Plug Supplies 8 MW of Hydrogen Fuel Cells to Energy Vault to Displace Diesel Generators in California Wine Country
07 Junho 2023 - 8:00AM
Plug Power Inc. (NASDAQ: PLUG), a leading provider of turnkey
hydrogen solutions for the global green hydrogen economy, announced
it will supply Energy Vault Holdings, Inc. with 8 MW (megawatts) of
hydrogen fuel cell stationary power to deliver clean energy to the
city of Calistoga, located in California Wine Country, during times
of wildfires and other emergencies. This will be the largest
planned hydrogen powered fuel cell installation in the United
States.
The California Public Utility Commission (CPUC) requires that
state utility grid operators shut off power during severe weather
to help prevent wildfires. Energy Vault has typically rented mobile
diesel generators to provide backup power in Calistoga during these
Public Safety Power Shutoff (PSPS) events. Now, Plug’s PEM (proton
exchange membrane) fuel cells will offer cleaner, more
operationally flexible, and more cost-effective power to the
microgrid.
“Our agreement with Energy Vault marks a huge step forward for
hydrogen fuel cells in the microgrid market and represents the
future of utility power back-up,” said Andy Marsh, CEO of Plug.
“Green hydrogen is uniquely positioned to solve the need for clean
long-duration energy storage in at-risk communities like Calistoga
that are susceptible to power interruptions. Plug’s fuel cell
solutions make it easy for partners like Energy Vault to harness
the power of hydrogen fuel cell technology and realize CPUC’s
vision of clean microgrid generation.”
Energy Vault previously announced it is building a community
microgrid for Pacific Gas and Electric Company (PG&E) to
provide Calistoga with a minimum of 293 megawatt-hours (MWh) of
dispatchable carbon-free energy during planned outages and PSPS
events. The microgrid will integrate a short duration battery
system with a long duration storage system of fuel cells and green
liquid hydrogen. Plug’s fuel cell technology will serve as the
microgrid’s stationary backup power generator.
The energy storage system will be owned, operated, and
maintained by Energy Vault while providing dispatchable power under
a long-term tolling agreement with PG&E. Plug will deliver 8 MW
of fuel cell power, made up of 40-foot ISO containers. The fuel
cells will be manufactured in the US, primarily at Plug’s
gigafactory in Rochester, New York, and assembled and tested at
Vista Technology Park, Plug’s world-class fuel cell manufacturing
facility in Slingerlands, New York. This production approach will
allow Energy Vault to take advantage of the additional 10% ITC
available under the IRA for American-made content.
Construction of the energy storage system in Calistoga is
anticipated to begin in the fourth quarter of 2023 with commercial
operation expected by the third quarter of 2024. For more
information on Plug’s stationary power fuel cell, visit
https://www.plugpower.com/learn-more-about-plugs-stationary-power-products/.
About PlugPlug 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 185 fueling stations,
more than anyone else in the world, and is the largest buyer of
liquid hydrogen. With plans to build and operate a green hydrogen
highway across North America and Europe, Plug is building a
state-of-the-art Gigafactory to produce electrolyzers and fuel
cells and multiple green hydrogen production plants that will yield
500 tons of liquid green hydrogen daily by 2025. Plug will deliver
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 plan to supply 8MW of hydrogen fuel cell
stationary power, delivering clean energy to the City of Calistoga,
during times of wildfires and other emergencies during Public
Safety Power Shutoff events. This being the largest planned
hydrogen powered fuel cell installation in the United States;
Plug’s PEM fuel cells offering cleaner, more operationally flexible
and more cost-effective power to the microgrid as compared to
mobile diesel generators; Plug’s fuel cell technology serving as
PG&E’s community microgrid’s stationary backup power generator;
Energy Vault being able to take advantage of the additional 10% ITC
available under the IRA for American-made content; Construction
beginning in the fourth quarter of 2023 with commercial operation
expected by the third quarter of 2024. 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 CONTACTCaitlin Coffee
Allison+PartnersplugPR@allisonpr.com
Plug Power (NASDAQ:PLUG)
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