Here are three things to know.
1. Through the agreement, Amazon will use Plug Power’s Genkey technology to power its forklifts. The Genkey technology allows for faster charging time, lower costs and greater energy efficiency in Amazon’s fulfillment operations, Plug Power said.
2. Amazon and Plug Power plan to further collaborate on the fuel cell technology to identify new application areas.
3. The deal also involves an investment option that would give Amazon rights to acquire a 23 percent stake in the Plug Power.
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