Plug Power (NASDAQ: PLUG) is trading higher after announcing its cooperative memorandum of understanding (MOU) with Zhangjiagang Furui Special Equipment Co., LTD (Furui), along with one of the “big three” Chinese industrial vehicle manufacturers. Per the agreement, the three companies will collaborate to build electric vehicles equipped with Plug Power-designed hydrogen fueling station solutions and hybrid fuel cell engine systems. The program is expected to deliver two industrial delivery truck prototypes by March of 2017, both powered by Plug Power’s ProGen fuel cell engines. The deal also calls for a short-term project for more than 500 vehicles and a fueling station network to be deployed in the Shanxi province over the following year. “China has made hydrogen and fuel cell vehicles a key component of the country’s Energy Revolution Program, which includes over $100 billion in investment and runs through 2030,” Plug CEO Andy Marsh stated in the news release.
To view the full press release, visit: http://nnw.fm/qX76Z
About Plug Power Inc.
The architects of modern hydrogen and fuel cell technology, Plug Power has revolutionized the industry with its simple GenKey solution, elements of which are designed to increase productivity, lower operating costs and reduce carbon footprints in a reliable, cost-effective way. Plug Power’s GenKey solution couples together all the necessary elements to power, fuel and serve a customer. Plug Power is the partner that customers trust to take their businesses into the future. For more information visit www.plugpower.com
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