Plug Power Expansion in Europe
June 5, 2014
Plug Power is building a business for long-term, substantial growth. A key aspect of this long-term growth is pursuing global expansion opportunities. One such venture is HyPulsion, Plug Power’s partnership with Air Liquide, developed for the marketing and sales of GenDrive fuel cell products in Europe.
HyPulsion is continuously gaining momentum in Europe. A clear indication of interest was seen at the 2014 CeMAT show in Hannover, Germany in mid-May. CeMAT is Europe’s largest material handling trade show, and it generated 1.7 million business leads this year.
Throughout CeMAT, GenDrive fuel cells were prominently represented by Toyota, in a Triago 40 CB truck, and Still, in an RX-60 electric forklift truck. Plug Power and HyPulsion teams were also available to conduct meetings with other key OEMs, like Jungherich, Linde and Crown. Buzz from the show has already stirred up PR and customer conversations. And, we expect this to ramp up even more in the coming weeks!
We estimate that the European material handling market for fuel cells will total $18B in 2014, which is about a third larger than the US market.