Plug Power Expands Hydrogen Supply Chain Partner Network with United Hydrogen
September 18 2019 - 7:05AM
Plug Power Inc. (NASDAQ: PLUG), a leading provider of hydrogen
engines and fueling solutions enabling e-mobility, and United
Hydrogen an innovative hydrogen fuel supplier have announced a new
hydrogen supply agreement. The alliance was formalized earlier this
month with the signing of a three-year reserved product supply
agreement between the two companies and will allow Plug Power to
maintain competitive pricing for its current customer base, while
also provisioning for future growth. Under the agreement, United
Hydrogen will supplement Plug Power’s hydrogen delivery operation
with a dedicated supply of liquid hydrogen—facilitating a
diversified supply chain and bolstering Plug Power’s ability to
seamlessly meet customer demand while increasing the amount of
‘green’ hydrogen supplied to its network.
“Hydrogen is, and should be, a competitive market,” said Andy
Marsh, CEO, Plug Power, “and it’s crucial that we continually take
steps to strengthen our supply chain and identify new, exciting
partners in our efforts to grow global hydrogen and fuel cell
markets. United Hydrogen is one of many such partners that show us
what these relationships should look like. They’re far more than
just a supplier; they are a true supply chain partner in every
sense. We’re already working with the United Hydrogen team in
conjunction with a handful of Plug Power customers, and we couldn’t
be happier with the results.”
United Hydrogen currently provides liquid hydrogen to industrial
customers throughout the U.S. and supplies fuel to the developing
fuel cell electric vehicle market in California. United Hydrogen
also delivers gaseous hydrogen to customers throughout the
Southeast and Midwest U.S., in addition to its liquid hydrogen
business.
Founded in 2005, United Hydrogen is a privately held,
vertically-integrated supplier of hydrogen to the automotive fuel
cell and industrial markets. The company opened its gaseous
hydrogen facility in 2008 and its first liquid hydrogen production
plant earlier this year in Charleston, Tennessee. United Hydrogen
plans to construct four additional production facilities and 20
hydrogen filling within the next 5 years. United Hydrogen’s
Charleston facility uses a low-carbon hydrogen production technique
that incorporates both electrolysis and a proprietary purification
process. The result is an environmentally-friendly product that far
exceeds industrial grade purity standards.
“We are very proud to be joining forces with an organization
like Plug Power,” said Brent Koski, COO, United Hydrogen. “Our
mission has always been to achieve broad participation in the
hydrogen economy through affordable, reliable production and
distribution of hydrogen. I believe Plug Power shares that mission,
and that they have already played a crucial role in helping to
establish a competitive and commercially-viable hydrogen market
that is poised for explosive growth in the years ahead.”
Plug Power is the leader in facilitating hydrogen fueling in the
U.S. The Company has built more than 80 fueling stations to support
more than 20 million fills into e-mobility applications. Plug Power
customers are the largest users of liquid hydrogen in the country.
The Company continues to invest in hydrogen supply and generation
methods to support current and expected growth. About Plug
Power Inc. The
architect of modern hydrogen and fuel cell technology, Plug Power
is the innovator that has taken hydrogen and fuel cell technology
from concept to commercialization. Plug Power has revolutionized
the material handling industry with its full-service GenKey
solution, which is designed to increase productivity, lower
operating costs and reduce carbon footprints in a reliable,
cost-effective way. The Company’s GenKey solution couples together
all the necessary elements to power, fuel and serve a customer.
With proven hydrogen and fuel cell products, Plug Power replaces
lead acid batteries to power electric industrial vehicles, such as
the lift trucks customers use in their distribution centers.
Extending its reach into the on-road electric vehicle market, Plug
Power’s ProGen platform of modular fuel cell engines empowers OEMs
and system integrators to rapidly adopt hydrogen fuel cell
technology. ProGen engines are proven today, with thousands in
service, supporting some of the most rugged operations in the
world. Plug Power is the partner that customers trust to take their
businesses into the future. Learn more at www.plugpower.com.
About United HydrogenUnited Hydrogen Group
(UHG) is an imaginative hydrogen production and distribution
business based in the United States. UHG currently distributes
gaseous and liquid hydrogen to its industrial customers throughout
the eastern US. United Hydrogen owned and operated the
hydrogen refueling station at JFK in New York and has plans to
construct an additional 20 stations by 2025. UHG has ambitious
plans to introduce new technologies to the hydrogen distribution
market and open new frontiers for hydrogen refueling infrastructure
for fuel cell electric vehicles.
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and other risks faced by PLUG, see disclosures contained in PLUG's
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of PLUG's Annual Report on Form 10-K for the year ended December
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SOURCE: PLUG POWER
Media Contact Kate GundryPluck
617.797.5174plugpower@pluckpr.com
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