Plug Supplies Walmart with Green Hydrogen to Fuel Retailer’s Fleet of Material Handling Lift Trucks
19 Abril 2022 - 8:00AM
Plug Supplies Walmart with Green Hydrogen to Fuel Retailer’s Fleet
of Material Handling Lift Trucks
Plug Power Inc. (NASDAQ: PLUG), a leading provider of turnkey
hydrogen solutions for the global green hydrogen economy, today
announced an agreement with Walmart Inc. (NYSE: WMT) for an option
to deliver up to 20 tons per day of liquid green hydrogen to power
material handling lift trucks across Walmart distribution and
fulfillment centers in the U.S., marking an additional step the
retailer is taking to incorporate alternative zero-carbon energy
sources throughout Walmart’s supply chain. This is one of the first
green hydrogen supply contracts for Plug, validating the company’s
multi-year investment in its green hydrogen network.
“Walmart has been an early adopter of innovative
hydrogen and fuel cell technology for over a decade, and our
hydrogen-powered solutions offer a tool to enhance productivity
improvements for Walmart’s operations,” said Andy Marsh, CEO of
Plug. “Now our green hydrogen solutions will provide Walmart with
the ability to achieve significant carbon reduction. We are honored
to expand our relationship with Walmart and realize our shared
vision for a green hydrogen future.”
Green hydrogen is produced through the electrolysis
of water with electricity generated from zero-carbon sources and
only harmless oxygen is emitted during the process, making it a
clean, secure and affordable energy solution. Through Plug’s
investment in its vertically integrated green hydrogen ecosystem,
the company will deliver green hydrogen to Walmart facilities using
a fleet of liquid transport Plug has put into service using
capabilities gained from its recent acquisition of Applied Cryo
Technologies.
Walmart has worked with Plug Power to adopt and
expand hydrogen fuel cells throughout its facilities for over a
decade, beginning with a 50-fleet pilot in 2012 and expanding to a
fleet of 9,500 and growing. Now, the retailer is continuing to
decarbonize its operations by striving to incorporate the use of
green hydrogen throughout its facilities, in an effort to pursue
lift truck operations that are efficient, clean, quiet and most
importantly, more sustainable.
“Hydrogen is critical to helping us power a more
sustainable supply chain and Plug Power’s hydrogen solutions allow
us to continue making progress,” said Jeff Smith, Senior Director
of Supply Chain Maintenance Services. “Sourcing green hydrogen can
help bring Walmart closer to reaching our goal of zero emissions by
2040.”
Over the last several years, Plug has executed on a
vision for a network of green hydrogen production facilities across
the globe to meet the demand for decarbonization of the economy and
address the urgent challenge of climate change. The company is
targeting 70 TPD of green hydrogen production by end of 2022 and
remains on track for 500 TPD of production in North America by 2025
and 1,000 TPD on a global basis by 2028.
About Plug
Plug is building an end-to-end green hydrogen
ecosystem, from production, storage and delivery to energy
generation, to help its customers meet their business goals and
decarbonize the economy. In creating the first commercially viable
market for hydrogen fuel cell technology, the company has deployed
more than 50,000 fuel cell systems and over 165 fueling stations,
more than anyone else in the world, and is the largest buyer of
liquid hydrogen. With plans to build and operate a green hydrogen
highway across North America and Europe, Plug is building a
state-of-the-art Gigafactory to produce electrolyzers and fuel
cells and multiple green hydrogen production plants that will yield
500 tons of liquid green hydrogen daily by 2025. Plug will deliver
its green hydrogen solutions directly to its customers and through
joint venture partners into multiple environments, including
material handling, e-mobility, power generation, and industrial
applications. For more information, visit www.plugpower.com.
Plug Safe Harbor Statement
This communication contains “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995 that involve significant risks and uncertainties
about Plug Power Inc. (“PLUG”), including but not limited to
statements about: PLUG’s plans to build and operate a green
hydrogen highway across North America and Europe; the expected
daily hydrogen liquefaction production capacity, transport, scaling
and standardization, including the timing thereof; the likelihood
of cost-savings for customers, including Walmart, occurring with
the use of PLUG’s liquified hydrogen and related applications; the
potential of PLUG’s customers to reduce their carbon footprint;
PLUG’s ability to meet global demand for decarbonization; and
statements about the expected benefits of vertically integrating
liquefaction capabilities in house. Such statements are subject to
risks and uncertainties that could cause actual performance or
results to differ materially from those expressed in these
statements. For a further description of the risks and
uncertainties that could cause actual results to differ from those
expressed in these forward-looking statements, as well as risks
relating to the business of PLUG in general, see PLUG’s public
filings with the Securities and Exchange Commission (the “SEC”),
including the “Risk Factors” section of PLUG’s Annual Report on
Form 10-K for the year ended December 31, 2021 and any subsequent
filings with the SEC . Readers are cautioned not to place undue
reliance on these forward-looking statements. The forward-looking
statements are made as of the date hereof, and PLUG undertakes no
obligation to update such statements as a result of new
information.
MEDIA CONTACT:
Caitlin Coffee Allison+Partners(312) 635-8204
plugPR@allisonpr.com
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