Southwire Taps Plug Power, Inc. to Advance Carbon Reduction from the Supply Chain
Plug Power Inc. (NASDAQ: PLUG) has entered into a new agreement with Southwire, a leading North American wire and cable manufacturer, to implement a clean hydrogen ecosystem at their Dallas-Fort Worth, Texas distribution site. The partnership includes:
- Supply of 50+ hydrogen-powered forklifts with GenDrive fuel cells
- Installation of fueling station with 4 GenFuel dispensers
- Hydrogen sourcing from Plug's facilities in Georgia, Tennessee or Louisiana
- 5-year fuel cell service agreement and 10-year hydrogen infrastructure maintenance
The solution is projected to eliminate over 1 million pounds of CO2 annually from Southwire's direct operations. This agreement marks Plug's strategic entry into the industrial supplier market, expanding beyond their established presence in e-commerce and retail sectors. The partnership demonstrates Plug's commitment to providing sustainable alternatives to traditional lead acid batteries while supporting Southwire's sustainability goals.
Plug Power Inc. (NASDAQ: PLUG) ha stipulato un nuovo accordo con Southwire, un importante produttore nordamericano di cavi e fili, per implementare un ecosistema di idrogeno pulito presso il loro sito di distribuzione a Dallas-Fort Worth, Texas. La partnership comprende:
- Fornitura di oltre 50 carrelli elevatori a idrogeno dotati di celle a combustibile GenDrive
- Installazione di una stazione di rifornimento con 4 erogatori GenFuel
- Approvvigionamento di idrogeno dalle strutture di Plug in Georgia, Tennessee o Louisiana
- Contratto di servizio per celle a combustibile di 5 anni e manutenzione dell'infrastruttura dell'idrogeno per 10 anni
Si prevede che la soluzione elimini oltre 1 milione di libbre di CO2 all'anno dalle operazioni dirette di Southwire. Questo accordo segna l'ingresso strategico di Plug nel mercato dei fornitori industriali, espandendosi oltre la loro presenza consolidata nei settori dell'e-commerce e del retail. La partnership dimostra l'impegno di Plug a fornire alternative sostenibili alle tradizionali batterie al piombo, supportando al contempo gli obiettivi di sostenibilità di Southwire.
Plug Power Inc. (NASDAQ: PLUG) ha firmado un nuevo acuerdo con Southwire, un importante fabricante de cables y alambres en América del Norte, para implementar un ecosistema de hidrógeno limpio en su sitio de distribución en Dallas-Fort Worth, Texas. La asociación incluye:
- Suministro de más de 50 carretillas elevadoras impulsadas por hidrógeno con celdas de combustible GenDrive
- Instalación de una estación de abastecimiento con 4 dispensadores GenFuel
- Abastecimiento de hidrógeno de las instalaciones de Plug en Georgia, Tennessee o Luisiana
- Acuerdo de servicio de celdas de combustible por 5 años y mantenimiento de infraestructura de hidrógeno por 10 años
Se proyecta que la solución elimine más de 1 millón de libras de CO2 anualmente de las operaciones directas de Southwire. Este acuerdo marca la entrada estratégica de Plug en el mercado de proveedores industriales, expandiéndose más allá de su presencia establecida en el comercio electrónico y el sector minorista. La asociación demuestra el compromiso de Plug de proporcionar alternativas sostenibles a las baterías de plomo tradicionales, al tiempo que apoya los objetivos de sostenibilidad de Southwire.
플러그 파워 Inc. (NASDAQ: PLUG)는 북미의 주요 전선 및 케이블 제조업체인 사우스와이어와 텍사스 달라스-포트워스에 있는 유통 센터에 청정 수소 생태계를 구현하기 위한 새로운 계약을 체결했습니다. 이 파트너십은 다음을 포함합니다:
- GenDrive 연료 전지가 장착된 50대 이상의 수소 동력 지게차 공급
- 4개의 GenFuel 디스펜서가 있는 연료 충전소 설치
- 조지아, 테네시 또는 루이지애나에 있는 플러그의 시설에서 수소 공급
- 5년 연료 전지 서비스 계약 및 10년 수소 인프라 유지보수
이 솔루션은 사우스와이어의 직접 운영에서 연간 100만 파운드 이상의 CO2를 제거할 것으로 예상됩니다. 이 계약은 플러그가 산업 공급업체 시장에 전략적으로 진입하는 것을 의미하며, 전자상거래 및 소매 부문에서의 기존 입지를 넘어 확장하는 것입니다. 이 파트너십은 플러그가 전통적인 납산 배터리에 대한 지속 가능한 대안을 제공하려는 의지를 보여주며, 사우스와이어의 지속 가능성 목표를 지원합니다.
