PLUN Plug Power Inc

Plug Power to Supply Two 5 MW PEM Electrolyzers for Australian Green Hydrogen Projects
Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, has been selected to supply two 5-megawatt (MW) proton exchange membrane (PEM) electrolyzer systems for green hydrogen projects in Tasmania, Australia, under development by Countrywide Hydrogen Pty Ltd, a wholly-owned subsidiary of ReNu Energy Limited (ReNu Energy) (ASX:RNE).

Plug’s electrolyzer systems, which were selected by Countrywide Hydrogen, will be installed at planned production facilities in Brighton near Hobart and Western Junction near Launceston. The 4,200 kg/day of hydrogen produced at these two sites will be used to decarbonize road transport and natural gas sectors in Tasmania.

“Plug is pleased to support Countrywide Hydrogen with its ambitious green hydrogen projects in the state of Tasmania,” said Plug CEO Andy Marsh. “The plants are strategically located to leverage existing infrastructure, and Plug’s PEM electrolyzer systems are a perfect complement to the plant designs.”

The hydrogen will be produced via electrolysis with renewable power planned to be initially sourced from the state grid, with subsequent supply from behind-the-meter solar and power purchase agreements from wind, solar and hydropower operators. The water will be supplied from TasWater’s network.

The design includes a second electrolyzer at each site to meet increased hydrogen demand. It ensures a secure supply by implementing electrolyzer redundancy and use of tube trailers for hydrogen storage. The storage system ensures that the sites can support one another in the event of unexpected outages. The sites will include connections to the TasGas network, allowing injection of hydrogen into the network as well as supply to local industry.

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 operating a state-of-the-art Gigafactory to produce electrolyzers and fuel cells, and is commissioning 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.

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 electrolyzer systems being installed at planned production facilities in Brighton near Hobart and Western Junction near Launceston; Plug’s electrolyzer systems being able to produce a combined 4,200kg/day of hydrogen between the two sites; the intended use to decarbonize road transport and natural gas sectors in Tasmania; The planned renewable power to be sourced from the state grid, and subsequent supply from behind-the-meter solar and power purchase agreements from wind, solar, and hydropower operators. Water being supplied from TasWater’s network; The proposed design to include a second electrolyzer at each site to implement electrolyzer redundancy, with proposed use of tube trailers for hydrogen storage; The proposed connections to the TasGas network, allowing injection of hydrogen into the network as well as supply to local industry; Plug’s plans to build and operate a green hydrogen highway across North America and Europe, that may yield 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

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