3M and Plug Power Announce Strategic Supply Agreement for PEM Stack Membrane for Fuel Cells LATHAM, N.Y.-- Plug Power Inc. (NASDAQ:PLUG), a leader in providing clean, reliable energy solutions and 3M, a science and technology company, today announce a supply agreement for membrane electrode assemblies (MEAs) to be used in Plug Power designed proton exchange membrane (PEM) fuel cell stacks. 3M, based in St. Paul MN, has applied its expertise in electrochemistry, fluoropolymer membrane, and high throughput manufacturing for advanced fuel cell MEAs. Plug Power has integrated this capability into the Plug Power fuel cell stack designs to improve performance and extend life. "3M is pleased to have the opportunity to draw upon our broad fuel cell expertise to supply Plug Power MEAs with industry leading cost, performance, and durability," said Jeffrey Hohn, 3M's Vice President of Renewable Energy. "Plug Power is a global leader in fuel cells and this strategic relationship leverages both companies' strengths, enabling the next generation of electric mobility." Through this strategic supply agreement, robust fuel cell stacks will be manufactured in Plug Power's Latham, NY and Spokane, WA facilities to support the $20 billion material handling market. Additionally, this new fuel cell stack technology will be utilized to expand Plug Power's presence into hydrogen enabled electric vehicle applications outside of the material handling market. Fuel cell systems using the 3M MEA's and Plug Power stack design will begin shipments in the fourth quarter of 2015. "With this strategic relationship, both Plug Power and 3M will set the new benchmark for performance and reliability for hydrogen fuel cell products in the most demanding electric mobility application – material handling," said Andy Marsh, Plug Power CEO. "The joint knowledge and development capability of both companies will facilitate additional cost and performance improvements for the future of the electric vehicle market."
Plug Power and 3 M have announced a supply agreement , which will see Plug Power integrate 3 M ’s expertise in manufacturing advanced fuel cell battery electrode assemblies ( batteries ) into its proton exchange membrane ( PEM ) fuel cell stack designs to improve reliability and extend life . The new fuel cell stacks will give Plug Power a niche in hydrogen enabled electric vehicle applications outside of the material handling industry , and are expected to launch in Q4 2015 .