Plug Power Inc. (NASDAQ: PLUG) a conclu un nouvel accord avec Southwire, un fabricant de fils et de câbles leader en Amérique du Nord, pour mettre en œuvre un écosystème d'hydrogène propre sur leur site de distribution à Dallas-Fort Worth, Texas. Le partenariat comprend :
- Fourniture de plus de 50 chariots élévateurs alimentés à l'hydrogène avec des piles à hydrogène GenDrive
- Installation d'une station de ravitaillement avec 4 distributeurs GenFuel
- Approvisionnement en hydrogène à partir des installations de Plug en Géorgie, Tennessee ou Louisiane
- Contrat de service de pile à hydrogène de 5 ans et maintenance de l'infrastructure à hydrogène pendant 10 ans
La solution devrait éliminer plus d'un million de livres de CO2 par an des opérations directes de Southwire. Cet accord marque l'entrée stratégique de Plug sur le marché des fournisseurs industriels, s'étendant au-delà de leur présence établie dans les secteurs du commerce électronique et du détail. Le partenariat démontre l'engagement de Plug à fournir des alternatives durables aux batteries au plomb traditionnelles tout en soutenant les objectifs de durabilité de Southwire.
Plug Power Inc. (NASDAQ: PLUG) hat eine neue Vereinbarung mit Southwire, einem führenden nordamerikanischen Hersteller von Drähten und Kabeln, getroffen, um ein sauberes Wasserstoff-Ökosystem an ihrem Vertriebsstandort in Dallas-Fort Worth, Texas, zu implementieren. Die Partnerschaft umfasst:
- Lieferung von über 50 wasserstoffbetriebenen Gabelstaplern mit GenDrive-Brennstoffzellen
- Installation einer Tankstelle mit 4 GenFuel-Dispensern
- Wasserstoffbeschaffung aus den Anlagen von Plug in Georgia, Tennessee oder Louisiana
- 5-jähriger Servicevertrag für Brennstoffzellen und 10-jährige Wartung der Wasserstoffinfrastruktur
Die Lösung soll jährlich über 1 Million Pfund CO2 aus den direkten Betrieben von Southwire eliminieren. Diese Vereinbarung markiert Plugs strategischen Eintritt in den Markt für industrielle Lieferanten und erweitert sich über ihre etablierte Präsenz im E-Commerce- und Einzelhandelssektor hinaus. Die Partnerschaft zeigt Plugs Engagement, nachhaltige Alternativen zu herkömmlichen Blei-Säure-Batterien anzubieten und gleichzeitig die Nachhaltigkeitsziele von Southwire zu unterstützen.
- Entry into new industrial supplier market segment
- Long-term revenue stream: 5-year service agreement and 10-year infrastructure maintenance contract
- Large-scale deployment of 50+ hydrogen-powered forklifts and fueling infrastructure
- Demonstrates commercial viability of hydrogen solutions as alternative to lead acid batteries
- None.
Insights
Plug Power has secured a significant new partnership with Southwire, a major North American wire and cable manufacturer, marking strategic market expansion beyond their established e-commerce and retail customer base into the industrial supplier sector. The deal includes supplying over 50 hydrogen-powered forklifts with GenDrive fuel cells and establishing a complete hydrogen ecosystem at Southwire's new Texas distribution facility.
The agreement encompasses multiple revenue streams: hardware (forklifts and fuel cells), infrastructure (fueling station with four dispensers), fuel supply from Plug's regional production facilities, and long-term service contracts spanning 5-10 years. This creates a predictable, multi-year revenue pipeline while demonstrating Plug's ability to penetrate new market segments with its complete hydrogen solution stack.
CEO Andy Marsh's emphasis on returning to core markets and fundamentals suggests a strategic refocusing after recent challenges. The company is leveraging its established material handling technology – where it pioneered commercial fuel cell applications – to expand its footprint in industrial operations.
The most promising aspect is the extended service agreements (5 years for fuel cells, 10 years for infrastructure), which provide recurring revenue visibility beyond the initial equipment sale. This aligns with industry shifts toward service-based business models that generate higher margins and customer retention compared to one-time hardware sales.
This partnership represents a textbook example of how hydrogen technology can deliver immediate decarbonization benefits in industrial applications. By directly replacing conventional lead-acid batteries in material handling equipment, Plug's solution eliminates a significant emissions source while delivering operational improvements.
The expected displacement of over 1 million pounds of CO2 annually from Southwire's direct operations provides a measurable sustainability win. This quantifiable impact is exactly what industrial customers need to demonstrate progress toward their carbon reduction goals – converting abstract sustainability commitments into concrete operational improvements.
What's particularly noteworthy is how Plug positions itself as an end-to-end solution provider – supplying not just the fuel cells but the entire ecosystem including hydrogen production, delivery, and infrastructure maintenance. This comprehensive approach removes implementation barriers that have historically slowed hydrogen adoption.
From Southwire's perspective, this demonstrates serious commitment to their sustainability strategy across the supply chain. By choosing hydrogen over conventional battery technology, they're gaining both operational benefits (24/7 operation without lengthy charging cycles) and environmental advantages. The 10-year infrastructure commitment indicates a long-term strategic decision rather than a pilot project, suggesting growing confidence in hydrogen's industrial viability.
