Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP News Agency) soon ki Lee Journalist = SK and SK E&S announced that they would become the largest shareholders by securing a 9.9% stake in Plug Power, a global hydrogen business in the United States.

The investment was made by SK and SK E&S jointly investing about 1.6 trillion won(1.5 billion dollars)by investing 800 billion won each.

In the second half of this year, it will complete the world’s largest fuel cell production plant with 1.5gigawatts(1.5GW) per year in New York, USA, and start full-scale production.

Through this, it is expected that SK will solidify its position as a global leader by significantly lowering the production cost of fuel cells and water electrolysis facilities, which are the core products of Plug Power, and securing cost competitiveness.

As SK has secured its position as the largest shareholder of Plug Power through this investment, it plans to accelerate its efforts to secure leadership in Asian hydrogen markets through synergy between the two companies.

Meanwhile, the investment transaction was consulted by Citigroup Global Market Securities and STB(Simpson Thacher & Bartlett), a global law firm.

NSP News Agency soon ki Lee Journalist s8789@nspna.com
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