Hydrogen fuel cell systems developer Plug Power Inc. (PLUG) recently announced that it has entered into a long-term supply and logistics agreement with compressed natural gas transporter Certarus Ltd. The partnership is aimed at expanding the adoption of green hydrogen fuel. Following the news, shares of the company declined 5.2% to close at $30.50 on Tuesday, but this drop can be attributed to wider market concerns. Strategic Impact With this partnership, Plug Power will supply 10 tons of green hydrogen per day to Certarus. Subsequently, Certarus’ specialised transportation fleet will safely move the hydrogen directly from production locations to end users.
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Plug Power (NASDAQ:PLUG)
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