Plug Power expands to Europe

Project manager Robert Zalinski presented products and site
Project manager Robert Zalinski presented products and site

The US corporation Plug Power opened its European headquarters in Duisburg, Nordrhein-Westfalen (NRW) on March 18th, 2022. The new production site of Plug Europe lies at the center of Duisburger Hafen, the world’s largest inland port. CEO Andy Marsh had really wanted to make a special trip from the United States to make the opening speech, but he was unable to because of a corona infection. Chris Suriano stepped in for him. Suriano declared, “Our local presence is very important in our key markets.” He smugly added, “We have only just begun.” 

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Plug Power Goes to China

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Share price development as of Dec. 20, 2016

Plug Power CEO Andy Marsh is looking to establish framework agreements with Chinese companies, as he believes the country to be a very promising market. China is said to have already invested more than USD 100 billion in fuel cell technology over the years, as it has recognized that there is large potential to tap (see Ballard). Talks with Chinese-based automotive suppliers are ongoing. In the US, Plug Power hopes that there will be other tax incentives for fuel cell vehicles. The investment tax credits have certainly been a factor in getting orders for forklift truck retrofits. Donald Trump, however, is said to be opposed to these types of incentives as much as in the wind and solar industry.

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Plug Power takes over HyPulsion

The HyPulsion joint venture has now been owned in full by Plug Power since August 2015. As announced by the American (USA) company on July 27th 2015, it has acquired all of the shares in its former partner Axane, a subsidiary of the gases company Air Liquide. The New York-based manufacturer of fuel cells paid … Read more