LATHAM, N.Y.— Plug Power Inc. (NASDAQ: PLUG), a leading provider of hydrogen engines and fueling solutions enabling e-mobility, has announced a new agreement with Spanish hydrogen production and distributor Compañía Logística de Hidrocarburos (CLH).
Through the agreement, CLH will develop hydrogen production assets and downstream markets in Spain, in the industrial, mobility and power production/storage sectors for distribution to Plug Power customers throughout Europe.
The CLH Group is a leading international company in the transport and storage fuel products in Europe. Through zero-emission hydrogen fuel cell system applications commercialized by Plug Power, including industrial material handling, on-road commercial fleet vehicles and port applications (air, marine, and rail) where CLH has a strong presence, both partners expect to impact the growth of the renewable hydrogen market in Spain and Europe. The agreement provides an opportunity for both companies to identify opportunities and customers in the space.
“Finding and accelerating adoption opportunities in the Spanish material handling market is pivotal to the greater success of adopting clean energy mobility solutions,” said Andy Marsh, CEO of Plug Power. “Like Plug Power, CLH shares a value to sustainability, safety, and collaboration. Our partnership is already providing fruitful work and we look forward to finding areas of collaboration in the future.”
Already a leader in the United States in fuel cell deployment and hydrogen dispensing, Plug Power’s European business is expected to grow by more than 60% per year for the next five years. Plug Power customers are currently the largest users of liquid hydrogen in the United States – and soon enough, the world. The Company continues to invest in hydrogen supply and generation methods to support current and expected growth.
The CLH Group is the leading company engaged in the transport and storage of oil products in the Spanish market and the second-largest logistics operator in Europe in terms of the extension of its pipeline network and storage capacity. In Spain, it has a pipeline network over 4,000 kilometers in length and 39 storage facilities with capacity for 8 million cubic meters, as well as being present at the main Spanish airports. At the international level, the company is developing an ambitious expansion plan and conducts its business in the UK, Oman, Ireland, Panama, and Ecuador.
CLH has an international presence in logistics, fuel storage and delivery in markets including motor, aviation, and marine. Together, Plug Power and CLH intended to explore other potential areas of collaboration related to the development of hydrogen solutions for airports, goods transportation and delivery networks – markets where high-asset utilization is important, and the value proposition of fuel cells makes tremendous sense.
About Plug Power Inc.
The architect of modern hydrogen and fuel cell technology, Plug Power is the innovator that has taken hydrogen and fuel cell technology from concept to commercialization. Plug Power has revolutionized the material handling industry with its full-service GenKey solution, which is designed to increase productivity, lower operating costs and reduce carbon footprints in a reliable, cost-effective way. The Company’s GenKey solution couples together all the necessary elements to power, fuel and serve a customer. With proven hydrogen and fuel cell products, Plug Power replaces lead-acid batteries to power electric industrial vehicles, such as the lift trucks customers use in their distribution centers.
Extending its reach into the on-road electric vehicle market, Plug Power’s ProGen platform of modular fuel cell engines empowers OEMs and system integrators to rapidly adopt hydrogen fuel cell technology. ProGen engines are proven today, with thousands in service, supporting some of the most rugged operations in the world. Plug Power is the partner that customers trust to take their businesses into the future. Learn more at http://www.plugpower.com.
CLH Press Release Follows Below
CLH and Plug Power have signed an agreement to promote the use of hydrogen as a zero-emissions energy solution
- The agreement aims to expand the use of hydrogen in diverse sectors and applications in which this technology could be a more efficient zero-emission solution, especially for powering forklifts and other equipment operated at ports and airports.
CLH and the US company Plug Power have signed a collaboration agreement to extend the use of hydrogen in Spain through the design, implementation and operation of energy solutions based on this technology. This alliance will make it possible to offer comprehensive solutions to customers, such as retrofitting existing equipment to use hydrogen, selling new equipment, offering a steady supply of hydrogen and building and maintaining the required infrastructures. Therefore, the proposal offered to customers will be Hydrogen as a Service.
Under this agreement, the two companies will cooperate on the development of hydrogen-based energy solutions for diverse sectors and activities, including handling cargo, transporting goods, and other areas in which hydrogen-based solutions may afford advantages over the alternatives. In this regard, one area of particular interest is its use in powering forklifts and other equipment operated at ports and airports.
By using hydrogen as a fuel, no harmful emissions are released into the atmosphere because only steam is given off. In addition to generating no contaminating emissions, the use of hydrogen has other advantages such as the fact that it is completely silent when operating and refuelling is more convenient and faster, which makes steady operation possible. Hydrogen-based logistics and industrial energy solutions also pose an advantage in that they take up less space and eliminate the need for high power electrical connections. And, over their full lifecycle, they are often more economical than other alternative solutions.
CLH will guarantee a constant hydrogen supply, backed by its experience and knowledge in the design, construction, maintenance and operation of transport and storage networks, in addition to its capacity to design and implement energy solutions and offer services to industrial customers.
Plug Power is the global leader in the design and marketing of hydrogen fuel cell systems, with 28,000 fuel cells distributed on the international market and more than 270 million hours of operation in mobility applications.
The CLH Group is the leading company engaged in the transport and storage of oil products in the Spanish market and the second largest logistics operator in Europe in terms of the extension of its pipeline network and storage capacity.
In Spain, it has a pipeline network over 4,000 kilometres in length and 39 storage facilities with capacity for 8 million cubic metres, as well as being present at the main Spanish airports.
At the international level, the company is developing an ambitious expansion plan and conducts its business in the UK, Oman, Ireland, Panama and Ecuador.
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