STLA - Plug Power Secures Contract With Major US Auto Firm: Here's What It Means For Investors | Benzinga
Plug Power Inc. (NASDAQ: PLUG), a leading provider of comprehensive hydrogen fuel cell (HFC) turnkey solutions, recently finalized an agreement with a major U.S. automobile manufacturer (not named in the press release) to supply hydrogen infrastructure and fuel cell solutions, which will support its material handling operations.
The six-square-mile manufacturing campus is entirely devoted to EVs and batteries, making it one of the largest automotive manufacturing facilities in the history of the U.S.
The entire material handling fleet at the manufacturing facility, which comprises forklifts and tuggers, will operate on Plug Power fuel cells. Alongside the fuel cell fleet, the deal also encompasses the provision of on-site hydrogen infrastructure, including two liquid hydrogen storage tanks and more than 10 hydrogen dispensers to prepare for the expansion of hydrogen applications.
Plug Power's hydrogen fuel cells are a viable substitute for any battery solution in electric forklifts. The incorporation of fuel cell solutions at this facility is expected to enhance productivity, improve operational efficiency, and ensure maximum fleet uptime while contributing to the reduction ...