Fuel cell manufacturer Plug Power has partnered with French hydrogen gas production company Air Liquide to expand its market presence in Europe. Plug Power has become a formidable force in the hydrogen industry, successfully commercializing hydrogen fuel cells in the U.S. Plug Power is poised to triple its market potential by extending its presence to Europe, where hydrogen is gaining traction with many countries in the region. The company may find particular success in Germany, where demand for alternative energy is extremely high.
Much of Plug Power’s success comes from distribution centers using fuel cells to power their fleets of fork lift trucks. In the U.S., there are approximately 1 million Plug Power fuel cells currently being used in forklifts from companies like Coca-Cola and Wal-Mart. Another 2 million units can be distributed throughout European distribution centers.
Plug Power is still working to make fuel cells more efficient and affordable. The new deal will likely not have a major impact on the revenue of the company, as the focus, for now, is mostly on getting fuel cells to the commercial market. As fuel cells become more advanced, and demand for hydrogen fuel becomes more prominent, Plug Power expects to see rampant growth in the market and hopes to be a leading force in the hydrogen industry. For now, however, the majority of the company’s revenue will be generated in the North American market.