Plug Power Inks Deal To Fuel Walmart's Fleet Of Material Handling Lift Trucks
Plug Power Inc (NASDAQ: PLUG) has signed an agreement with retailer Walmart Inc (NYSE: WMT) for an option to deliver up to 20 tons per day of liquid green hydrogen.
The hydrogen will power material handling lift trucks across Walmart distribution and fulfillment centers in the U.S.
The partnership is a part of Walmart’s aim to incorporate alternative zero-carbon energy sources in its supply chain.
Walmart has worked with Plug Power to adopt and expand hydrogen fuel cells throughout its facilities for over a decade.
Green hydrogen is produced through the electrolysis of water with electricity generated from zero-carbon sources.
Price Action: PLUG shares are trading higher by 7.67% at $27.51 in premarket on the last check Tuesday.
See more from Benzinga
Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.