Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive
hydrogen solutions for the green hydrogen economy, has been awarded
$10 million by the U.S. Department of Energy (DOE) to demonstrate
next generation hydrogen refueling infrastructure for medium and
heavy-duty vehicles at scale. Plug’s project, HYPER-Fuel (“the
project”), is a liquid-to-gaseous dispensing and cryogenic
dispensing hydrogen refueling station architecture.
This funding is part of the DOE’s $62
million investment in 20 projects across 15 states aimed at
accelerating the deployment of next-generation clean hydrogen
technologies. These initiatives will advance key aspects of
hydrogen fueling infrastructure, demonstrate hydrogen-powered
container-handling equipment for port operations, and enhance
processes critical to the efficient, timely, and equitable
implementation of hydrogen technologies.
In partnership with Washington State University
(WSU), the University of Maryland at College Park, and the National
Renewable Energy Laboratory (NREL), Plug will develop a high-flow,
direct-fill hydrogen fueling station. The dispensing station, based
on Plug’s GenFuel technology, will offer fueling rates exceeding 8
kg/min, a daily capacity of >2 tonnes, and options for both 350
and 700 bar pressurized hydrogen, including forward looking
subcooled liquid and cryo-compressed hydrogen dispensing. The
project aims to address the growing hydrogen infrastructure needs
for on-road heavy-duty vehicles.
"We’re grateful for the Department of Energy's support, which
underscores Plug’s leadership in the hydrogen sector," said Plug
CEO Andy Marsh. "With over 250 high-performance refueling stations
under our belt—more than any other company globally—our proven
expertise positions us uniquely to lead this important commercial
demonstration project."
“This station solves the chicken-or-egg
conundrum holding back the hydrogen economy–with integrated cooling
we can minimize boil-off losses, easing the barrier to adopting
hydrogen fuel for heavy duty applications,” said Jacob Leachman,
who heads up Washington State University’s Hydrogen Properties for
Energy Research (HYPER) Laboratory. “The research and testing
opportunities will significantly advance the field. We couldn’t be
more excited to partner with Plug again on DOE projects.”
As the primary partner, Plug will oversee
engineering, construction, operation, and training. WSU will
leverage its advanced cryogenics lab to develop and optimize
thermofluid models for the station and will act as the end-use
operator. NREL will investigate leakage and sensor technologies,
while the University of Maryland will evaluate safety risks and
reliability. Engineering will be managed by Plug’s team at its
Vista headquarters in Slingerlands, NY, with support from its
Cryogenics R&D facility in Colfax, WA.
This project focuses on demonstrating these
advanced technologies as commercially viable solutions. Rather than
conducting R&D as part of the project, Plug will build a
fueling station in Pullman, Washington that is expected to be
operational in 2026—and could ultimately fuel WSU and community
vehicles. This model of the station could also be replicated in New
York and nationwide to meet growing refueling demands and support
broader adoption of hydrogen fuel cell technology. WSU-Pullman and
the Pacific NorthWest is an ideal location for this project as
there is significant momentum building around the Pacific Northwest
H2 Hub, which Plug is also a partner in, and Washington State’s
zero-emission vehicle mandate by 2035, which the university must
meet.
“This historic federal research funding is
further proof that Plug is leading the world in hydrogen
technology. I couldn’t be prouder that this work is centered, right
here, in Upstate New York,” said U.S. Senate Majority Leader Chuck
Schumer.
“Plug Power is a pioneer in clean energy
innovation, and this grant helps cement the Capital Region’s role
at the forefront of the transition to a green energy economy,” said
Senator Gillibrand. “I’m proud to see the Department of Energy make
this $10 million investment and look forward to continuing to work
with Plug Power to build a green future.”
“Clean hydrogen offers us a chance to secure a
clean energy future, but these opportunities can only be realized
with robust, forward-thinking federal investments,” Congressman
Paul Tonko (NY-20) said. “That’s why I’ve worked hard throughout my
time in Congress to drive investments in clean hydrogen research
and development. I’m thrilled that Plug Power will be playing this
central role in developing our innovation economy, and I’ll
continue to do all I can to support their powerful work and secure
our nation’s leadership in clean energy technologies.”
“Our nation’s clean hydrogen economy is coming
into focus, but there is still important work to do in advancing
the national strategy and underlying technologies,” noted Dr.
Sunita Satyapal, director of the U.S. Department of Energy’s
(DOE’s) Hydrogen and Fuel Cell Technologies Office and coordinator
of the DOE Hydrogen Program. “These selected projects will play a
crucial role in advancing technologies for hydrogen fueling
infrastructure and port operations, and they will complement other
investments by the Biden-Harris administration in clean hydrogen.
The advances achieved by these projects will help grow markets for
clean hydrogen in hard-to-decarbonize sectors of America’s economy,
such as heavy industry and heavy-duty transportation.”
Earlier this year, Plug was selected by the DOE
for a total of nine awards for Clean Hydrogen Electrolysis,
Manufacturing, and Recycling Activities under the Bipartisan
Infrastructure Law. These awards highlight Plug’s industry
leadership and commitment to developing the green hydrogen
economy.
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 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 in Rochester, NY 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.
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 expectation that it will develop a high-flow, direct-fill
hydrogen fueling station in partnership with Washington State
University (WSU), the University of Maryland at College Park, and
the National Renewable Energy Laboratory (NREL) and the parties’
respective roles; Plug’s expectation that the dispensing station
will offer fueling rates exceeding 8 kg/min, a daily capacity of
>2 tonnes, and options for both 350 and 700 bar pressurized
hydrogen, including forward looking subcooled liquid and
cryo-compressed hydrogen dispensing; Plug’s expectation about the
fueling station to be built in Pullman, including timing to become
operational in 2026, its ability to ultimately fuel WSU and
community vehicles, and whether this model of the station could be
replicated in New York and nationwide. 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, Plug’s Quarterly
Reports on Form 10-Q for the quarters ended March 31, 2024 and June
30, 2024 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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