Plug Power Inc (NASDAQ:PLUG) has recently been named to the internationally respected Hydrogen Council as a very supporting committee member. The Hydrogen Council covers several important programs that determine the role of the hydrogen in the provision of the energy mix.
The council currently has sixteen members that include Air Liquide, BMW Group, Toyota, Daimler, Audi, and Royal Dutch Shell among others. Plug Power was given a special seat at high table at the council. The company has deployed over 16,000 fuel cells to power the electric lift trucks and developed over 52 hydrogen stations across the US and Europe. The hydrogen stations support over 7.9 million refuelings, which comprise of 4.9 million kilograms of dispensed hydrogen.
As the world gives priority to electrification, Plug Power has acquired the latest electric vehicle markets including the ground support equipment and the electric vans used for delivery. The new developments help promote the innovation of the hydrogen fueling and increase the rate of commercialization of the hydrogen-fueled products.
The company’s most end-user hydrogen fueling stations are usually deployed in the material handling industry. As a result, the fuel cell-powered trucks utilizes the hydrogen as an alternative source of energy which increases productivity, reduces the emission of greenhouse gases, and cuts down the operational costs.
The global Council intends to expand its activities for the rest of the inaugural year, that were enhanced with the Investor Day held recently in September 18th in the New York City and the Sustainable Investment Forum event during the New York Week. The events were intended to engage all the investors from various industries and the key financial players across several hydrogen markets, and presentations that touch on the implementation of the hydrogen deployment solutions at a large scale.
With the increasing demand for proven modern hydrogen and fuel cell products, Plug Power is gradually replacing the lead acid batteries with the power electric industrial vehicles including the lift trucks among others that are used in the end user distribution centers.