Plug Power Inc., a provider of hydrogen fuel cell systems and fueling solutions enabling e-mobility, announced a new agreement with Spanish hydrogen production and distributor Compañía Logística de Hidrocarburos (CLH).
Through the agreement, CLH will develop hydrogen production assets and downstream markets in Spain, in the industrial, mobility and power production/storage sectors for distribution to Plug Power customers throughout Europe.
The CLH Group is a leading international company in the transport and storage fuel products in Europe. Through zero emission hydrogen fuel cell system applications commercialized by Plug Power, including industrial material handling, on road commercial fleet vehicles and port applications (air, marine, and rail) in which CLH has a strong presence, both partners expect to impact the growth of the renewable hydrogen market in Spain and Europe.
The agreement provides opportunity for both companies to identify opportunities and customers in the space.
Plug Power expects its European business to grow by more than 60% per year for the next five years. Plug Power says that its customers are currently the largest users of liquid hydrogen in the United States.
The CLH Group is the leading company engaged in the transport and storage of oil products in the Spanish market and the second-largest logistics operator in Europe in terms of the extension of its pipeline network and storage capacity. In Spain, it has a pipeline network more than 4,000 kilometers in length and 39 storage facilities with capacity for 8 million cubic meters, as well as being present at the main Spanish airports. At the international level, the company is developing an ambitious expansion plan and conducts its business in the UK, Oman, Ireland, Panama and Ecuador.
CLH has an international presence in logistics, fuel storage and delivery in markets including motor, aviation and marine. Together, Plug Power and CLH intended to explore other potential areas of collaboration related to the development of hydrogen solutions for airports, goods transportation and delivery networks—markets in which high-asset utilization is important, and the value proposition of fuel cells makes sense.