Plug Power Inc PLUG shares are trading higher Wednesday after rallying 5.75% on Tuesday. The company announced the completion of its first electrolyzer installation at an Amazon.com Inc AMZN fulfillment center.
What To Know: Plug Power said it completed the installation and commissioning of a one-megawatt proton exchange membrane electrolyzer system at an Amazon fulfillment center in Colorado.
The system will be used to produce low-carbon hydrogen to fuel more than 225 hydrogen fuel cell-powered forklift trucks at the Amazon location. Plug noted that the one-megawatt system can support up to 400 hydrogen fuel cell-powered forklift trucks.
"In Amazon, we have a true partner that recognizes the essential role hydrogen plays in our collective energy future," said Andy Marsh, CEO of Plug Power.
"This project demonstrates Plug's ability to execute across the full hydrogen value chain, and shows how we can design and implement end-to-end solutions for our customers."
Plug and Amazon have deployed more than 17,000 fuel cells to replace batteries in forklifts in more than 80 fulfillment centers in North America to date. The system announced on Wednesday is the first electrolyzer system installed and in use at an Amazon site.
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PLUG Price Action: Plug Power shares were up 1.26% at $4.85 at the time of publication, according to Benzinga Pro.
Photo: courtesy of Plug Power.
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