When investors think of Plug Power, they think about hydrogen. The company wants to dominate in hydrogen-based technologies including fuel cells and electrolyzers that split water into hydrogen and oxygen gases using electricity. But investors also soon will have to think about electric- vehicle charging when they consider Plug.
Plug (ticker: PLUG) announced a solution for charging a lot of electric vehicles all at once without stressing the electricity grid. They will use their fuel-cell technology to deliver the juice.
“As EV adoption increases dramatically over the next few years and electricity demand strains the grid, our new high-power fuel cell system will be a game changer for the EV industry,” said Jose Luis Crespo, general manager of applications and gobal accounts for Plug, in a news release. “Customers are approaching Plug for hydrogen power generation options, and we expect this offering to be one of the largest applications for stationary use this year.”
Plugging in, perhaps, 1,000 electric-delivery vans at night is no easy task. It can require a lot of capital and pre-planning between the fleet owner and a local power utility. A Plug system is intended to bypass the utility by providing the electricity with a fuel cell and hydrogen gas.
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