The companies previously announced a partnership to develop a fuel cell-based hydrogen powertrain for regional aircraft. The recent minority investment by Plug Power will enable Universal Hydrogen to complete the construction of a subscale aircraft powertrain by Q2 2021. In addition to this strategic investment, the companies further agreed to a global offtake relationship that will see green hydrogen become cost-competitive with jet fuel by 2025.
Plug Power is an innovator and a leader in the green hydrogen economy, with over 40,000 fuel cell systems, 150 fueling stations deployed globally, and dispensing more than 40 tons of hydrogen daily.
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