January 15, 2021

Plug

Goal to Decarbonize the Logistics Ecosystem with Green Hydrogen Fuel

LATHAM, N.Y., Nov. 30, 2020 (GLOBE NEWSWIRE) — Plug Power Inc. (NASDAQ:PLUG), a leading provider of hydrogen engines and fueling solutions enabling e-mobility, are collaborating to bring a commercial suite of ProGen-powered Gaussin transportation vehicles to market in 2021 as a solution to decarbonize the logistics ecosystem. Integrated solutions, ranging from ProGen-powered Gaussin terminal tractors to automated guided vehicles, will use green hydrogen produced by Plug Power’s best of class PEM electrolyzer solution.

Gaussin is a pioneer in hydrogen-powered heavy duty vehicles and brings over two decades of experience deploying emission-free vehicles across Europe, Middle East and Asia for logistic centers, seaports and airports. Through the integration with Plug Power’s industry-leading ProGen hydrogen engines, Gaussin further positions itself as a key OEM in the emerging hydrogen economy. Plug Power and Gaussin will target new cargo markets, including logistic centers, seaports and airports in Europe, the United States, and globally beyond. The first vehicles are expected to be available commercially in early-2021.

Plug Power is the leading provider of hydrogen fuel cell engines and largest user of liquid hydrogen globally. The Company provides hydrogen and fuel cell solutions for e-mobility applications, providing a range of 30 to 125 kW fuel cells for heavy-duty fleet and on-road vehicle applications. Plug Power’s modular ProGen fuel cell engines range from 30kW to 125kW, and designed for OEMs like Gaussin to integrate into zero-emission vehicles. The company is executing on a strategy to accelerate its PEM electrolyzer business in the US and Europe, leveraging distribution channels and developing a multi-megawatt scalable network for green hydrogen production.

“Our partnerships with OEM leaders, like Gaussin, allow us to drive green hydrogen solutions in the United States, Europe and beyond,” said Andy Marsh, CEO for Plug Power. “We are working to integrate ProGen engines in cargo transportation and on-road vehicle applications with best-in-class partners to make the freight and logistics markets greener with our green hydrogen and sustainable energy solutions.”

“Gaussin values its partnership with Plug Power as we further penetrate the sustainable cargo transportation vehicle market,” said Christophe Gaussin, CEO for Gaussin. “Hydrogen is a critical global fuel solution, and Gaussin intended to be a leading solutions provider for the zero-emission vehicle space.”

The transportation sector is known as one of the largest fuel consumers of the global energy market. Hydrogen is an attractive fuel, specifically being promoted in Europe where diesel bans are mandated for large cities starting in 2024. As highlighted in the European Commission’s Hydrogen Industrial Strategy, hydrogen energy is “a pillar” to the European Union’s growth and global competitiveness. Hydrogen also takes a prominent role in the European Green Deal for making Europe the world’s first climate-neutral continent by 2050. According to McKinsey & Company, the global hydrogen economy could reach $2.5 trillion by 2050. Hydrogen is ideal for this industry as a clean, cost effective and energy-dense (3x gasoline or diesel) fuel.

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