Plug Power Eyes Korean Expansion? Secures First International Certification For Electrolyzer Manufacturing In The Country
Portfolio Pulse from Nabaparna Bhattacharya
Plug Power, Inc. (NASDAQ:PLUG) has secured the first international safety and performance certification for electrolyzer manufacturing in Korea, enabling commercial sales in the market. This milestone was achieved through a collaboration with SK E&S and marks Plug Power as a first mover in the Korean PEM electrolyzer market. The certification covers the EX425D, a 1 MW PEM electrolyzer. Additionally, Plug Power announced two new contracts for Basic Engineering and Design Packages in Europe and the U.S., further expanding its global footprint.
May 01, 2024 | 12:10 pm
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Plug Power secures a pivotal certification for electrolyzer manufacturing in Korea, enabling commercial sales and marking a significant expansion into the Korean market.
The certification allows Plug Power to commercially sell its electrolyzer systems in Korea, a significant market for green hydrogen. This development, coupled with the announcement of new contracts in Europe and the U.S., could positively impact investor sentiment and the company's stock price in the short term. The collaboration with SK E&S and the establishment as a first mover in the Korean market further solidify Plug Power's position in the global green hydrogen industry.
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