Plug Power has completed the acquisitions of United Hydrogen Group and Giner ELX, following on from its initial announcement back in May.
The acquisitions are in line with the New York-based company’s vertical integration strategy in the hydrogen business which details plans to have more than 50% of the hydrogen used to be green by 2024.
By implementing the planned green hydrogen generation capacity, Plug Power will be able to serve its existing customers and potentially serve large industrial customers in the steel, fertilizer and ammonia manufacturing markets.
“Plug Power is working to build the modern clean hydrogen economy. Every decision we make is with an eye to the future, not the past.” said Andy Marsh, Plug Power CEO.
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