Plug Power Plans Hyundai Joint Venture for Asian Sales
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Plug Power Inc., the fuel-cell company that’s gained more than 4,000 percent in the past year, plans to form a joint venture with Hyundai Hysco Co. to develop and sell equipment in Asia.
The companies signed a memorandum of understanding to create a five-year project using stack-and-plate fuel-cell technology developed by Hyundai Hysco, Latham, New York-based Plug said today in a statement. The joint venture terms must be finalized by July 31.