Plug Power, Engie partner to expand hydrogen use in logistics
US fuel cell technology company Plug Power (NASDAQ: PLUG) has teamed up with French energy company Engie (EPA:ENGI) to "deliver cost effective hydrogen energy solutions" across the globe.
The two companies will work together to identify mutually beneficial markets and customers, packaging Plug Power’s fuel cell technology with Engie’s hydrogen infrastructure, renewable energy and service programmes, Plug Power said in a news release on Monday.
The partnership will mainly seek to expand hydrogen use in the logistics sector, especially within distribution centres, ports and airports.
The primary business of Power Plug is replacing lead acid batteries with hydrogen and fuel cell technology to power electric industrial vehicles, such as the lift trucks used in distribution centres. The company has recently ventured into hydrogen solutions for the on-road electric vehicle market, too.
Engie, on the other hand, aims to operate across the entire value chain of renewable hydrogen, from carbon-free power generation to the three key end uses: mobility, industry and energy storage.