Plug Power Starts Production of Liquid Hydrogen at its Existing Tennessee Plant
06 Fevereiro 2024 - 9:00AM
Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive
hydrogen solutions for the green hydrogen economy, has re-started
operation of its hydrogen plant in Charleston, Tennessee, adding
about ten tons per day (TPD) of liquid hydrogen supply back onto
the U.S. market. Plug also implemented design improvements to
enhance overall plant efficiency.
Plug’s cryogenic trailer fleet will deliver liquid hydrogen from
the Tennessee plant to Plug’s pedestal customers throughout North
America, with a high-density of users clustered throughout the
Midwest and along the East Coast. This adds to Plug’s supply of
liquid hydrogen currently being delivered to customers for use in
material handling operations, fuel cell electric vehicle fleets,
and stationary power applications.
“With the Tennessee plant coming back online, we have taken
another step towards building a vertically integrated hydrogen
network in North America,” said Andy Marsh, Plug Power CEO. “In
addition, we expect to have our joint venture plant in Louisiana to
come online in the third quarter of 2024, adding another 15 TPD of
liquid hydrogen capacity to the market.”
“This liquid hydrogen production out of Georgia and Tennessee is
expected to bring down the average cost of delivered hydrogen,
positively impacting Plug’s fuel margins in line with our
strategy,” added Sanjay Shrestha, General Manager, Energy Solutions
& Chief Strategy Officer at Plug.
Plug began production of liquid green hydrogen at its Georgia
plant on January 23, 2024. At 15 TPD, this is the largest liquid
green hydrogen plant in the U.S. market, and largest PEM
electrolyzer deployment operating in the U.S. The company is doing
substantial work on building plants in New York and Texas, as well
as Europe, with plants underway in Finland and Belgium.
About Plug
Plug is building an end-to-end green hydrogen ecosystem, from
production, storage, and delivery to energy generation, to help its
customers meet their business goals and decarbonize the economy. In
creating the first commercially viable market for hydrogen fuel
cell technology, the company has deployed more than 60,000 fuel
cell systems and over 180 fueling stations, more than anyone else
in the world, and is the largest buyer of liquid hydrogen.
With plans to operate a green hydrogen highway across North
America and Europe, Plug built a state-of-the-art Gigafactory to
produce electrolyzers and fuel cells and is developing multiple
green hydrogen production plants targeting commercial operation by
year-end 2028. Plug delivers its green hydrogen solutions directly
to its customers and through joint venture partners into multiple
environments, including material handling, e-mobility, power
generation, and industrial applications.
For more information, visit www.plugpower.com.
Plug Power Safe Harbor Statement
This communication contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995
that involve significant risks and uncertainties about Plug Power
Inc. (“PLUG”), including but not limited to statements about:
Plug’s implemented design improvements enhancing overall plant
efficiency; Plug’s joint venture plant in Louisiana coming online
by Q3 2024; The liquid hydrogen production out of the Georgia and
Tennessee plants bringing down the average cost of delivered
hydrogen, positively impacting Plug’s fuel margins; Plug’s
development of multiple green hydrogen production plants targeting
commercial operation by year-end 2028. Such statements are subject
to risks and uncertainties that could cause actual performance or
results to differ materially from those expressed in these
statements. For a further description of the risks and
uncertainties that could cause actual results to differ from those
expressed in these forward-looking statements, as well as risks
relating to the business of PLUG in general, see PLUG’s public
filings with the Securities and Exchange Commission (the “SEC”),
including the “Risk Factors” section of PLUG’s Annual Report on
Form 10-K for the year ended December 31, 2022 and any subsequent
filings with the SEC. Readers are cautioned not to place undue
reliance on these forward-looking statements. The forward-looking
statements are made as of the date hereof, and PLUG undertakes no
obligation to update such statements as a result of new
information.
MEDIA CONTACT
Kristin Monroe
Allison+Partners
plugPR@allisonpr.com
Plug Power (NASDAQ:PLUG)
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