LATHAM, N.Y., May 01, 2024 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a
global leader in comprehensive hydrogen solutions for the green hydrogen economy, secured the first international safety and performance certification in
Korea for electrolyzer manufacturing, enabling the commercial sale of Plug electrolyzer systems in the Korean market. This achievement was completed through Plug's collaboration with SK E&S in the form of SK Plug HyVerse, a joint
venture aimed at advancing the hydrogen sector within the Asian market.
Plug achieved certification of its EX425D - a 1 MW (megawatt) PEM (proton exchange membrane) electrolyzer that produces up to 425 kg (kilograms) per day of green hydrogen - to the Korean Gas Safety (KGS) Corporation Standard AH271 for Facility/Technical/Inspection Code for Manufacture of Water Electrolysis Hydrogen Generator.
As part of the certification process, KGS approved Plug's Rochester Gigafactory for electrolyzer stack production and Plug partner Alpha ECC's manufacturing facility in Vietnam for system production and assembly.
"We are pleased to have achieved this critical certification and look forward to
supporting decarbonization goals in Korea," said Plug CEO Andy Marsh. "As the first company to receive this certification and over five decades of operational
expertise backing our PEM stack technology, we are in a unique position as the first mover for PEM electrolyzers in the Korean market."
SK Plug HyVerse is nearing the completion of a project on Jeju Island, Korea, to
support hydrogen-powered heavy-duty trucks. Additionally, the SK Plug HyVerse is
expanding its efforts to build over 25 hydrogen fueling stations across South Korea and has developed a hydrogen-powered bus using Plug's ProGen module that will reach mass production by year's-end.
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 (http://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 projected PEM electrolyzer sales; Plug's commercial success in the Korean market; Plug's ability to advance the hydrogen sector within the Asian market; the ability for Plug's PEM electrolyzer to produce up to 425 kg per day of green hydrogen; Plug's ability to support decarbonization goals in Korea; Plug's position as the first mover for PEM electrolyzers in the Korean market; Plug's commitment to support its joint ventures; and Plug's ability to mass produce its ProGen module by year's-end. 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 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
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plugPR@allisonpr.com (mailto:plugPR@allisonpr.com)
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