SK Group closes $1.6B investment in Plug Power to advance hydrogen strategy; new Hydrogen Business Development Center
SK Group, South Korea’s largest energy provider and third-largest conglomerate, announced the close of a $1.6-billion investment in and strategic partnership with Plug Power Inc., a leading provider of hydrogen fuel cell and fueling solutions enabling e-mobility. (Earlier post.)
The partnership is part of a long-term, multi-billion dollar plan by SK to help lead the global transition to a hydrogen economy and make meaningful progress toward a more sustainable energy system.
Recognizing the importance of hydrogen as a clean alternative to traditional energy sources, SK Group has heightened its focus on building the infrastructure and developing the technology to make hydrogen energy a reality for global markets.
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NEW YORK, Feb. 25, 2021 /PRNewswire/ SK Group, South Korea s largest energy provider and third-largest conglomerate, announced today the close of a $1.6 billion investment and strategic partnership with Plug Power Inc., a leading provider of hydrogen fuel cell and fueling solutions enabling e-mobility. The partnership is part of a long-term, multi-billion dollar plan by SK to help lead the global transition to a hydrogen economy and make meaningful progress toward a more sustainable energy system.
SK Group and Plug Power Inc. announced Thursday the close of SK’s $1.6 billion investment in Plug Power to partner on accelerating hydrogen as an alternative energy source in Asia markets. Pictured here (from left to right) at the investment ceremony in Seoul, South Korea, are: Jeong-joon Yu, Vice Chairman & CEO of SK E&S; Hyeongwook Choo, CEO of SK E&S and Head of Hydrogen Business Development Center of SK Holdings; Andrew J. Marsh, CEO of Plug