The production facility will be located in the Western New York Science, Technology and Advanced Manufacturing Park in Alabama City, creating 68 jobs
LATHAM, NY, February 25, 2021 (GLOBE NEWSWIRE) – Plug Power Inc. (NASDAQ: PLUG), a leading provider of turnkey hydrogen solutions building the global green hydrogen economy, is increasing its green hydrogen footprint in New York with the construction of a new state-of-the-art green hydrogen production facility. and an electrical substation at the New York Science, Technology and Advanced Manufacturing Park (STAMP).
As the largest green hydrogen production facility in North America, the plant will produce 45 metric tons of green liquid hydrogen daily for the Northeast region. The plant will use 120 MW of Plug’s next-generation PEM electrolyzers to produce hydrogen using clean New York hydropower. The New York plant joins our current Tennessee plant in a network that aims to supply 500 tons per day of green hydrogen by 2025, 1,000 tons per day globally by 2028 and which, when fully constructed, will deliver to our transportation fuel customers competitive prices with diesel. This $ 290 million investment in green hydrogen production paves the way for the decarbonization of freight transport and logistics and supports the Empire State’s path to achieve carbon neutrality by 2050. The project includes a 450 MW electrical substation that will service the entire STAMP site.
“The future of Plug Power rightfully revolves around building the green hydrogen economy,” said Andy Marsh, Plug Power CEO. “We are grateful that our home state of New York is helping to lead the way in clean energy and climate initiatives. And that Plug Power’s green hydrogen solutions can have such a positive impact on the state’s environmental and economic climate. We thank our elected officials and partners for their leadership. “
Plug Power’s ability to develop its new green hydrogen fuel production facility in New York is the result of a comprehensive state and local incentive package from the New York Power Authority, Empire State Development and Genesee County.
US Senator Charles Schumer said: “Today we marked the beginning of a winning combination of firsts: Plug Power is creating its first green hydrogen production facility and we have secured the first tenant at the WNY STAMP site. This facility will create more than 60 new well-paying green energy jobs, boost Western New York’s economy, and serve as a starting point for creating the first national network of green hydrogen production facilities across the United States to produce fuel free of carbon. carbon. cellular energy. After securing its new gigafactory of more than 375 jobs in Rochester last month, I applaud Plug Power, a proud upstate New York-based company with deep roots and hundreds of New York State workers, for doubling and select STAMP as the home for this new production facility. I will continue to advocate with the US Department of Energy to secure federal support to help make this development fully realized. “
“Plug Power has quickly become a leader in alternative energy technology and I am delighted that they continue to expand their presence here in New York,” said Congressman Joe Morelle. “During my time as New York State Assembly Majority Leader, I was proud to help bring the STAMP business park from concept to reality, and this is exactly the kind of advanced manufacturing investment and growth we’ve always known. the park would facilitate. I am grateful to Plug Power for their commitment to creating jobs, strengthening our economy and building a cleaner and more sustainable future. “
“New York State is committed to establishing itself as the leader in the national effort toward a more renewable future focused on green energy excellence, and we are proving that protecting the economy and fostering economic growth are not mutually exclusive,” he said. Governor Cuomo. “We are incredibly proud to partner with Plug Power once again and applaud the company’s continued investment in the Finger Lakes region and its commitment to creating high-quality green jobs as we work to foster new investment and job growth for a moment. difficult economic for many New Yorkers. “
Eric Gertler, Empire State Acting Commissioner for Development and Chairman and CEO Designate, said: “Plug Power’s progressive innovation and ongoing commitment to New York State are helping advance Governor Cuomo’s clean energy vision. This hydrogen fuel fabrication plant using local hydroelectric power at the STAMP mega-site will strengthen New York’s green economy by creating high-quality, high-tech fabrication jobs. “
Gil C. Quiniones, NYPA President and CEO, said: “The state’s clean energy economy is growing rapidly under the Governor’s leadership and Plug Power is seizing the abundant opportunities for green energy companies to expand and prosper in New York. Leveraging NYPA’s carbon-free hydropower from the Niagara Power Project to attract a company dedicated to developing green hydrogen for fuel cell applications is an example of how we must address the climate crisis. “
STAMP is a 1,250-acre mega-site located at the center of Upstate New York’s largest population, research, and workforce training centers. Connected to the New York high-tech corridor by the New York State Highway, STAMP has completed all site-level design and engineering, and site-level zoning and environmental approvals to house projects including manufacturing of semiconductors, renewable energy manufacturing, biopharmaceutical manufacturing and others. High capacity industries. The mega site is strategically located in NYPA’s low-cost hydroelectric power zone and will be served by local, reliable, 100% renewable, high-capacity energy sources. STAMP has been validated as a regional priority project by the Finger Lakes Regional Economic Development Council and has been supported by local, regional, and state governments, as well as businesses, universities, and utility partners.
Greater Rochester Enterprise President and CEO Matt Hurlbutt said: “Plug Power plans to establish a hydrogen generating facility at the STAMP mega-site in Genesee County due to its unique infrastructure, which includes clean hydroelectric power and low cost. The energy generated at this new facility will also support Plug Power’s Giga factory in Rochester, NY. “
About Plug Power
Plug Power is building the hydrogen economy as a leading provider of turnkey turnkey hydrogen fuel cell solutions. The Company’s innovative technology powers hydrogen fuel cell electric motors amid an ongoing paradigm shift in the power, energy and transportation industries to address climate change and energy security, while meeting sustainability goals. Plug Power created the first commercially viable market for hydrogen fuel cell technology. As a result, the company has deployed more than 40,000 fuel cell systems for electric mobility, more than anyone else in the world, and has become the largest buyer of liquid hydrogen, having built and operated a hydrogen highway in the Americas. North. Plug Power offers a significant value proposition to end customers, including significant environmental benefits, efficiency gains, fast fueling, and lower operating costs. Plug Power’s vertically integrated GenKey solution ties together all the critical elements to power, power and service customers such as Amazon, BMW, The Southern Company, Carrefour and Walmart. The company is now leveraging its knowledge, modular product architecture, and critical customers to rapidly expand into other key markets, including zero-emission road vehicles, robotics, and data centers. Learn more at www.plugpower.com.
Safe harbor declaration
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 regarding PLUG’s expectations. Regarding its multiple investment and one-year growth, PLUG’s clean hydrogen technology and fuel cell solutions play a critical role in achieving decarbonization and climate goals, deepening relationships with stakeholders. key and accelerating demand and adoption of hydrogen technology. You are cautioned that such statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times by which, or by which, such performance or results will have been achieved. Such statements are subject to risks and uncertainties that could cause actual results or performance to differ materially from those expressed in these statements. For a more detailed description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as the risks related to PLUG’s business in general, please refer to PLUG’s public presentations to the Securities and Exchange Commission, including the “Risk Factors” section of PLUG’s Annual Report on Form 10-K for the year ended December 31, 2019 and the Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020 and September 30, 2020 Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are made as of the date hereof, and PLUG assumes no obligation to update such statements as a result of new information.
The Bulleit group
SOURCE: PLUG POWER