Plug Power is developing the batteries of the future using hydrogen powered cells. This could truly be a game changer for Electric vehicles, as there is more demand for efficient batteries.
Electric vehicles are moving their closer to center stage due to their simple design, low cost and efficiency. The increased demand from consumers is worth noting as it proves the demand for cleaner solutions as well as encourages further innovation, and ultimately adoption.
Recently Plug Power have brought a surge of industry and investor enthusiasm for hydrogen technology. New York headquartered fuel cell maker recently entered into a €2 billion partnership with European power company Acciona to producing green hydrogen.
There are specific applications where fuel cells are much more superior to batteries: when it comes to things like fleet vehicles, where fast fueling, versus charging time and total range is important. Reports suggest the joint venture announced between Plug Power and French car maker Renault will have a 30% market share by 2030.
Plug Power has been the darling of WAll Street recently with its stratospheric rise, although with much volatility. However, the interest in hydrogen fuel cells is something we should all welcome as it could be revolutionary to the Electric Vehicle industry as a whole.
