Plug Power ($PLUG) and Amazon ($AMZN) Sign Green Hydrogen Agreement Targeting 2040 Net-Zero Carbon

August 25, 2022 at 12:10 PM EDT

August 25, 2022 – TheNewswire - Plug Power (PLUG), a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, has signed a hydrogen supply deal with Amazon ($AMZN) to provide liquid green hydrogen starting in 2025. The deal is part of Amazon's commitment to decarbonize its operations and be net-zero carbon by 2040.

Plug Power says that the deal with Amazon marks a significant growth opportunity for the company and is expected to help reach its 2025 revenue goal of $3 billion. The deal also furthers Plug’s strategy to build an end-to-end green hydrogen ecosystem to provide integrated hydrogen solutions for global customers.

Andy Marsh, CEO of Plug Power stated: “Landing a green hydrogen supply deal with a customer like Amazon validates our multi-year investment and strategic expansion into green hydrogen. We are excited to expand our relationship with Amazon in exploring the use of other hydrogen applications, such as fuel-cell electric trucks and fuel-cell power generation stations that could provide electricity to Amazon buildings and the deployment of electrolyzers in fulfillment centers.”

The green hydrogen supply deal is a continuation of joint efforts between Amazon and Plug to expand the applications of green hydrogen beyond material handling. Since 2016, Plug has helped Amazon to deploy more than 15,000 fuel cells to replace batteries in forklifts across 70 distribution centers.

Shares of Plug Power trade on the NASDAQ under the ticker symbol PLUG. For more information visit www.greenstocknews.com.

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