Lost your password?
Don't have an account? Sign Up

Plug and Amazon signs ‘Green Agreement’

Plug Power Inc. (NASDAQ: PLUG), a leading provider of turnkey hydrogen solutions for the global green hydrogen economy signed a hydrogen supply deal with Amazon (NASDAQ: AMZN)

In order 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, Plug and Amazon announced

Tweet on the green-agreement with Plug and Amazon

This deal with Amazon marks a 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.

  • Green Hydrogen Can Help Amazon Meet 2040 Net-Zero Carbon Commitment

“Landing a green hydrogen supply deal with a customer like Amazon validates our multi-year investment and strategic expansion into green hydrogen. Plug officially stated

“Amazon is proud to be an early adopter of green hydrogen given its potential to decarbonize hard-to-abate sectors like long-haul trucking, steel manufacturing, aviation, and ocean shipping,” said Kara Hurst, vice president of Worldwide Sustainability at Amazon.

The green hydrogen supply deal is a continuation of joint efforts between Amazon and Plug to expand the applications of green hydrogen beyond material handling.

  • Amazon and Plug have signed a deal for Plug to supply 10,950 tons per year of liquid green hydrogen to fuel Amazon operations.
  • Plug has granted Amazon a warrant to acquire up to 16,000,000 shares of Plug ‘s common stock (Warrant Shares)

Amazon would vest the warrant in full if it spends $2.1 billion over the seven-year term of the warrant across Plug products, including, but not limited to, electrolyzers, fuel cell solutions, and green hydrogen.


source: Plug/Amazon