Plug Power Inc. (NASDAQ: PLUG), a leading provider of turnkey
hydrogen solutions for the global green hydrogen economy, is
expanding its green hydrogen ecosystem to the west coast with the
construction of a new state-of-the-art production facility in
Fresno County, California. Green hydrogen is produced through the
electrolysis of water with electricity generated from zero-carbon
sources and only harmless oxygen is emitted during the process.
As the largest green hydrogen production facility on the west
coast, the plant will produce 30 metric tons of liquid green
hydrogen daily, serving customers from San Diego to Vancouver. The
facility will use a new 300 megawatt zero-carbon solar farm to
power 120 megawatts of Plug Power’s state-of-the-art PEM
electrolyzers, which split water into hydrogen and oxygen through
an electro-chemical process.
The California plant joins the company’s growing national
network of plants in New York, Tennessee, and Georgia that will
supply 500 tons per day of liquid green hydrogen by 2025, replacing
4.3 million metric tons of carbon dioxide emissions, and 1,000 tons
per day globally by 2028.
When fully built, the network of plants in the U.S. will offer
transportation fuel to customers that is price-competitive with
diesel. Plug Power’s investment in green hydrogen production will
contribute to decarbonizing light-duty vehicles,
freight-transportation, and logistics operations, and supports
California’s leading role in developing hydrogen as a zero-emission
fuel.
The project includes construction of a new tertiary wastewater
treatment plant in the city of Mendota that will provide recycled
water for the people of Mendota and supply the full needs of the
plant.
Pending environmental and construction permitting approvals, the
plant will break ground in early 2023 and complete commissioning in
early 2024.
“Plug Power is fully committed to a green hydrogen future and is
investing heavily in building a green hydrogen ecosystem to support
our customers’ efforts to achieve their sustainability goals,” said
Andy Marsh, CEO for Plug Power. “California is leading the world in
the adoption of green hydrogen and renewable energy. Plug Power is
proud to be a part of that transition and to support the state’s
continued leadership.”“This project showcases what can happen when
market pull, innovation and public policy intersect – privately
financed, large scale, zero-carbon hydrogen transportation fuel
that creates jobs in a key region: Fresno County,” said Dee Dee
Myers, Senior Advisor to Governor Newsom and Director of the
Governor’s Office of Business and Economic Development. “We commend
Plug Power for investing in a clean, sustainable future in
California and beyond.”
“Plug Power has a long-standing commitment to fuel cell
technology. With this project, they are taking an innovative,
sustainable and low-impact approach to provide instate renewable
hydrogen,” said CARB Executive Officer Richard W. Corey. “This will
help support the state’s target of carbon neutrality by 2045 or
sooner, and continue to transition the transportation sector out of
petroleum, including trucks that carry freight and cargo. That will
benefit our most impacted communities including those located near
ports, rail yards, and distribution centers.”
“The project is a huge win for the City of Mendota, and we are
very happy to see this significant investment in clean energy in
our community,” said Mendota Mayor, Rolando Castro. “This
green-hydrogen plant will provide full time high-paying jobs for
our people. The city will also get a new wastewater treatment plant
to provide recycled water for the city and all the needs of the
hydrogen plant.”
“The hydrogen plant will create higher wage job opportunities
for residents and offer the City of Mendota recycled water that can
be used in parks and other areas, relieving the city of additional
groundwater pumping and worsening overdraft,” said Supervisor Brian
Pacheco, District 1.
“Green hydrogen represents the energy of the future and with
this major announcement, Fresno County will soon plant its flag as
the strategic center for California’s hydrogen economy. This
project is poetic justice for our region, which has struggled with
persistent poor air quality, and will produce the zero-emission
fuel needed to support the state’s renewable energy goals. We are
proud to have worked alongside Plug Power representatives, GO-Biz,
the County of Fresno, the City of Mendota and our Westside cities
in supporting the catalytic investments Plug Power’s hydrogen
production facility stands to create.” Lee Ann Eager,
President/CEO, Fresno County Economic Development Corporation
About Plug Power
Plug Power is building the hydrogen economy as the leading
provider of comprehensive hydrogen fuel cell turnkey solutions. The
Company’s innovative technology powers electric motors with
hydrogen fuel cells 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 over 40,000 fuel
cell systems for e-mobility, more than anyone else in the world,
and has become the largest buyer of liquid hydrogen, having built
and operated a hydrogen highway across North America. Plug Power
delivers a significant value proposition to end-customers,
including meaningful environmental benefits, efficiency gains, fast
fueling, and lower operational costs. Plug Power’s
vertically-integrated GenKey solution ties together all critical
elements to power, fuel, and provide service to customers such as
Amazon, BMW, The Southern Company, Carrefour, and Walmart. The
Company is now leveraging its know-how, modular product
architecture and foundational customers to rapidly expand into
other key markets including zero-emission on-road vehicles,
robotics, and data centers. Learn more at www.plugpower.com.
Safe Harbor StatementThis 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 expectations
regarding its multi-year investment and growth, PLUG’s clean
hydrogen technology and fuel cell solutions playing a critical role
in achieving climate and decarbonization goals, deepening of
relationships with key stakeholders, and acceleration of 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 that, or by which, such performance or results will have been
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 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,
including the “Risk Factors” section of PLUG’s Annual Report on
Form 10-K for the year ended December 31, 2019 and 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. 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.
SOURCE: PLUG POWER
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