Investors - FEBRUARY 25, 2021

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South Korea’s SK Group closes $1.6b hydrogen investment with Plug Power

by Released

SK Group, South Korea’s largest energy provider and third-largest conglomerate, has closed a $1.6 billion investment and strategic partnership with Plug Power Inc., a 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 has recently increased its focus on building the infrastructure and developing the technology to make hydrogen energy a reality for global markets. SK Holdings, the holding company of SK Group, has established a Hydrogen Business Development Center, taking the lead of the group’s hydrogen long-term project that consists of members from SK’s energy companies, including SK Innovation and SK E&S.

This new center will guide the companies’ transition into the production and distribution of hydrogen energy, includin

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