Will Plug Power Be Present In Your Portfolio In 2022?

To date, Plug Power, a New York-based company that supplies hydrogen fuel, is fluctuating at $20. The stock rose to $21.39, marking a 2% increase. Plug Power is soliciting funds to fund an ambitious expansion strategy and forming strategic alliances with major industry players. The company currently delivers fuel only for forklifts, but there are plans to switch from small transport to large cargo vehicles to work at ports in the United States and Europe. Let’s look at how Plug expanded the list of its partners in Europe and Asia in 2021.

Plug Power

On June 3, together with Renault, the French automaker, they announced that their Hyvia joint venture for the production of hydrogen-fueled vans is under implementation. The partnership will begin its work at the end of this year. On November 30, Plug Power registered a joint venture with the Spanish energy company Acciona Energia under the name AccionaPlug. It will support all projects for the production of green hydrogen in Spain and Portugal. At the end of the year, on December 15, it was announced the start of bus production in South Korea. Edison Motors will use Plug’s ProGen, a fuel cell system, in its electric buses. Buses will start moving in 2023.