Southwire and Plug Power Inc. Partner to Revolutionize Carbon Reduction in Texas
Key Ideas
- Plug Power Inc. collaborates with Southwire to introduce a clean hydrogen ecosystem in Texas, aiming to reduce over 1 million pounds of CO2 annually.
- The partnership includes supplying hydrogen-powered forklifts, installing fueling stations, and maintaining hydrogen infrastructure, showcasing Plug's commitment to sustainability.
- This strategic move by Plug marks its expansion into the industrial supplier market, demonstrating a shift towards sustainable alternatives beyond traditional lead acid batteries.
- Southwire's sustainability goals align with the objectives of the partnership, emphasizing the importance of reducing carbon emissions in the supply chain.
Plug Power Inc. (NASDAQ: PLUG) has formed a new partnership with Southwire, a prominent North American wire and cable manufacturer, to establish a clean hydrogen ecosystem at Southwire's distribution site in Dallas-Fort Worth, Texas. The collaboration involves the supply of 50+ hydrogen-powered forklifts, installation of a fueling station with 4 dispensers, sourcing hydrogen from Plug's facilities, and long-term service agreements. This initiative is projected to eliminate more than 1 million pounds of CO2 annually from Southwire's operations, showcasing a significant step towards carbon reduction. The agreement signifies Plug's strategic entry into the industrial supplier market, expanding its presence beyond e-commerce and retail sectors. By providing sustainable alternatives to lead acid batteries, Plug demonstrates its commitment to environmental sustainability. The partnership with Southwire highlights the mutual dedication to achieve sustainability goals and reduce carbon footprint in the supply chain, emphasizing a positive shift towards cleaner energy solutions.