Plug Power Inc (NASDAQ:PLUG), a leading provider of energy solutions that can alter the way the world moves, and Hygear, a supplier of cost-effective industrial gases, announced today that they are forming a partnership. The partnership intends to supply HyGear’s hydrogen generation technology to Plug Power fuel cell clients worldwide. The first supplies are scheduled to be installed during the last quarter of 2016 at a new site to serve some of the Plug Power’s existing clients.
HyGear’s hydrogen technology known as Hy.GEN® is primarily based on small-scale reforming. It offers low-cost, on-site, flexible, and an efficient alternative to the conventional supply of hydrogen which includes electrolysis, large-volume liquid systems, and hydrogen supplied through road distribution. Hy.GEN® systems are believed to more efficient, reliable, and allow the clients flexibility regarding fuel generation and consumption. Also, these systems give the users an option to use biogas for a green hydrogen solution.
Additionally, the distributed generation of hydrogen satisfies the need to transport fuel on-site, and this enhances the sustainability of the GenKey solution provided by the Plug Power to its clients. Hydrogen as a source of energy is drawing attention globally as its effect on corporate sustainability is revealing itself today.
The partnership presents a growth opportunity for Plug Power and Hygear
Marinus van Driel, the chief executive officer for HyGear, says that partnering with Plug Power, which is renowned and great company is a great potential for HyGear’s expansion and global recognition. Also, Driel perceives it as a significant step towards a clean fuel transportation system and a more energy-efficient world.
Plug power has been emphasizing its plans regarding the expansion of its hydrogen offer. Partnering with HyGear can be perceived as part of Plug Power’s major objective of making hydrogen cost-friendly fuel. The HyGear’s well-known reformer solution will enable Plug Power to serve a more diverse set of clients including a broader base of tethered fleet vehicles and small material handling fleets.
Pug Power is known for coming up with elegant solutions regarding hydrogen storage, dispensing and handling. The partnership will enable Plug Power to elevate its GenFuel offerings by leveraging HyGear’s industry-leading solution. This will stimulate the expansion of Plug Power’s market today as well as future worldwide markets.