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Plug Power and SK Group form joint venture to support the growing hydrogen economy in Asia

Plug Power and SK Group form joint venture to support the growing hydrogen economy in Asia

Plug Power and SK Group have announced plans to form a joint venture company in South Korea to support the rapidly growing Asian hydrogen market.

The two companies yesterday (6th Jan) unveiled their major commitment, stating plans to provide hydrogen fuel cell systems, hydrogen fuelling stations and electrolysers to the Korean and broader Asian markets.

Helping to push forward such efforts, SK Group will make a $1.5bn strategic investment in the New York-based hydrogen fuel cell solutions specialist, as well as provide its significant knowledge and presence in the market.

Commenting on the partnership, Andy Marsh, CEO of Plug Power, said, “SK Group has an established strategy for building out the hydrogen economy in South Korea and beyond.”

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