Production plant located in Western New York Science, Technology and Advanced Manufacturing Park, Alabama, creating 68 jobs
LATHAM, NY, February 25, 2021 (GLOBE NEWSWIRE) – Plug Power Inc. (NASDAQ: PLUG), a leading provider of hydrogen turnkey 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 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, serving the Northeast region. The plant will use 120 MW of Plug’s next-generation PEM electrolyzers to make hydrogen using clean NY hydropower. The New York plant joins our existing plant in Tennessee in a network that aims to deliver 500 tons per day of green hydrogen by 2025, 1,000 tons per day globally by 2028 and which, when fully built, will offer our customers transportation of competitive prices compared to diesel. This $ 290 million investment in green hydrogen production paves the way for the decarbonization of cargo transportation and logistics and supports the Empire State’s path to achieving carbon neutrality by 2050. The project includes a 450 MW electrical substation that will serve the entire STAMP location.
“Plug Power’s future revolves around building the green hydrogen economy,” said Andy Marsh, CEO of Plug Power. “We are grateful that our home state, New York, is helping to lead the clean energy and climate initiatives. And Plug Power’s green hydrogen solutions can have a very 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 production facility in New York is the result of a comprehensive package of state and local incentives from the New York Power Authority, Empire State Development and Genesee County.
Senator Charles Schumer of the United States said: “Today we inaugurate a winning combination of innovations: Plug Power is creating its first green hydrogen production facility and we guarantee the first tenant at the WNY STAMP site. This facility will create more than 60 new well-paying green energy jobs, boost the economy of western New York and serve as a starting point for creating the first national network of green hydrogen production facilities in the U.S. to produce carbon-free fuel. cellular power. After securing its new gigafactory of more than 375 jobs in Rochester last month, I applaud Plug Power, a proud company based in upstate New York, with deep roots and hundreds of NYS employees, for doubling positions and select STAMP as the home of this new production unit. I will continue to advocate with the US Department of Energy to secure federal support to help bring this development to full fruition. ”
“Plug Power quickly became a leader in alternative energy technology and I am excited that they are expanding their presence here in New York even more,” said Congressman Joe Morelle. “During my time as Majority Leader at the NYS Assembly, I was proud to help bring STAMP Business Park from concept to reality, and this is exactly the type of investment and growth in advanced manufacturing that we’ve always known the Park would facilitate. I am grateful to Plug Power for its commitment to creating jobs, strengthening our economy and building a cleaner and more sustainable future. “
“The State of New York is committed to establishing itself as a leader in the national effort towards a more renewable future, focused on excellence in green energy, and we are showing that protecting the economy and stimulating economic growth are not mutually exclusive,” he said. Governor Cuomo. “We are extremely 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 promote new investments and job growth during a difficult economic period. for many New Yorkers. ”
Empire State Development Acting Commissioner and Designated President and CEO Eric Gertler said: “Plug Power’s forward thinking innovation and continued commitment to New York State are helping to promote Governor Cuomo’s clean energy vision . This hydrogen fuel manufacturing facility using local hydropower on the STAMP mega site will strengthen New York’s green economy, creating high-quality, high-tech manufacturing jobs. “
Gil C. Quiniones, NYPA president and CEO, said: “The state’s clean energy economy is growing rapidly under the leadership of the governor and Plug Power is taking advantage of the abundant opportunities for green energy companies to expand and flourish in New York. York. Harnessing 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 tackle the climate crisis. “
STAMP is a 1,250-acre mega site located in the center of New York State’s largest population, workforce training and research centers. Connected to the New York high-tech corridor by the New York State Thruway, STAMP has completed all site-level engineering and design and zoning and environmental approvals at all locations to house projects, including semiconductor manufacturing, renewable manufacturing, manufacture of biofarma and other high-capacity industries. The mega site is strategically located in the low-cost hydroelectric zone of the NYPA and will be served by local, high-capacity, 100% renewable and reliable 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 commercial, university and public service partners.
Greater Rochester Enterprise President and CEO Matt Hurlbutt said: “Plug Power plans to establish a hydrogen generation facility at the STAMP mega site in Genesee County because of its unique infrastructure, including low cost clean hydropower. The energy generated this new facility will also support Plug Power’s Giga plant in Rochester, NY. “
About Plug Power
Plug Power is building the hydrogen economy as a leading provider of complete solutions for hydrogen fuel cells. The company’s innovative technology powers electric motors with hydrogen fuel cells amid an ongoing paradigm shift in the energy, energy and transportation sectors 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 e-mobility, more than any other in the world, and has become the largest buyer of liquid hydrogen, having built and operated a hydrogen highway in North America. Plug Power offers a significant value proposition to end customers, including significant environmental benefits, efficiency gains, fast sourcing and lower operating costs. Plug Power’s vertically integrated GenKey solution brings together all the critical elements to provide energy, fuel and service to customers like Amazon, BMW, The Southern Company, Carrefour and Walmart. The company is now leveraging its know-how, modular product architecture and core customers to rapidly expand to other important markets, including zero-emission road vehicles, robotics and data centers. Learn more at www.plugpower.com.
Safe Harbor Statement
This release contains “forward-looking statements”, in accordance with the meaning of the Private Securities Litigation Reform Act of 1995, which involve significant risks and uncertainties about Plug Power Inc. (“PLUG”), including, but not limited to statements about PLUG’s expectations for yours During a year of investment and growth, PLUG’s clean hydrogen technology and fuel cell solutions play a critical role in achieving climate and decarbonisation goals, deepening relations with key stakeholders 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 an accurate indication of the times when, or by which, such performance or results will be achieved. 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 more detailed description of the risks and uncertainties that may cause actual results to differ from those expressed in these forward-looking statements, as well as risks related to PLUG’s business in general, please consult PLUG’s public filings with the Securities and Exchange Commission, including the section ” Risk factors “of the PLUG 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 of this document and PLUG assumes no obligation to update such statements as a result of new information.
Media contact
Ian Martorana
The Bulleit Group
(415) 237-3681
[email protected]
SOURCE: PLUG POWER