![]() ![]() On Thursday, the company unveiled a prototype for its fuel cell-powered van, HyVia, developed in partnership with the Renault Group. In the absence of large-scale deployment, Plug Power’s technology has largely been limited to use in vehicles. “As this technology becomes more and more mature, just like solar and wind, you're going to see the cost of capital for these big projects come down.” “We found that every time you double the number of units in the field, costs come down 25%, and we’re looking to deploy over 40 gigawatts by 2030,” Marsh said. Electrolyzers, which split hydrogen from water, would also need to be deployed on a larger scale to bring prices down. Marsh said renewable electricity costs would need to be in the range of three cents a kilowatt hour, in order for hydrogen to be competitive with natural gas. But the scale and cost of the fuel has slowed adoption. Green hydrogen is particularly promising, because it is produced with renewable energy like solar and wind. Hydrogen is expected to play a key role in the transition to a zero-carbon future, as countries scramble to cut harmful greenhouse gas emissions to stave off the worst effects of climate change. “The cycle for airplanes is not overnight, but Universal Hydrogen has come up with a really cool conversion kit that will really start the journey to make hydrogen aircraft, so we're really excited.” A key ingredient for a zero-carbon world “We’re converting de Havilland aircraft to four regional planes for hydrogen. Marsh said that is on track to conduct test flights by the end of next year. Plug Power is already working with Los Angeles-based startup Universal Hydrogen to convert regional jets to clean energy. (Photo by James Leynse/Corbis via Getty Images) The Company is now leveraging its know-how, modular product architecture and foundational customers to rapidly expand into other key markets including zero-emission on-road vehicles, robotics, and data centers.Andy Marsh, President and CEO of Plug Power, a New York based company that manufactures residential and commercial fuel cells, speaking at a shareholders meeting in New York. Plug’s vertically integrated GenKey solution ties together all critical elements to power, fuel, and provide service to customers such as Amazon, BMW, The Southern Company, Carrefour, and Walmart. Plug delivers a significant value proposition to end-customers, including meaningful environmental benefits, efficiency gains, fast fueling, and lower operational costs. As a result, the Company has deployed over 50,000 fuel cell systems for e-mobility, more than anyone else in the world, and has become the largest buyer of liquid hydrogen, having built and operated a hydrogen highway across North America. Plug created the first commercially viable market for hydrogen fuel cell (HFC) technology. The Company’s innovative technology powers electric motors with hydrogen fuel cells amid an ongoing paradigm shift in the power, energy, and transportation industries to address climate change and energy security, while providing efficiency gains and meeting sustainability goals. Plug is building the hydrogen economy as the leading provider of comprehensive hydrogen fuel cell (HFC) turnkey solutions. A playback of the call will be available online for a period following the event. Ī conference call will be held today, November 8, 2022.īoth the shareholder letter and webcast can be accessed at on the company’s home and investor relations pages. The quarterly shareholder letter has been posted at. (NASDAQ: PLUG), a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, has announced today its 2022 third quarter results. 08, 2022 (GLOBE NEWSWIRE) - Plug Power Inc.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |