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Plug Power Inks Supply Deal With Certarus -Breaking

by Mike Robinson

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© Reuters

Sam Boughedda

Investing.com — The Plug Power Inc (NASDAQ:) told investors Tuesday it has signed a long-term supply and logistics agreement with Certarus, a compressed transporter. 

Both companies aim to increase the North America’s green hydrogen supply. Plug Power plans to supply Certarus with up to 10 tonnes of green hydrogen per day through its hydrogen production network. Initial deliveries are expected during the first quarter 2022.

Certarus will transport the hydrogen using its fleet of compressed gas delivery trucks from production to Plug Power and Certarus end users. These include mining, power generation and natural gas middlestream and industrial energy companies. Additionally, they will work as partners in the provision of equipment to Plug Power.

They explained to us that they want hydrogen fuel to be more accessible to businesses looking to cut carbon emissions or achieve ESG goals.

Andy Marsh, Plug Power CEO stated that the goal was to deliver green hydrogen at 500 tonnes per day by 2025 and 1000 tons by 2028. Partnering with Certarus will be a positive step in developing the green hydrogen industry to support large energy sectors. It will also give Plug Power flexibility and scaling to improve its delivery capabilities.

Plug’s shares have fallen over the past three days, and are currently down 5%. The company announced that it would not be making any announcement to boost their share prices.

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