Arcadia eFuels has selected Plug Power Inc. (NASDAQ: PLUG), a comprehensive provider of turnkey hydrogen solutions for the global green hydrogen economy, to provide a 280 MW (megawatt) proton exchange membrane (PEM) electrolyzer system to Arcadia’s Vordingborg plant for the production of sustainable aviation fuel (SAF). Arcadia eFuels CEO Amy Hebert and Plug CEO Andy Marsh held a ceremony commemorating the deal at Plug’s annual Symposium. 

Harnessing Denmark’s plentiful wind power, Arcadia eFuels Vordingborg site will utilize Plug’s electrolyzer technology to produce approximately 120 tons per day (TPD) of green hydrogen. The green hydrogen will then be combined with biogenic CO2 to produce syngas. Further processing of the syngas will generate carbon-neutral sustainable aviation fuel that meets the requirements of RFNBO (Renewable Fuels of Non-Biological Origin) in preparation for the European Mandates on aviation fuel. 

Demand for sustainable aviation fuel is driven by European Commission requirements to supply 70 percent of fuel consumption at EU (European Union) airports by 2050 with the first mandates starting in 2025. 

Arcadia eFuels has commenced a Front-End Engineering and Design (FEED) study to support a Final Investment Decision (FID) and move the project to execution phase, expected by mid-2024. Arcadia eFuels projects a commercial operation date towards the end of 2026. 

“This contract with Arcadia eFuels establishes us as the preferred provider for green hydrogen solutions that decarbonize the hydrocarbon fuel sector,” noted Andy Marsh, CEO of Plug. “We look forward to continuing our partnership with Arcadia eFuels as they pursue plans for rapid growth and expansion.”

“The global demand for eFuels continues to grow, and in order to meet these demands, we must build production plants at commercial scale,” said Amy Hebert, CEO of Arcadia eFuels. “Our partnership with Plug is crucial to ensuring that our commercial facilities will be able produce clean, green, decarbonized fuel for the aviation and logistics verticals.”

For more information about Plug’s electrolyzer products, please visit plugpower.com.

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 60,000 fuel cell systems and over 180 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 year end 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 Arcadia eFuelsArcadia eFuels is committed to building facilities to produce the world’s future fuels. These net-zero carbon fuels will allow the transportation sector, namely aviation and shipping, to use eFuels directly, without changes to existing engines and infrastructure. Arcadia eFuels aims to produce eFuels around the world to help meet the aviation industry’s decarbonization goals. Please visit www.arcadiaefuels.com to learn more or contact us at info@arcadiaefuels.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: Arcadia eFuels Vordingborg site utilizing Plug’s electrolyzers to produce approximately 120 tons per day (TPD) of green hydrogen. The green hydrogen being combined with biogenic CO2 to produce syngas and such syngas being further processed to meet RFNBO standards for aviation fuel. Timing around a Final Investment Decision (FID) and the project moving to execution phase by mid-2024. Commercial operation date projections towards the end of 2026. Plug building multiple green hydrogen production plants that may yield up to 500 tons of liquid green hydrogen daily by year end 2025. 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 CONTACT:

Plug PowerKristin MonroeAllison+PartnersplugPR@allisonpr.com

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