Hydrogen fuel-cell maker Plug Power Inc. will supply 10,950 tons per year of liquid green hydrogen to power Amazon.com Inc.’s transportation and building operations starting in 2025.
Amazon officials said in an Aug. 25 news release that the green hydrogen supplied by Plug Power will replace diesel and other fossil fuels and supply enough annual power for 30,000 forklifts or 800 heavy-duty trucks used in long-haul transportation.
Green hydrogen is produced by splitting water into hydrogen and oxygen using zero-carbon electric power.
Financial terms of the green hydrogen agreement were not disclosed, but Plug Power said the deal will help it achieve a revenue goal of $3 billion by 2025. Additionally, Plug issued an Amazon subsidiary a warrant to purchase up to 16,000,000 shares of Plug ‘s common stock. The exercise price for the first 9,000,000 shares is $22.9841 apiece. The…