09.07.2024 13:00:07 - dpa-AFX: GNW-Adhoc: Plug Delivers and Commissions over 95 MW of Electrolyzer Capacity Globally
SLINGERLANDS, N.Y., July 09, 2024 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ:
PLUG), a global leader in comprehensive hydrogen solutions for the green
hydrogen economy, is proud to announce that it has begun installing and
commissioning electrolyzer systems worldwide, with many already operational and
producing hydrogen today. To date over 95 MW of Plug electrolyzer systems are in
operation or commissioning at sites across the world, setting a new PEM
electrolyzer capacity milestone in the hydrogen industry.
The location of these systems spans multiple regions in North America, Europe,
Africa, Asia, New Zealand and India. Each electrolyzer deployment is managed and
installed in compliance with the diverse regulatory and compliance requirements
specific to each geography. The systems, ranging from one-megawatt (MW) to 40 MW
in capacity, are operating at external customer sites that have purchased Plug's
PEM electrolyzers. Since installation, Plug's electrolyzers have collectively
produced over 1,500 metric tons of hydrogen.
While the Company's Georgia hydrogen plant is currently the largest operating
PEM electrolyzer system in the world, the external customer sites installation
makes Plug one of the largest PEM electrolyzer Original Equipment Manufacturer
(OEM) installed base in the world.
"This milestone represents a significant achievement for Plug, underscoring our
leadership in delivering proven technology to meet the growing demand for
hydrogen worldwide," said Plug CEO, Andy Marsh. "Deploying electrolyzer systems
across multiple continents and producing over 1,500 metric tons of hydrogen, is
a clear example that at Plug, we're not just talking about the future of
hydrogen - we're actively building it today."
The hydrogen produced via Plug electrolyzers at these locations will contribute
to several initiatives, such as developing a green hydrogen refueling network,
powering green hydrogen charging stations for fleet vehicles, supporting
mobility applications like hydrogen fuel cell-powered forklifts and light
commercial vehicles, replacing methane-fired furnaces in the production process
and more.
Plug is also on schedule to ship and begin commissioning 37 additional units,
which is expected to increase capacity by 40 metric tons per day of hydrogen in
the second half of this year. As more systems around the world come online and
operate at full capacity, like the recently announced 25MW electrolyzer for the
European market, Plug's electrolyzer systems will produce 93 metric tons of
hydrogen per day.
To learn more about our global electrolyzer deployments, check out our blog
post: https://www.plugpower.com/plug-doing-real-things-global-electrolyzer-
customer-deployments-roundup (https://www.plugpower.com/?p=12553)/
(https://www.plugpower.com/)
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 69,000 fuel cell systems and over 250 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
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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 expectations with respect to delivery and
commissioning of its electrolyzer systems, including remaining sites in 2024 and
their contributions to initiatives; the timing of shipping and beginning
commissioning of 37 additional electrolyzer units and Plug's expectation that
such units will increase capacity by 40 metric tons per day of hydrogen in the
second half of this year; and Plug's expectation that it will produce up to 93
metric tons of hydrogen per day. 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, 2023, Plug's Quarterly Report on Form 10-Q for the quarter ended March
31, 2024 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
Fatimah Nouilati
Allison
plugPR@allisonpr.com (mailto:plugPR@allisonpr.com)
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/19050d90-6ed1-48ba-829e-
f306efa708a1
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