Plug penetrates the industrial supplier market with new agreement by demonstrating a sustainable option to lead acid batteries
SLINGERLANDS, N.Y., March 13, 2025 (GLOBE NEWSWIRE) -- Southwire, a leading North American manufacturer of wire and cable, will tap Plug Power Inc. (NASDAQ: PLUG), a global leader in hydrogen solutions for the hydrogen economy, to implement a clean hydrogen ecosystem at its new distribution site in Dallas-Fort Worth, Texas.
This initiative marks Plug’s entry into the industrial supplier market, building on its established presence in the e-commerce and retail sectors. Through this partnership with Southwire, Plug is expanding its reach by demonstrating the versatility and appeal of its green hydrogen solutions in new markets.
Under the recently signed agreement, Plug will supply more than 50 hydrogen-powered forklifts, equipped with GenDrive fuel cells, and a fueling station featuring four GenFuel dispensers. Plug will also source hydrogen from one of its production facilities in Georgia, Tennessee or Louisiana. Additionally, Plug will provide on-site service for the fuel cells for an initial five-year period and maintain the hydrogen infrastructure for 10 years.
Aiming to accelerate carbon reduction goals from the supply chain, Southwire has embedded sustainability into the strategy and its business practices. The company's commitment to sustainability encompasses promoting energy and water efficiency, reducing greenhouse gas emissions, sourcing and redesigning with sustainable materials and enhancing circular economy. The Plug solution is expected to displace over 1 million pounds of CO2 per year from our direct operations.
"The deployment of our hydrogen and fuel cell solutions at Southwire reflects our laser-focused commitment to our core markets and a return to the fundamentals that have driven our success," said Plug CEO, Andy Marsh. "Today, sustainability is a critical factor in the decision-making processes of many organizations. Our innovative hydrogen infrastructure provides a sustainable alternative at any scale."
“Our partnership with Plug Power is a testament to the commitment of our stakeholders, as well as our team members to ensure sustainability is part of our culture, embedded in our daily decision-making process,” said Se Oh, Southwire’s vice president of operations sustainability. “As we seek to discover what is possible, we’ll continue to leverage our partners such as Plug Power to help make Southwire generationally sustainable for the next 75 years and beyond.”
Plug revolutionized the material handling industry by establishing the first commercial market for fuel cells. Designed as direct replacements for traditional batteries, Plug’s fuel cells deliver reliable, consistent power while eliminating emissions. With the added benefit of clean hydrogen supply, Plug enables customers to keep their fleets running 24/7, maximizing productivity and operational efficiency.
About Southwire
Southwire Company, LLC is North America's leading wire and cable company. The
About Plug Power
Plug is building the global hydrogen economy with a fully integrated ecosystem spanning production, storage, delivery, and power generation. A first mover in the industry, Plug provides electrolyzers, liquid hydrogen, fuel cell systems, storage tanks, and fueling infrastructure to industries such as material handling, industrial applications and energy producers—advancing energy independence and decarbonization at scale.
With electrolyzers deployed across five continents, Plug leads in hydrogen production, delivering large-scale projects that redefine industrial power. The company has deployed over 70,000 fuel cell systems and 250 fueling stations and is the largest user of liquid hydrogen. Plug is rapidly expanding its generation network to ensure reliable, domestically produced supply, with hydrogen plants currently operational in Georgia, Tennessee, and Louisiana, producing 39 tons per day.
With employees and state-of-the-art manufacturing facilities across the globe, Plug powers global leaders like Walmart, Amazon, Home Depot, BMW, and BP.
For more information, visit 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 ability to effectively and economically implement a hydrogen infrastructure at specific customer distributions; Plug’s continued build-out of its hydrogen network and its ability to allow customers to seamlessly integrate hydrogen into their operations across multiple industries; customer demand for liquid hydrogen; the impact of policies in the U.S. on the demand for liquid hydrogen; the liquid hydrogen production out of Plug’s hydrogen plants bringing down the average cost of delivered hydrogen, positively impacting Plug’s fuel margins; and Plug’s ability to build out a vertically integrated hydrogen ecosystem, including its ability to develop multiple hydrogen production plants targeting commercial operation by year-end 2028. 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 (the “SEC”), including the “Risk Factors” section of Plug’s Annual Report on Form 10-K for the year ended December 31, 2024, Plug’s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2024, June 30, 2024 and September 30, 2024 and any subsequent filings with the SEC. 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.
Media Contact:
Fatimah Nouilati
Email: PlugPR@plugpower.com
FAQ
What is the scope of Plug Power's new agreement with Southwire?
How much CO2 reduction is expected from PLUG's hydrogen solution at Southwire?
Which new market segment is PLUG entering with this Southwire partnership?
Where will PLUG source the hydrogen for Southwire's operations?
