Plug Power Inc. (NASDAQ: PLUG), a leading provider of turnkey
hydrogen solutions for the global green hydrogen economy, will
build a 35-tons-per-day green hydrogen generation plant at Port of
Antwerp-Bruges in the heart of Europe.
Plug signed a 30-year concession agreement to build the plant at
the Belgian port, the second largest in Europe. Plug plans to erect
a 100-megawatt green hydrogen plant, using its own electrolyzer and
liquefaction technology, on 28 acres of land leased under the
agreement. Plug will produce up to 12,500 tons per year of liquid
and gaseous green hydrogen for the European market.
Construction of the plant will begin upon completion of the
permitting process, anticipated in late 2023. Initial production of
green hydrogen is expected in late 2024, and plant commissioning
will be in 2025.
“As Europe grapples with the challenges of climate change and
energy security, our agreement with Port of Antwerp-Bruges will
deliver much-needed natively generated, green hydrogen to local
markets,” said Andy Marsh, CEO of Plug. “The energy crisis in
Europe resulting from geopolitical risks has accelerated the demand
for green hydrogen development projects.”
Minister-President of Flanders Jan Jambon noted: "Hydrogen plays
an important role in the energy transition and at the same time
offers many economic and societal opportunities for Flanders. Due
to the strategic location of our ports and the expertise of our
companies, research centers and educational institutions, we have
all the assets to become the hydrogen hub of Western Europe. An
opportunity that we must not miss. Plug's choice for Antwerp is the
result of the strong relationship that I, the Flemish Government,
Flanders Investment & Trade, and the Port have built with the
company. At the same time, it confirms the role that Flanders plays
in renewable energy. I am therefore very pleased to welcome Plug in
Flanders."
Belgium’s Minister of Energy Tinne Van der Straeten said:
“Belgium is determined to play a pioneering role in the
breakthrough of large-scale green hydrogen. It is an objective that
is well reflected in the federal hydrogen vision and
strategy ‘Green hydrogen for a clean industry.’ That strategy
is built on four pillars: positioning Belgium as an import and
transit hub in Europe, becoming a leader in hydrogen, establishing
a robust hydrogen market and investing in cooperation as a key
success factor. Companies like Plug, who integrate their activities
into our federal strategy, are the best example that we are moving
in the right direction. This way, we can achieve our climate goals
to reduce greenhouse gasses by 55% in 2030 and become the first
climate neutral continent by 2050. This will be a strategy that
pays off for Belgium, for employment and for the climate.”
Jacques Vandermeiren, CEO Port of Antwerp-Bruges, added: "The
signing of Plug Power is a confirmation of the attractiveness of
our port and NextGen District. Their project is exactly what we
have in mind when it comes to circular economy. We are giving
hydrogen every opportunity as an energy carrier and fuel and are
therefore committing ourselves as an active pioneer in the hydrogen
economy. I thank Plug Power for its trust and all parties
involved."
A hydrogen hub of the future
Port of Antwerp-Bruges sits in a strategic location in Europe.
At the center of the largest chemical industry cluster in Europe
and close to the North Sea, it provides transportation connections
to Germany, Belgium, Netherlands, U.K., and France. It is less than
an hour’s drive to Brussels, the capital of Europe.
The port area is also one of the busiest logistics areas in
Europe, handling annually 289 million tons of maritime freight, 24
million tons of rail freight, and 108.5 million tons of barge
freight. Sixty percent of Europe’s purchasing power is located
within 300 miles.
Port of Antwerp-Bruges, set to become a major hydrogen hub for
Europe, has plans to be a lighthouse port for climate-neutral
infrastructure. Through its new green hydrogen plant, Plug is
committed to playing a pivotal role in helping Port of
Antwerp-Bruges achieve this ambition.
Ideal site for generation of hydrogen
The site location provides the opportunity for a ready supply of
electricity from on-site and site-adjacent wind turbines generating
dozens of megawatts, with an electric interconnection point less
than a mile away. In addition, the site offers water, road, rail,
and pipeline access for the delivery of green hydrogen to
customers. An open-access hydrogen pipeline will be built along the
site, and Plug has signed a contract with Fluxys to engage in a
feasibility study for enabling a connection to the pipeline, which
will be part of a European open-access hydrogen backbone.
Plug will build in the port’s NextGen District, an area
dedicated to companies supporting the circular economy. Leveraging
the cluster being assembled in the NextGen district, Plug is
exploring partnerships to complete the circular use of wastewater
expelled during the production of green hydrogen.
