Plug Power and Alpine F1 Team sign a partnership agreement
Plug Power Inc. (NASDAQ: PLUG), a leading provider of turnkey hydrogen solutions building the global green hydrogen economy, and Alpine F1 Team are delighted to announce a new partnership in Formula One. The Plug Power logos will be present on the Alpine F1 Team’s A521 cars and team racewear.
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The Alpine F1 collaboration will be a complement to the Joint Venture under preparation for Renault Group and Plug Power to explore opportunities for hydrogen solutions in on-road vehicles as part of its commitment to sustainable mobility. In January 2021, the Renault Group and Plug Power announced the signature of a memorandum of understanding to jointly develop the hydrogen powertrain for light commercial vehicles in Europe, targeting a 30% share of the market, in line with Groupe Renault CEO Luca de Meo’s strategic vision detailed in Renaulution in January.
Laurent Rossi, Chief Executive Officer, Alpine:
“We are delighted to partner with Plug Power across multiple activities, in motorsport and road cars, to explore different mobility solutions. Renault Group is committed to developing sustainable technology that will create minimal impact on the environment while being open to all road-users. Hydrogen fuel cells are an innovation that is well worth further investigation and Plug Power are the market leader. We look forward to working with them.”
Andy Marsh, Chief Executive Officer, Plug Power:
“The breadth of opportunities for hydrogen fuel cell-powered hybrid electric vehicles is endless. Plug Power is encouraged to work on filling the need for sustainable solutions for activities in motorsport, on-road vehicles, and beyond.”
We are a global company engaged in the development of green hydrogen and fuel cell systems dedicated to electric vehicles. It has extended its reach into the on-road electric vehicle market, with its ProGen platform of modular fuel cell engines empowering OEMs and system integrators to rapidly adopt hydrogen fuel cell technology. ProGen engines are proven today, with thousands in service, supporting some of the most rugged operations in the world.
About Plug Power
Plug Power is building the hydrogen economy as the leading provider of comprehensive hydrogen fuel cell turnkey solutions. The Company’s innovative technology powers electric motors with hydrogen fuel cells amid an ongoing paradigm shift in the power, energy, and transportation industries to address climate change and energy security, while meeting sustainability goals. The company created the first commercially viable market for hydrogen fuel cell technology.
As a result, the Company has deployed over 40,000 fuel cell systems for e-mobility, more than anyone else in the world, and has become the largest buyer of liquid hydrogen, having built and operated a hydrogen highway across North America. Plug Power delivers a significant value proposition to end-customers, including meaningful environmental benefits, efficiency gains, fast fueling, and lower operational costs.
Company’s vertically-integrated GenKey solution ties together all critical elements to power, fuel, and provide service to customers such as Amazon, BMW, The Southern Company, Carrefour, and Walmart. The Company is now leveraging its know-how, modular product architecture and foundational customers to rapidly expand into other key markets including zero-emission on-road vehicles, robotics, and data centres.
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