Europe is seeing a boom in hydrogen refuelling stations. And Plug Power is behind it.
What’s happening:
- Plug Power (NASDAQ: PLUG) has announced they have successfully deployed 13 individual hydrogen refuelling stations across Europe
Why it matters:
- Hydrogen refuelling stations represent one of the most important areas of decarbonization, especially for commercial vehicles that are unable to transition to electric batteries due to a lack of long distance range or the absence of charging station infrastructure
By the numbers:
- All 13 of Plug Power’s hydrogen refuelling stations in Europe have been built over the last 24 months
- Plug Power has successfully built 250 hydrogen refuelling stations globally, which is more than any other company
Going deeper:
- Plug Power previously landed the largest loan ever granted from the United States Department of Energy for building out new production facilities for clean hydrogen in the United States of America
- Chevron (NYSE: CVX) has also been ramping up their bet on hydrogen as a low carbon fuel source, previously announcing they would construct a large scale hydrogen production facility in California
The intrigue:
- Hydrogen is also being explored as a fuel source for airplanes, with some of the largest venture capital funds in the world including Breakthrough Energy Venture previously backing hydrogen plane startup ZeroAvia in a mega funding round to decarbonize air travel
