Fuel Cell Trucks and Green Hydrogen Network Expansion Strategy
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Partnerships Enable Green Hydrogen Leadership
SK
On October 6th, 2021 Plug Power and SK E&S, part of South
Korea's SK Group, formed a joint venture designed to accelerate
the use of hydrogen as an alternative energy source in Asian
markets
This collaboration will provide hydrogen fuel cell systems,
hydrogen fueling stations, electrolyzers and green hydrogen to the
Korean and other Asian markets
The partnership included a $1.6B strategic investment from SK
Group into Plug Power
The partnership will leverage SK's leadership in chemicals,
petroleum and energy as well as Plug's leading hydrogen platform
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GROUPE
RENAULT
On June 3rd, 2021 Plug Power and Renault Group launched the
HYVIA JV
Plug Power and Renault Group's 50/50 JV Leading the Way to a
Complete Ecosystem of Fuel Cell Powered LCVs, Green Hydrogen
and Refueling Stations Across Europe
✓ 2021: beginning of commercialisation with pilot fleet deployments
30%: Targeting market share of fuel cell LCV market in Europe by
2030
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acciona
On February 16th, 2021, Plug Power and Acciona announced
plans to form a strategic partnership and joint venture
The partnership aims for 20% market share of green hydrogen
in Iberia by 2030, with total investment over €2 billion
With a 10GW+ renewable power portfolio, Acciona is also
Spain's largest 100% renewable power retailer
The partnership looks to leverage Acciona's strong relationships
in Iberia and Plug's leading hydrogen technology
✓ The partnership looks to accelerate the growth of the hydrogen
economy in the industrial, mobility and pipeline gas sectors
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JM Johnson Matthey
Inspiring science, enhancing life
On January 31, 2023 Plug Power and JM announced long-term strategic
partnership to strengthen Plug's supply chain and help meet growing demand
for fuel cells and electrolyzers
JM will become an important strategic supplier of MEA components,
providing a substantial portion of Plug's demand for catalysts, membranes,
and catalyst coated membranes (CCM)
JM brings security of supply of precious metals, and unique recycling
capabilities
Plug and JM will co-invest in a 5GW (scaling to 10GW over time) CCM
manufacturing facility in the United States with production targeted to begin in
2025
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Olin
On October 19, 2022 Plug Power and Olin launched a joint venture to begin
with the construction of a 15-ton-per-day hydrogen plant in St. Gabriel,
Louisiana
The JV, named Hidrogenii, will support reliability of supply and speed to
market for green hydrogen throughout North America, setting the foundation
for broader collaboration Plug and Olin
Plug will be the exclusive marketer of the JV's hydrogen and provide
logistical support for delivery, while Olin will provide reliable hydrogen supply
and operational expertise
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