Plug Power Inc. has acquired Canada-based EnergyOr Technologies Inc.
EnergyOr is a manufacturer of advanced lightweight and compact PEM hydrogen fuel cell systems for robotics, small scale material handling and aerospace applications.
The acquisition will allow Plug Power to integrate small, ultralightweight fuel cell technology into its portfolio of ProGen hydrogen fuel cell engines.
“As we continue to grow, we are the go-to company in applying fuel cell technology across a broad range of applications,” said Andy Marsh, Plug Power CEO.
“It’s a natural progression for us to take our innovative technology and what we have learned in the material handling and e-mobility spaces and apply that to other industries that will thrive with HFCs.”
“EnergyOr is the expert in the UAV fuel cell market, and we are excited to incorporate their technology and expertise as part of the Plug Power team.”
The acquisition facilities the adoption of more powerful, viable, and clean technology solutions for both commercial and military applications, allowing Plug Power to address new applications beyond its core market of material handling.
“The acquisition combines two complementary businesses that will expand the capabilities of hydrogen fuel cell technology in the world of electrification,” said Michel Bitton, President and CEO of EnergyOr.
“We look forward to working with the Plug Power team that has proven track record of commercial success across a variety of industries. We are of the same mind: hydrogen fuel technology is the future of e-mobility and we’re working together to continue to make that future a reality.”