PLUG

Plug Power Expands Partnership With Walmart

Plug Power (NASDAQ: PLUG) today announced that it is expanding its relationship with Walmart (NYSE: WMT). The maker of fuel cell engines will be supplying the retailer's e-commerce network.

Plug Power has been providing Walmart with its hydrogen engines and fueling since 2010. Walmart uses about 9,500 Plug Power fuel cell vehicles at 37 of its North American distribution centers.

hydrogen fuel cell electric vehicle sign on side of white truck

Image source: Plug Power.

Walmart uses Plug Power's GenKey, a range of offerings to power, fuel, and service hydrogen and fuel cell applications. Plug Power began expanding into Walmart's e-commerce in August 2020, and says it will continue that expansion into 2021.

Uses for the company's products include material-handling trucks and automated guided vehicles. The logistics of e-commerce require a variety of product handling at warehouses, distribution centers, and stores. The company's products are also used in commercial fleets for delivery vehicles.

Jeff Smith, senior director for Walmart's supply chain, touted the benefits of Plug Power's solutions during the pandemic, saying, "At our distribution facilities across the country, our decision to be an early adopter of Plug Power's hydrogen fuel cells has helped us manage and meet the increased demand for food and basic supplies."

10 stocks we like better than Plug Power
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*

David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Plug Power wasn't one of them! That's right -- they think these 10 stocks are even better buys.

See the 10 stocks

*Stock Advisor returns as of November 20, 2020

Howard Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.