Amazon Signs Green Hydrogen Supply Deal With Plug Power


Plug Power Inc has signed a deal with Amazon.com Inc to supply liquid green hydrogen, the companies said on Thursday, sending the hydrogen fuel cell maker's shares up over 12% in early trade.
Green hydrogen is often touted as the future of energy, as the flexible and zero-emission fuel can be used for transportation and electricity generation.
Amazon said Plug Power will supply 10,950 tons of green hydrogen every year starting 2025 that it will use to replace grey hydrogen, diesel, and other fossil fuels. The companies, however, did not divulge the supply pricing specifics.
Grey hydrogen is made from natural gas, without the carbon sequestration, and makes up the bulk of the 90 million tonnes of hydrogen produced globally every year.
The green hydrogen deal will provide enough annual power for 30,000 forklifts or 800 heavy-duty trucks, Amazon said.
The world's largest online retailer said that it uses hydrogen to power over 15,000 fuel-cell propelled forklifts, and plans to increase that number to 20,000 units in three years.
The company also has an order for 100,000 electric delivery vehicles with Rivian Automotive Inc, in which it is the largest shareholder, according to Refinitiv.
Plug said the Amazon deal will help the company grow towards its goal of $3 billion in revenue in 2025.
It also said it has granted Amazon a warrant to buy up to 16 million of its shares at an exercise price of $22.9841 a unit for the first 9 million shares.
Amazon would vest the warrant in full if it spends $2.1 billion over the seven-year term of the warrant across Plug products, it added.
(Reporting by Akash Sriram and Ruhi Soni in Bengaluru; Editing by Shinjini Ganguli)
Related News
Latest Cars
- Maruti Suzuki
VictorisExpected Price₹‚¹ 10.5 - 19.99 Lakh - VinFast
VF6Expected Price₹‚¹ 16.49 - 18.29 Lakh - VinFast
VF7Expected Price₹‚¹ 20.89 - 25.49 Lakh - Citroen
Basalt XExpected Price₹‚¹ 7.95 - 11.63 Lakh - Mercedes-AMG
CLE 53Expected Price₹‚¹ 1.35 Crore - Renault
TriberExpected Price₹‚¹ 6.3 - 9.4 Lakh - MG
M9 EVExpected Price₹‚¹ 69.9 Lakh - BMW
2 Series Gran CoupeExpected Price₹‚¹ 45.3 - 47.2 Lakh - Kia
Carens Clavis EVExpected Price₹‚¹ 17.99 - 24.49 Lakh - Tesla
Model YExpected Price₹‚¹ 59.89 - 67.89 Lakh
Upcoming Cars
Trending News
Latest News
- car&bike Team | Sep 21, 2025Aprilia SR 175: In PicturesThe new Aprilia SR 175 replaces the SR 160, offering a larger engine, fresh features, and new colour options while retaining its familiar design and chassis.1 mins
- car&bike Team | Sep 20, 2025BMW G 310 RR Limited Edition Teased Ahead Of LaunchThe upcoming special edition of the G 310 RR will be limited to just 310 units.1 mins
- car&bike Team | Sep 20, 2025GST 2.0: Keeway, Zontes And QJ Motor Two-Wheelers Prices RevisedThe GST 2.0 price reshuffle continues with Keeway, Zontes and QJ Motor bikes getting more affordable, while Benelli models will cost more.2 mins
- car&bike Team | Sep 20, 2025New Hyundai Venue N-Line Spotted Testing In India Ahead Of October DebutHyundai has been extensively testing the new Venue in India over the past year, with the model to debut in October.2 mins
- car&bike Team | Sep 20, 2025Royal Enfield 350 Motorcycle Range To Be Available On Flipkart From Sept 22Under the partnership, buyers in five cities will be able to purchase their preferred 350 cc Royal Enfield motorcycle via the e-commerce platform.2 mins
- car&bike Team | Sep 20, 2025GST 2.0 Effect: Jeep India Announces Revised Prices For SUV Range; Prices Cut By Up To Rs 4.84 LakhThe Jeep India range is priced from Rs 17.73 lakh (ex-showroom) for the entry Compass, down from Rs 18.99 lakh (ex-showroom) pre-GST 2.0.1 mins