Plug To Deliver Two 30-Tons-Per-Day Hydrogen Liquefaction Systems to TC Energy
10 Januar 2023 - 1:00PM
Plug Power Inc. (NASDAQ: PLUG), a leading provider of turnkey
hydrogen solutions for the global green hydrogen economy, has been
awarded an order to deliver two 30-tons-per-day (TPD) hydrogen
liquefaction systems (also known as hydrogen liquefiers) to TC
Energy Corporation (TSX, NYSE: TRP). These 30TPD hydrogen
liquefaction systems utilize a hydrogen refrigeration cycle and
bring to market one of the most energy efficient designs to date.
Liquid hydrogen has superior energy density than
gaseous hydrogen, making it easier to transport and use in
hard-to-decarbonize sectors. By liquifying hydrogen with Plug’s
highly efficient and reliable liquefaction systems, TC Energy will
achieve significant cost savings, broader distribution coverage and
overall energy efficiency with minimal hardware.
Through the acquisition of Joule Processing
LLC in 2022, Plug gained core competency in liquefaction systems
known for their operational efficiency, flexibility and
reliability. Plug’s hydrogen liquefaction system has one of the
most energy-efficient designs on the market utilizing hydrogen as
the refrigerant in the main liquefaction cycle. This leads to the
most efficient and cost-effective product on the market. In
addition to bringing this system to market, Plug is also utilizing
the systems in its nationwide network of green hydrogen generation
plants including Texas, California and other locations.
“As a global leader in manufacturing reliable
hydrogen liquefiers, Plug is focused on optimizing both capital and
operational efficiency for our customers at every stage of the
hydrogen value chain,” said Andy Marsh, CEO of Plug. “This deal
validates our investment in Plug’s liquefaction capabilities as
part of our vision to build an end-to-end green hydrogen solution.
We share TC Energy’s commitment to providing sustainable and secure
energy, and together we look forward to accelerating the growth of
the hydrogen market.”
“TC Energy is advancing decarbonization
solutions across Canada and the United States,” said Corey Hessen,
TC Energy, executive vice president and president, Power &
Energy Solutions. “Securing long-lead equipment and systems gives
us a head start as we move to finalizing sites for hydrogen
production and distribution hubs.”
The two hydrogen liquefiers are scheduled for
delivery in Q2-Q3 2024 and will serve TC Energy facilities in North
America that are not yet operational.
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 185 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: Whether TC Energy will achieve
significant cost savings, broader distribution coverage and overall
energy efficiency with minimal hardware from the delivery of the
two hydrogen liquefiers. The timing of the plan to deliver the two
hydrogen liquefiers in Q2-Q3 2024 and plans to serve future TC
Energy plants in North America that are not yet in production.
Plug’s plans to build and operate a green hydrogen highway across
North America and Europe, with its state-of-the-art Gigafactory set
to produce electrolyzers and fuel cells, and Plug’s planned
multiple green hydrogen production plants that it expects to yield
500 tons of liquid green hydrogen daily by 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, 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.
About TC Energy
We’re a team of 7,000+ energy problem solvers
working to move, generate and store the energy North America relies
on. Today, we’re taking action to make that energy more sustainable
and more secure. We’re innovating and modernizing to reduce
emissions from our business. And, we’re delivering new energy
solutions – from natural gas and renewables to carbon capture and
hydrogen – to help other businesses and industries decarbonize too.
Along the way, we invest in communities and partner with our
neighbours, customers and governments to build the energy system of
the future.
TC Energy's common shares trade on the Toronto
(TSX) and New York (NYSE) stock exchanges under the symbol TRP. To
learn more, visit us at www.TCEnergy.com.
MEDIA CONTACTS:
Plug
Caitlin CoffeeAllison+PartnersplugPR@allisonpr.com
TC Energy
Media Inquiries:Stone Grissom / Suzanne
Wiltonmedia@tcenergy.com403-920-7859 or 800-608-7859
Investor & Analyst Inquiries:Gavin Wylie /
Hunter Mauinvestor_relations@tcenergy.com403-920-7911 or
800-361-6522
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