Written by Cláudio Afonso | LinkedIn | X
Plug, the partner of the French automaker Renault, announced on Wednesday that has reached 13 hydrogen refueling stations (HRS) over the last two years across 5 European countries.
Globally, it has over 250 stations with the largest expected to consume nearly half a ton of hydrogen per day.
The company has recently secured an order for 25 megawatts (MW) of proton exchange membrane (PEM) electrolyzer systems from a European customer. Plug’s European material handling customer base includes Amazon, Stef, ASDA, Lidl.
Over the last two years, the company has decreased the time-to-market for a refueling station from 18 months to 6 months, as stated by the chief executive Andy Marsh.
Currently, all systems are in the commissioning phase, with many already operational while the remaining systems are expected to be fully operational “by this summer,” the company stated.
The stations will also support Plug’s own facilities and HYVIA locations—a joint venture between Plug and the French automaker Renault aiming on building hydrogen fuel cell electric commercial vehicles.
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At its plant in Georgia, Plug has a hydrogen production capacity of 15 ton per day which allows the capability to provide proven PEM electrolyzer technology for the customer.
Last month, Plug Power has filed a prospectus supplement relating to the potential resale of up to 3,461,371 shares of its common stock. The warrants were issued as earn-out consideration under the Agreement and Plan of Merger, dated June 22, 2020.
In early May, shares of the hydrogen fuel cell manufacturer more than doubled to $5 per share as the company announced that received a conditional commitment for a $1.66 billion loan guarantee from the Department of Energy (DOE).
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Written by Cláudio Afonso | LinkedIn | X
