News Update about Fuel Cell Company
It has been announced that Plug Power Inc. (PLUG) has agreed to sell 10,000,000 shares of its common stock at a price ofย $2.35ย per share, for gross proceeds of $23,500,000. The shares were offered and are expected to be sold to an existing single shareholder, Odey Asset Management, in a registered direct offering conducted without an underwriter or placement agent.โฆโฆ
Plug Power, a USA fuel cell leader, has been supplying forklift fuel cells to FreezPak, Sysco Houston, UNFI, and Wegmans, and is also producing fuel cells that can be connected to applications such as communications equipment UPS and trains.
There is an increasing requirement for indoor forkliftsย for large warehouses. However, fossil fuel forklifts aren't ideal to use indoors because of atmospheric emissions, and electric battery forklifts requires charging time which takes too long, making it inconvenient for one to use the other while charging. However, the indoor fuel cell forklift market is expected to grow and Plug power has recently succeeded in commercializing hydrogen fuel cell forklift.
About VINATech Co.,Ltd
VINATech (KONEX :126340)ย provides carbon solution that produces the core component MEAs of PEMFC(Proton-exchange membrane fuel cell), if we can partner with companies like Plug, we'll be able to create a good synergy. Adding to that, VINATech also has the ability to mass-produce Pt/C catalyst and carbon support, which are directly related to the performance of the MEAs.ย
Sources of Articles :
[PLUG POWER INC. ANNOUNCES $23.5 MILLION REGISTERED DIRECT OFFERING WITH ODEY ASSET MANAGEMENT] :ย https://www.ir.plugpower.com/Press-Releases/Press-Release-Details/2019/Plug-Power-Inc-Announces-235-Million-Registered-Direct-Offering-With-Odey-Asset-Management/default.aspx
[Proton-exchange membrane fuel cell] https://en.wikipedia.org/wiki/Proton-exchange_membrane_fuel_cell
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