provider of turnkey
hydrogen solutions for the global green hydrogen economy, unveiled
a new high-power stationary fuel cell system for charging
commercial electric vehicle (EV) fleets.
Operators deploying commercial electric vehicles face many
obstacles, from grid power capacity restrictions to clean power
requirements to long waits for grid infrastructure upgrades and
installations. As many operators are delaying or forgoing EV
adoption due to these challenges, Plug provides operators with a
new solution: a clean hydrogen-powered fuel cell system that cost
effectively charges EV fleets, getting zero-emission EV vehicles
deployed to meet fleet operator’s sustainability and operational
goals
"As EV adoption increases dramatically over the next few years
and electricity demand strains the grid, our new high-power fuel
cell system will be a game changer for the EV industry,” said Jose
Luis Crespo, General Manager of Applications and Global Accounts
for Plug. “Customers are approaching Plug for hydrogen power
generation options, and we expect this offering to be one of the
largest applications for stationary use this year.”
Plug has significant interest in this new solution from EV fleet
owners such as delivery van fleets, rental car companies with
battery EVs, and telecom providers with fleets of maintenance
vehicles, as well as public charging networks and EV charger
manufacturers.
Plug’s standard 18,000-gallon liquid hydrogen tank combined with
its new megawatt-scale PEM fuel cell solution can provide over 60
megawatt hours (MWh) of instantaneous energy – enough to charge
more than 600 EVs.
To learn more about this latest offering, visit Plug from May
1-4, at the Advanced Clean Transportation (ACT) Expo in booth
#6611, where a 3D model of the fuel cell, hydrogen dispenser with
simulated refueling, and fuel cell-powered HYVIA delivery van will
be on display.
About PlugPlug is building an end-to-end green
hydrogen ecosystem, from production, storage and delivery to energy
generation, to help its customers meet their business goals and
decarbonize the economy. In creating the first commercially viable
market for hydrogen fuel cell technology, the company has deployed
more than 60,000 fuel cell systems and over 180 fueling stations,
more than anyone else in the world, and is the largest buyer of
liquid hydrogen. With plans to build and operate a green hydrogen
highway across North America and Europe, Plug is building a
state-of-the-art Gigafactory to produce electrolyzers and fuel
cells and multiple green hydrogen production plants that will yield
500 tons of liquid green hydrogen daily by 2025. Plug will deliver
its green hydrogen solutions directly to its customers and through
joint venture partners into multiple environments, including
material handling, e-mobility, power generation, and industrial
applications. For more information, visit www.plugpower.com.
Plug Safe Harbor Statement
This communication contains “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995 that involve significant risks and uncertainties
about Plug Power Inc. (“PLUG”), including but not limited to
statements about: the dramatic increase in EV adoption over the
next few years; anticipated interest in Plug’s new high-power fuel
cell system from EV fleet owners, as well as public charging
networks and EV charger manufacturers. Such statements are subject
to risks and uncertainties that could cause actual performance or
results to differ materially from those expressed in these
statements. For a further description of the risks and
uncertainties that could cause actual results to differ from those
expressed in these forward-looking statements, as well as risks
relating to the business of PLUG in general, see PLUG’s public
filings with the Securities and Exchange Commission (the “SEC”),
including the “Risk Factors” section of PLUG’s Annual Report on
Form 10-K for the year ended December 31, 2022 and any subsequent
filings with the SEC. Readers are cautioned not to place undue
reliance on these forward-looking statements. The forward-looking
statements are made as of the date hereof, and PLUG undertakes no
obligation to update such statements as a result of new
information.
MEDIA CONTACTCaitlin Coffee Allison+Partners
plugPR@allisonpr.com
Plug Power (NASDAQ:PLUG)
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