This week, Plug Power’s CEO Andy Marsh attends the 2015 Aspen Institute Clean Energy Forum focused on “The New Energy Innovation Economy”. This annual forum brings together top experts on energy, finance, clean tech and policy for an in-depth examination of the transition to a clean energy economy.
There will be many discussions about how clean energy and energy efficiency are becoming integrated into our world of enhanced connectivity, greater consumer control, and new regulatory structures designed to lessen the carbon impact of energy production and keep pace with innovation. Andy will present in the session “Full Sector Upheaval – What Oil and Gas Dynamics Mean for Clean Energy”.
An important influencer in the new energy economy is the viability of hydrogen as a fuel source. Today, more than 90% of the hydrogen that powers fuel cells in use across the U.S. is pumped into a Plug Power product, and every day more than seven tons of liquid hydrogen is dispensed into our GenDrive units. It’s clear, Plug Power is helping lead the nation in development of a hydrogen infrastructure and economy.
As an industry leader, we’ve taken a great deal of time to understand why hydrogen matters. For material handling customers, hydrogen matters because it allows users to have fast fueling capabilities and constant power in their forklift fleets. This results in productivity advances that enable achievement of operational goals. In fact, many Plug Power customers are seeing record production output.
Plug Power has a fundamental understanding that the key to scaling not only our business, but also the entire fuel cell industry, is in the development of reliable and cost effective hydrogen solutions. We’ve already become experts in building hydrogen dispensing infrastructures for the $4 billion material handling market. And, we believe we can expand to serve a $40 billion market with the ability to deliver fuel cost-effectively to sites of all sizes, within multiple industries.
Plug Power is developing strategic solutions for supplying hydrogen, including:
- Addressing smaller locations like retail stores and stationary power sites, using electrolyzers or small reformers to produce hydrogen. This, alone, has the potential to increase our market in North America by over 20%.
- Migrating into hydrogen generation either on-site or at a separate facility that would be used as a hub for hydrogen distribution.
- Developing a hydrogen generation model for larger scale sites, such as the type that would be required for transport refrigeration units.
Plug Power’s ultimate goal is to make hydrogen a ubiquitous fuel. We are putting our resources and focus on hydrogen – the enabler. And we hope to make fuel cells a universal, clean power source that will replace diesel engines and batteries across a wide spectrum of industries.
* Want to learn more? Listen to the Dallas Plug POWERTrip presentations by Andy Marsh and Tim Cortes, archived here!