Plug Signs MOU with Allied Green Ammonia for 3GW of Electrolyzer Supply at World-Class Green Ammonia Production Facility
May 03 2024 - 7:00AM
Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive
hydrogen solutions for the green hydrogen economy, announced the
signing of a memorandum of understanding (MOU) with Allied Green
Ammonia (AGA), an Australian Company focused on green ammonia
production, to supply up to 3 gigawatts (GW) of Plug electrolyzer
capacity for AGA’s upcoming hydrogen to ammonia facility proposed
for the Northern Territory of Australia.
Following the MOU, Plug and AGA plan to enter an
agreement, as outlined in the MOU, to initiate a Basic Engineering
and Design Package (BEDP) for the 3GW capacity project. The BEDP is
expected to advance mid-May of this year, with final investment
decision (FID) planned for Q4 2025 and the progressive delivery of
the 3GW electrolyzer supply slated to begin in Q1, 2027.
“Ammonia producers have recognized the
substantial advantages of cost and carbon reduction through
electrolysis-based hydrogen,” said Plug CEO Andy Marsh. “We’re
thrilled to sign this MOU and partner with AGA. Our expertise in
constructing and operating large-scale hydrogen production
facilities and our PEM electrolyzer manufacturing capability to
support their 3GW project position us as the ideal partner for this
endeavor.”
Alfred Benedict, Founder & Managing Director
of AGA, said: “Our MOU with Plug builds on a long list of leading
global firms who are joining us on our journey to build one of the
largest green ammonia production facilities in the world, in a
strategically located part of Australia given its proximity to
Asia. This agreement, in light of Plug’s unrivalled expertise and
complementary technologies, is a strong vote of confidence in our
capabilities and a significant milestone in the planned delivery of
Allied Green’s facility, which will be one of the most energy
efficient green hydrogen and green ammonia projects globally. Given
our respective track records in delivering clean energy
infrastructure, this agreement is a critical first step and a
testament to the alignment of our respective visions to provide
tangible solutions that enable the world to achieve net-zero.”
Green hydrogen produced by Plug’s electrolyzers
can help decarbonize the ammonia production process by displacing
Steam Methane Reforming (SMR) techniques. In addition to its
environmental advantages, Plug's pressurized (40 bar) electrolyzer
decreases downstream compression requirements and the extracted
oxygen from electrolysis-based hydrogen can enhance efficiency in
industrial power plants and furnaces due to its high-temperature
combustion capability.
AGA’s production facility will operate a 2500
metric ton-per-day (TPD) green ammonia process. It taps into
abundant renewable energy resources and strong energy
infrastructure, the proposed location Gove Peninsula strategically
aligning with Asia's trading partnerships. The facility is
geographically positioned to meet AGA’s intended customers’ growing
needs, providing them with a reliable and secure supply of green
ammonia from the region.
Plug is the leading manufacturer of PEM
electrolyzers and currently operates the largest PEM electrolyzer
deployment in the United States at its 15 TPD Georgia Hydrogen
plant. This announcement follows Plug’s recently announced BEDP
contracts totaling 4.5 GW across the United States and Europe.
Plug’s electrolyzers use electricity to produce
hydrogen from water molecules in a process called electrolysis. The
only byproduct in this process is oxygen, compared to traditional
steam-methane reformation (SMR), which splits out hydrogen from
natural gas and yields significant greenhouse gas emissions.
To learn more about becoming a Plug BEDP
customer, contacts us at:
https://www.plugpower.com/learn-more-about-plugs-electrolyzer-products/
About PlugPlug 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 69,000 fuel cell systems and over
250 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.
About Allied Green
AmmoniaAllied Green Ammonia is an Australian based company
with deep and proven in-house experience in building green ammonia
capacity and other clean energy projects globally. We are
partnering with the world’s leading technology and materials
providers to design, develop, construct and operate one of the
world’s largest and most efficient green ammonia production
facilities.
Allied Green Ammonia is positioning itself as a
global industry leader in clean energy infrastructure and is
rapidly advancing the development of its flagship green ammonia
plant proposed for construction on the Gove peninsula in
Australia’s Northern Territory.
AGA deeply values the substantial support of,
and its relationships with, its industry partners, the Northern
Territory and Australian Governments and the Aboriginal and/or
Torres Strait Islander peoples, and in consultation with the Gumatj
Corporation. We look forward to delivering this critical piece of
infrastructure that is expected to create thousands of local jobs
while avoiding the release of millions of tonnes of carbon dioxide
into the atmosphere and provide global industry with sustainable,
clean and affordable fuels.
For more information, visit www.alliedgreen.com.au.
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 ability to negotiate
mutually agreeable BEDP terms with AGA; Plug’s ability to complete
the BEDP by anticipated date; AGA’s Nhulunbuy, Grove Peninsula
green ammonia project to reach FID; Plug’s ability to deliver its
products per the projected schedule; Plug’s ability to
maintain its expertise in constructing and operating large-scale
hydrogen production facilities; Plug’s ability to utilize its PEM
electrolyzer manufacturing capabilities; and the ability of Plug’s
PEM electrolyzer product to decrease downstream compression
requirements and/or enhance efficiency in industrial power plants
and furnaces. 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, 2023 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.
Plug Media ContactFatimah
NouilatiAllisonPlugPR@allisonworldwide.com
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