Plug Power poised for international expansion
Andy Marsh, CEO of the US fuel cell producer, wants to continue expansion through more partnerships and acquisitions during 2021
After a stellar 2020 for Plug Power—which saw a massive growth in its stock valuation—the New York-based hydrogen fuel cell firm is looking to expand globally through developing partnerships or acquisitions. Plug Power last year raised almost $1bn of new capital from equity markets, its biggest ever round of fundraising, during a transformative year. It extended its relationships with both Amazon and Walmart’s e-commerce networks. And it acquired US hydrogen producer United Hydrogen Group and electrolyser developer Giner ELX, allowing the company to start manufacturing electrolysers to complement its fuel cell offering. The company has followed this up with a strong start to 2021. On 7 Janu
Also in this section
19 April 2024
UAE renewables developer weighs opportunities to join green hydrogen projects in US and Canada, Andreas Bieringer, director of green hydrogen business development and commercial, tells Hydrogen Economist
17 April 2024
Building green hydrogen ports and lower production costs key to becoming global exporter
16 April 2024
European Commission to provide list of approved certifiers in a move that is expected to help unlock investment in the sector
9 April 2024
Higher country-level risk and green hydrogen project execution risks are driving up financing costs, according to the Hydrogen Council and McKinsey