Plug Announces Record Production of PEM Electrolyzer Stacks in Q1 2023; On Track to Meet 100MW per Month Target in Q2
04 Aprile 2023 - 1:00PM
Plug Power Inc. (NASDAQ: PLUG), a leading provider of turnkey
hydrogen solutions for the global green hydrogen economy,
manufactured 122MW of Plug’s 1MW electrolyzer stack platform in Q1
2023, an all-time high for the Company and the industry for PEM
electrolyzers. Additionally, Plug shipped nearly 1,000 stacks for
specialty applications, ranging from a few hundred watts to 150kW,
totaling 5.7MW. Plug is on track to ramp its 2.5GW gigafactory in
Rochester, NY to 100MW per month in mid-Q2 2023, with plans to
further increase output in Q3 2023.
“Plug is aggressively pursuing every aspect of the green
hydrogen economy, including the expansion of the hydrogen ecosystem
and the establishment of top-tier manufacturing and supply chain
capabilities,” said Plug CEO Andy Marsh. “Plug’s large-scale
manufacturing capabilities at our state-of-the-art facilities in
Rochester and Albany are unrivaled and have helped us to meet the
increasing demand for electrolyzers.”
Electrolyzers are integral to Plug’s green hydrogen ecosystem.
Plug’s PEM stacks enable electrolysis of water using renewable
electricity to split water into green hydrogen and oxygen. Plug
offers an easy-to-deploy containerized electrolyzer solution, with
short lead times to enable decarbonization across multiple
applications including hard to abate industries.
Plug electrolyzers are being deployed globally with companies
such as New Fortress Energy, Uniper and Irving Oil. Additionally,
Plug electrolyzers have been installed at the Company’s green
hydrogen plant in Georgia, and will be deployed at plants under
development in New York, Tennessee, Texas, California, and Belgium.
By 2025, Plug expects to produce 500 tons per day of liquid green
hydrogen in the US, equivalent to 4.3 million metric tons of carbon
dioxide emissions. By 2028, Plug expects to produce 1,000 tons per
day of liquid green hydrogen.
For more information on Plug electrolyzers, visit
https://www.plugpower.com/learn-more-about-plugs-electrolyzer-products/.
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 60,000 fuel cell systems and over 200 fueling stations,
more than anyone else in the world, and is the largest buyer of
liquid hydrogen. With plans to build and operate a green hydrogen
highway across North America and Europe, Plug is building a
state-of-the-art Gigafactory to produce electrolyzers and fuel
cells and multiple green hydrogen production plants that will yield
500 tons of liquid green hydrogen daily by 2025. Plug will deliver
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: Plug’s aim to exceed $400M in electrolyzer sales
by the end of 2023. Plug’s plans to add electrolyzer systems to
plants in development in New York, Tennessee, Texas, California,
and Belgium. Plug’s expectation to produce 500 tons per day of
liquid green hydrogen by 2025, which would prevent 4.3 million
metric tons of carbon dioxide emissions in North America. Plug’s
expectation to produce 1,000 tons per day of liquid green hydrogen
by 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.
MEDIA CONTACTCaitlin Coffee
Allison+PartnersplugPR@allisonpr.comSource: PLUG
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