Plug Power forms joint venture with SK E&S to build East Asian Gigafactory for hydrogen products
By Bradley Osborne - 18th October 2021
USA / South Korea – Plug Power Inc, a hydrogen fuel-cell manufacturer based in Latham, New York, USA, has formed a joint venture with South Korea’s SK E&S Co Ltd, an energy and chemicals company and subsidiary of the SK Group based in Seoul, to build a Gigafactory for the manufacture of products required for the production and distribution of hydrogen and for its use as a fuel in vehicles. The facility is set to be built in an undisclosed metropolitan area of South Korea by 2024.
Through this joint venture, the two companies will manufacture electrolysers – which are essential to produce green (i.e., renewable) hydrogen from water – and fuel cells. These products will be targeted at the domestic market and select overseas markets in Asia. The two companies also plan to cooperate in the distribution of hydrogen across 100 projected fuel stations nationwide.
