Plug Power Inc (PLUG)

[uksausage]

Not quite out of the blue but an acquisition like this is great news.

We have been "playing" in robotics with BMW for some time and supposedly working with Amazon on this as well. May be these were partnering on some projects and Amazon suggested it would be synergistic to own them so their direction could align with PLUG/Amazon's

No mention of the price though?

Hope the University research on automating refueling works with their devices as well.

"The purchase of EnergyOr’s assets allows Plug Power to integrate small, ultralightweight fuel cell technology into its already robust portfolio of ProGen hydrogen fuel cell engines in a capital efficient manner. This acquisition facilitates the adoption of more powerful, viable, and clean technology solutions for both commercial and military applications that necessitate lightweight fuel cell systems. EnergyOr’s current technology enables larger payloads for the robots, while extending run-time 2 to 4 times that of a lithium ion battery solution, further enhancing Plug Power to position as a comprehensive hydrogen fuel cell solutions provider for the future needs of logistics applications.

This acquisition allows Plug Power to address new applications beyond its core market of material handling. Through Plug Power’s established sales channels, the company will take the technology to market at volume scale, expanding into applications including small scale robotics, unmanned aerial vehicles (UAV), and other autonomous applications. The USA-manufactured products will incorporate EnergyOr’s lightweight systems into current Plug Power offerings, while applying Plug Power’s proprietary MEA stack technology to improve EnergyOr’s products’ cost effectiveness and efficiency."