Plug Power completes cross-border acquisition of EnergyOr

1 minute read
11 June 2019

On June 11, 2019, Plug Power Inc. (NASDAQ: PLUG) acquired Canadian fuel cell manufacturer EnergyOr Technologies Inc.

EnergyOr, based in Montréal, Quebec, is a leader in UAV technology, developing advanced lightweight and compact PEM fuel cell systems for niche markets such as robotics, small-scale material handling and aerospace.

Plug Power is a US-based electrical equipment manufacturing company that produces hydrogen fuel cell systems to replace conventional batteries in electrical equipment and vehicles. The purchase of EnergyOr's assets will allow Plug Power to expand its current portfolio of hydrogen fuel cell engines by adding ultra-lightweight fuel cell technology, further expanding its core market into electricity-based robotics and vehicles, including UAVs.

Gowling WLG advised EnergyOr with respect to this acquisition with a team that included Marie-France Béland and Georgi Paskalev.

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