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Climate Change

US hydrogen company, with partner SK, eyes China and Vietnam

Plug Power to make fuel cells in South Korea amid rising demand for green energy

Plug Power is increasing investments in green hydrogen as more companies globally are looking at hydrogen as a power source. (Source photos by Plug Power)

TOKYO -- U.S. hydrogen fuel cell maker Plug Power, which counts Walmart and Amazon as its clients, is planning to expand its businesses in China, Vietnam and South Korea, through a joint venture with conglomerate SK Group.

Earlier this year, South Korea's SK made a $1.6 billion investment in the Nasdaq-listed company. Through the joint venture, the two companies are planning to set up a factory in South Korea by 2023 to produce fuel cells and electrolyzers that extract "green hydrogen" from water using renewable energy.

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