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What you need to know for 08/17/2017

Plug Power gets $2.5 million federal grant

Plug Power gets $2.5 million federal grant

A $2.5 million federal grant is going to Plug Power to develop hydrogen fuel cells for airport appli

A $2.5 million federal grant is going to Plug Power to develop hydrogen fuel cells for airport applications.

The company is tasked with modifying an electric tow tractor so it can run on Plug Power’s GenDrive hydrogen fuel cells. The hydrogen fuel cell-powered tow tractors will be deployed at 15 FedEx airport hubs to test their productivity, efficiency and environmental benefit.

The grant is part of a three-year initiative under the federal Department of Energy’s Office of Energy Efficiency and Renewable Energy.

“Plug Power’s plan to develop and deploy fuel cell-powered baggage tow tractors aligns with [FedEx’s] commitment to continually research and test technologies that will help us connect the world in responsible and resourceful ways,” FedEx Managing Director Russell Musgrove said in a statement. “FedEx continually works toward goals to increase vehicle efficiencies and reduce emissions in big and small ways that are sustainable and long-lasting.”

Plug Power CFO Andy Marsh said ground support equipment is a natural fit for its GenDrive product.

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