# Amazon acquires right to buy stake in Plug Power, signs supply contract

Plug Power Inc announced that Amazon.com Inc acquired the right to buy up to 23% of the company and that it would supply batteries to power forklifts used by Amazon in its warehouses. Amazon must spend at least $600 million over the life of the contract.

- Type: Contract
- Announced: 2017-04-05
- Where: United States
- Value: $600.0M
- Status: announced
- Products: hydrogen fuel cells, batteries for forklifts
- Sectors: [Material Handling](https://endata.com/sectors/material-handling.md)

## Companies

- [Plug Power](https://endata.com/companies/7809.md) (supplier)
- [Amazon.com Inc](https://endata.com/companies/23369.md) (customer)

## Sources

- [reuters.com](https://www.reuters.com/article/technology/amazon-acquires-right-to-buy-stake-in-fuel-cell-maker-plug-power-idUSKBN1771BB/), 2017-04-05: "Amazon.com Inc had acquired the right to buy up to 23 percent of the company and that it would supply batteries to power forklifts used by the online retailer in its warehouses."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.