Plug Power Inc. is an American company engaged in the development of hydrogen fuel cell systems that replace conventional batteries in equipment and vehicles powered by electricity. The hydrogen storage systems allow the system to “recharge” in a matter of minutes as opposed to several hours for lead-acid batteries .

In the environmentally sensitive area of energy production, Plug Power Inc. delivers end-to-end clean hydrogen and zero-emissions fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, stationary power market, and others in North America and internationally. It engages in building an end-to-end green hydrogen ecosystem, including green hydrogen production, storage and delivery, and energy generation through mobile or stationary applications

The new deal with Amazon: On August 25, 2022, Plug Power signed a hydrogen supply deal with Amazon (NASDAQ: AMZN) to provide liquid green hydrogen starting in 2025 to help decarbonize Amazon’s operations as part of its commitment to be net-zero carbon by 2040.

This deal with Amazon marks a significant growth opportunity for Plug and is expected to help the company toward its 2025 $3 billion revenue goal. This deal attests to Plug’s strategy to build an end-to-end green hydrogen ecosystem and provide integrated hydrogen solutions for its global customers.

Amazon plans to spend $2.1 billion over the seven-year term of the agreement period across Plug products. In turn it would also gain a significant shareholding in Plug further increasing the value of Plug.