LATHAM, N.Y. - February 1, 2024 - (Investorideas.com Newswire) Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, has completed the first fill of a Plug tanker with liquid green hydrogen produced at its Woodbine, Georgia production plant, heading straight off to customer sites. The achievement comes one week following the official commencement of operations at the plant. A Plug cryogenic trailer has been filled with liquid hydrogen for use at Walmart, Amazon and Home Depot sites. This is enough liquid hydrogen to fuel 3,216 forklifts a day.
Plug's Georgia plant currently operates eight 5-megawatt (MW) electrolyzers, the largest proton exchange membrane (PEM) electrolyzer deployment in the U.S. The plant can produce up to 15 tons per day of liquid green hydrogen and serves customers in the eastern U.S. From production to fill, the process was completed in about four days, and now-on, the trailers will deliver the green hydrogen to customers through Plug's extensive logistics network.
"The first delivery of our green hydrogen molecule marks a critical milestone for the green hydrogen economy," said Andy Marsh, CEO of Plug. "If you want to see the hydrogen ecosystem of the future, it's at Plug today. There's no doubt that Plug is demonstrating the future with real products and projects at scale."
"We took a big step today to make cost-effective green hydrogen available to our pedestal customers. This validates our investment in building out a production plant network - a bet on our customers' desire for more sustainable solutions," said Sanjay Shrestha, Plug's General Manager, Energy Solutions and Chief Strategy Officer.
The company's advanced cryogenic and liquefaction capabilities are integral to its operations, allowing the green hydrogen to be safely and efficiently transported to customers. Plug's liquid hydrogen tankers can transport up to 80,000 pounds per maximum gross vehicle weight. It takes approximately eight gas tube trailers to deliver the same amount of gaseous hydrogen as one liquid hydrogen tanker.
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: The Plant capacity to produce up to 15 tons per day of liquid green hydrogen; Plug's advanced cryogenic and liquefaction capabilities allowing hydrogen to be safely and efficiently transported to customers; Plug developing 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.
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