Plug Power Partners with Airbus on Landmark Study to Decarbonize Air Travel & Airport Operations with Green Hydrogen

Rhea-AI Summary

Plug Power has partnered with Airbus to explore the feasibility of using green hydrogen in future aircraft and airports. This collaboration aims to facilitate climate-neutral air travel by 2035, as the aviation industry contributes 2-3% of global CO2 emissions. Plug Power, the largest buyer of liquid hydrogen, will design deployment scenarios for hydrogen infrastructure, while Airbus will share insights into hydrogen aircraft characteristics. They plan to establish a pilot 'Hydrogen Hub' at a US airport to demonstrate the scalability of hydrogen solutions in aviation.

Positive

• Strategic partnership with Airbus to accelerate the transition to green hydrogen in aviation.
• Plug Power leads the market as the largest buyer of liquid hydrogen.
• Development of a pilot 'Hydrogen Hub' at a US airport enhances market visibility.

Negative

• None.

The partnership aims to accelerate the aviation industry’s transition to climate-neutral air travel

LATHAM, N.Y., Oct. 13, 2021 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG) announced today a strategic partnership with Airbus to study the feasibility of bringing green hydrogen to future aircraft and airports worldwide.

With over 20 years of history, and customers like Amazon, Walmart and Home Depot, Plug Power is the largest buyer of liquid hydrogen globally and has built a ‘hydrogen highway’ across the United States, which already includes over 165 refueling stations that service fleets of hydrogen-powered trucks, forklifts and e-mobility vehicles from industries throughout the nation. Plug Power’s hydrogen fuel cell technology also provides reliable, resilient on-site backup power for businesses and institutions, whether data centers, utilities, retailers or universities.

As part of its ambitious goal of bringing zero-emission aircraft to market by 2035, Airbus has identified green hydrogen as one of the most promising options to decarbonize air travel and will be working closely with Plug Power on a joint study and roadmap that could deliver green hydrogen to aircraft and the airport ecosystem in the coming years.

Plug Power will build deployment scenarios for green hydrogen infrastructure at airports, while Airbus will provide insight on hydrogen aircraft characteristics.

“We’ve already revolutionized electric trucks and industrial fleets on the ground, so now we’re turning our sights to the skies,” says Andy Marsh, CEO for Plug Power. “And we’re thrilled to start this journey with Airbus. Not only do we envision a future where aircraft everywhere are powered by green hydrogen, but the airports that serve them as well, including ground support equipment, forklifts, and vehicles that shuttle consumers around airports, and to gates. In aggregate, this should go a long way toward building a more sustainable future for the global aviation industry.”

Glenn Llewellyn, Airbus Vice-President, Zero-Emission Aircraft, adds: “We at Airbus see huge potential for green hydrogen to power our future zero-emission aircraft. This partnership with Plug Power – a true pioneer in developing green hydrogen infrastructure across the United States, and key points across Europe and Asia – will enable us to leverage their expertise to decarbonize airports while preparing them for the arrival of hydrogen aircraft by 2035.”

Today, the aviation industry represents between 2-3% of global human-induced CO₂ emissions. Airports are large cargo hubs that traditionally rely on fossil fuels to power a wide array of ground transport and equipment, and to heat buildings and terminals. Green hydrogen, which is produced through the electrolysis of water with electricity generated from renewable energy sources, has been earmarked by a variety of industries as a potential means to achieve their decarbonization targets, and the aviation industry is no exception.

As part of the partnership, Plug Power and Airbus will select a US airport to serve as the first “Hydrogen Hub” pilot airport in North America, serving as a case study for hydrogen infrastructure scale-up at other airports. Airbus launched its “Hydrogen Hub at Airports” concept in 2020 to jumpstart research into infrastructure requirements for future hydrogen aircraft, as well as low-carbon airport operations, across the entire value chain. Plug Power and Airbus will also consider setting up a range of joint projects as part of this partnership to further pioneer the deployment of green hydrogen infrastructure for aviation, at scale.

Learn more about the potential for green hydrogen in aviation. Tune into the Plug Symposium on October 14, 2021, to hear from Mr. Llewellyn and other industry thought-leaders. Register today at https://cvent.me/lz49q2.

About Plug Power

Plug Power is building the hydrogen economy as the leading provider of comprehensive hydrogen fuel cell turnkey solutions. The Company’s innovative technology powers electric motors with hydrogen fuel cells amid an ongoing paradigm shift in the power, energy, and transportation industries to address climate change and energy security, while meeting sustainability goals. Plug Power created the first commercially viable market for hydrogen fuel cell technology. As a result, the Company has deployed over 50,000 fuel cell systems for e-mobility, more than anyone else in the world, and has become the largest buyer of liquid hydrogen, having built and operated a hydrogen highway across North America. Plug Power delivers a significant value proposition to end-customers, including meaningful environmental benefits, efficiency gains, fast fueling, and lower operational costs. Plug Power’s vertically-integrated GenKey solution ties together all critical elements to power, fuel, and provide service to customers such as Amazon, BMW, The Southern Company, Carrefour, and Walmart. The Company is now leveraging its know-how, modular product architecture and foundational customers to rapidly expand into other key markets including zero-emission on-road vehicles, robotics, and data centers. Learn more at www.plugpower.com.

Plug Power Safe Harbor Statement

This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties about Plug Power Inc.(“PLUG”), including but not limited to statements about PLUG’s expectations regarding its multi-year investment and growth, PLUG’s clean hydrogen technology and fuel cell solutions playing a critical role in achieving climate and decarbonization goals, deepening of relationships with key stakeholders, and acceleration of demand and adoption of hydrogen technology. You are cautioned that such statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times that, or by which, such performance or results will have been achieved. Such statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in these statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of PLUG in general, see PLUG’s public filings with the Securities and Exchange Commission, including the “Risk Factors” section of PLUG’s Annual Report on Form 10-K for the year ended December 31, 2020 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2021 and June 30, 2021. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made as of the date hereof, and PLUG undertakes no obligation to update such statements as a result of new information.

About Airbus

Airbus pioneers sustainable aerospace for a safe and united world. The Company constantly innovates to provide efficient and technologically advanced solutions in aerospace, defence, and connected services. In commercial aircraft, Airbus offers modern and fuel-efficient airliners and associated services. Airbus is also a European leader in defence and security and one of the world’s leading space businesses. In helicopters, Airbus provides the most efficient civil and military rotorcraft solutions and services worldwide. More information on www.airbus.com and on Twitter: @Airbus @AirbusPress

Plug Power Media Contact
Caitlin Coffee
Allison + Partners
plugPR@allisonpr.com

Airbus Media Contact
James Darcy, VP Communications
james.darcy@airbus.com

FAQ

What is the recent partnership between Plug Power and Airbus about?

Plug Power and Airbus have partnered to explore the use of green hydrogen in aviation, aiming for climate-neutral air travel by 2035.

How does Plug Power contribute to the hydrogen economy?

Plug Power is the largest buyer of liquid hydrogen and has established a hydrogen refueling infrastructure across the US.

What are the goals of the Plug Power and Airbus partnership?

The partnership aims to develop green hydrogen infrastructure for airports and future hydrogen aircraft.

What is the significance of the Hydrogen Hub project?

The Hydrogen Hub project will serve as a case study for scaling hydrogen infrastructure at airports in North America.

By what year does Airbus aim to achieve zero-emission aircraft?

Airbus aims to bring zero-emission aircraft to market by 2035.