The hydrogen produced at the site will serve multiple
clients at the port
More than 1,500 acres of covered warehousing at Port of
Antwerp-Bruges supports heavy manufacturing industries. Plug will
contribute to decarbonizing the logistics flows of the port, with
material handling solutions, fuel cell vans through HYVIA – a joint
venture between Plug and Renault, and stationary power solutions
for shore power.
North Sea countries are major producers of wind power with over
15 gigawatts (GW) of installed capacity. They have committed to
grow capacity to 65 GW by 2030 and 150 GW by 2050, as part of a
recent cooperation agreement signed by Belgium, Germany, Denmark,
and the Netherlands. The European Union recently launched a $315
billion REPowerEU initiative to support the shift from Russian
fossil fuels to renewable energy including green hydrogen.
Trans-Atlantic Partnership Drove Agreement
The announcement of this project illustrates the strength of
trans-Atlantic cooperation between a leading international
technology company and a forward-thinking European port operator.
Plug is building out an end-to-end green hydrogen ecosystem across
the world, focused on hub locations with attractive economics and
strong customer demand. Europe is core to Plug’s strategy,
reflected in multiple recent investments, such as the opening of a
service and logistics center in Duisburg, Germany, the acquisition
of Netherlands-based Frames Group, and the inauguration of a
hydrogen-powered light commercial vehicle production plant with
Renault in Flins, France.
“Plug is already one of the largest investors in the European
hydrogen economy, and one of the largest employers in Europe among
the hydrogen pure players. Our investment in a green hydrogen
production plant in the heart of Europe deepens our commitment to
the European market,” added Marsh. “Europe is determined to shift
from foreign sources of fossil fuel energy to local sources of
green energy, and we are helping to deliver on their vision.”
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 50,000 fuel cell systems and over 165 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.
About Port of Antwerp-BrugesWith an overall
throughput of 289 million tons per year, Port of Antwerp-Bruges is
a critical hub in worldwide trade and industry. The port is a
crucial link for the handling of containers, breakbulk and for the
throughput of vehicles. Port of Antwerp-Bruges is home to 1,400
companies and accommodates the largest integrated chemical cluster
in Europe. The port provides, directly and indirectly, a total of
around 164,000 jobs and generates an added value of 21 billion
euros. The ambition for Port of Antwerp-Bruges is clear - to
become the world's first port that reconciles economy, people and
climate. As well as growing in a sustainable way, the Port also
aims to focus on its unique position as a logistics, maritime and
industrial centre and to take the lead in the transition to a
circular and low-carbon economy. Together with the port community,
customers and other partners, Port of Antwerp-Bruges is actively
seeking innovative solutions for a sustainable future. High on the
agenda is its responsibility for the environment and the
surrounding society.
The port sites of Antwerp-Bruges and Zeebrugge are operated by
the Antwerp-Bruges Port Authority, a limited liability company of
public law with the City of Antwerp and the City of Bruges as its
shareholders. The port employs 1,800 people. Vice-Mayor of Antwerp
Annick De Ridder is President of the Board of Directors, the Mayor
of Bruges Dirk De fauw is the Vice-President. Jacques Vandermeiren
is CEO and President of the Executive Committee, which is
responsible for the port’s day-to-day management.
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 plan to build 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,
building a state-of-the-art Gigafactory to produce electrolyzers
and fuel cells and multiple green hydrogen production plants that
may yield 500 tons of liquid green hydrogen daily by 2025; PLUG’s
plans to build and operate a 100MW green hydrogen plant in the
NextGen District of the Port of Antwerp-Bruges with the expected
daily hydrogen production capacity of up to 35 tons per day,
equating to 12,500 tons per year of liquid and gaseous green
hydrogen for the European market, including the timing thereof with
the plant set for commissioning by 2025; the potential for
decarbonizing the logistics flows of the Port of Antwerp-Bruges,
with material handling solutions, fuel cell vans through HYVIA, and
stationary power solutions for shore power; and the commitment by
North Sea Countries to grow capacity of wind power to 65 GW by 2030
and 150 GW by 2050, as part of a recent cooperation agreement
signed by Belgium, Germany, Denmark, and the Netherland. 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, 2021 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 CONTACTS:
Plug Power Caitlin
Coffee Allison+PartnersplugPR@allisonpr.com
Port of
Antwerp-Brugespress@portofantwerpbruges.com+32 492 15 41
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