Plug Power Announces Acquisition of EnergyOr
GlobeNewswireJune 11, 2019, 1:00 PM GMT+2
Plug Power will use EnergyOr’s lightweight fuel cell systems to expand into the robotics and UAV markets, providing advanced hydrogen fuel cell solutions
LATHAM, N.Y., June 11, 2019 (GLOBE NEWSWIRE) -- Plug Power Inc. (PLUG), a leading provider of hydrogen engines and fueling solutions enabling e-mobility, today announced the acquisition of EnergyOr’s technology, assets, and personnel. EnergyOr is based in Montreal, Canada, and is the leader in advanced lightweight and compact PEM hydrogen fuel cell (HFC) systems for robotics, small scale material handling and aerospace applications.
The purchase of EnergyOr’s assets allows Plug Power to integrate small, ultralightweight fuel cell technology into its already robust portfolio of ProGen hydrogen fuel cell engines in a capital efficient manner. This acquisition facilitates the adoption of more powerful, viable, and clean technology solutions for both commercial and military applications that necessitate lightweight fuel cell systems. EnergyOr’s current technology enables larger payloads for the robots, while extending run-time 2 to 4 times that of a lithium ion battery solution, further enhancing Plug Power to position as a comprehensive hydrogen fuel cell solutions provider for the future needs of logistics applications.
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