Plug Power and SK Innovation partner to advance hydrogen ecosystem in Asia

January 07, 2021
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Truly disruptive

SK Innovation wasted no time executing on its announced hydrogen strategy from just one month ago, in which it set targets for hydrogen production and fueling infrastructure. The $1.5 billion investment into Plug Power is a complementary partnership that enables full vertical integration in the hydrogen economy: Plug Power has expertise in fuel cell stacks and electrolyzers, while SK Innovation's strategy focuses on hydrogen production and distribution. Clients should note that this partnership immediately makes SK Innovation one of the leaders in Asia's early hydrogen economy but note that executing on this strategy will still require significant amounts of capital. 

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