The transaction involves technology, assets, and personnel, but the financial terms have not been disclosed.
EnergyOr is based in Montreal, Canada, and is the leader in advanced lightweight and compact PEM (proton-exchange membrane) hydrogen fuel cell (HFC) systems for robotics, small scale material handling and aerospace applications.
The purchase of EnergyOr’s assets allows Plug Power to integrate small, ultralightweight fuel cell technology into its already robust portfolio of ProGen hydrogen fuel cell engines in a capital efficient manner.
This acquisition facilitates the adoption of more powerful, viable, and clean technology solutions for both commercial and military applications that necessitate lightweight fuel cell systems.
EnergyOr’s current technology enables larger payloads for the robots, while extending run-time 2 to 4 times that of a lithium ion battery solution, further enhancing Plug Power to position itself as “a comprehensive hydrogen fuel cell solutions provider” for the future needs of logistics applications, according to the company.
This acquisition allows Plug Power to address new applications beyond its core market of material handling.
Through Plug Power’s established sales channels, the company will take the technology to market at volume scale, expanding into applications including small scale robotics, unmanned aerial vehicles (UAV), and other autonomous applications.
The USA-manufactured products will incorporate EnergyOr’s lightweight systems into current Plug Power offerings, while applying Plug Power’s proprietary MEA stack technology to improve EnergyOr’s products’ cost-effectiveness and efficiency.
Andy Marsh, Plug Power’s CEO, says: “As we continue to grow, we are the go-to company in applying fuel cell technology across a broad range of applications.
“It’s a natural progression for us to take our innovative technology and what we have learned in the material handling and e-mobility spaces and apply that to other industries that will thrive with HFCs.
“EnergyOr is the expert in the UAV fuel cell market, and we are excited to incorporate their technology and expertise as part of the Plug Power team.”
EnergyOr is a leader in aerospace UAV applications, setting several world records for endurance flights through the use of their fuel cell technology.
In March of 2015, they powered the world’s first fuel cell multirotor UAV, later used in conjunction with the French Air Force’s Centre d’ Expertise Aérienne Militaire (CEAM).
In December 2015, the H2 Quad 400 was developed, becoming the first fuel cell Quad rotor in the world to operate outdoors in a real-world environment. HFC solutions provide longer duration flights and the benefits of fast fueling, allowing customers to maximize the utilization of these assets.
Michel Bitton, president and CEO of EnergyOr, says: “This acquisition combines two complementary businesses that will expand the capabilities of hydrogen fuel cell technology in the world of electrification.
“We look forward to working with the Plug Power team that has a proven track record of commercial success across a variety of industries. We are of the same mind: hydrogen fuel technology is the future of e-mobility, and we’re working together to continue to make that future a reality.”
Thomas Jones, EnergyOr’s CTO, says: “Over the course of my career, I have seen the broad applications of hydrogen fuel cell technology, and UAVs are just one of the many industries that hydrogen power can disrupt.
“Partnering with the Plug Power team, with their resources and business acumen, will enable us to continue to push the envelope of integrating and advancing HFCs into a variety of autonomous applications”
EnergyOr, a Plug Power company, is now a wholly-owned subsidiary of Plug Power and will maintain its status and presence as a Canadian company.