Vistra agrees USD 3.25bn buyout of zero-carbon energy unit
Sep 19, 2024 11:01 CESTPlug Power Inc (NASDAQ:PLUG), the developer of an end-to-end green hydrogen ecosystem, said on Tuesday that it finalised a contract to transform the material handling operations of a major US carmaker through the addition of hydrogen infrastructure and fuel cell solutions.
The project will take place at a 6-sq-mile auto manufacturing complex dedicated to electric vehicles (EVs) and batteries. According to Plug, it is one of the largest such campuses in US history.
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The contract calls for Plug to transform the customer’s entire material handling fleet, including forklifts and tuggers, to run on fuel cells. In addition, it will install two liquid hydrogen storage tanks and over 10 hydrogen dispensers to prepare the site for the expansion of hydrogen applications.
The company said it will handle the installation and commissioning of the hydrogen infrastructure this year ahead of the facility’s launch, which is scheduled to take place by the first quarter of 2025.
Vistra agrees USD 3.25bn buyout of zero-carbon energy unit
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