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04 April
2023
By Ian
Cooper, InvestorPlace Contributor
Plug Announces Record Production of PEM Electrolyzer
Stacks in Q1 2023;
On Track to Meet 100MW per Month Target in
Q2
![](images/Logos/Plug_Power.jpg)
Plug’s Rochester gigafactory produced 122MW of electrolyzer stacks
for customers and Plug’s green hydrogen plants.
Plug shipped nearly 1,000 stacks totaling 5.7MW for specialty
applications.
LATHAM, N.Y., April 04, 2023 (GLOBE NEWSWIRE) -- Plug
Power Inc. (NASDAQ: PLUG), a leading provider of turnkey
hydrogen solutions for the global green hydrogen economy, manufactured
122MW of Plug’s 1MW electrolyzer stack platform in Q1 2023, an
all-time high for the Company and the industry for PEM electrolyzers.
Additionally, Plug shipped nearly 1,000 stacks for specialty
applications, ranging from a few hundred watts to 150kW, totaling
5.7MW. Plug is on track to ramp its 2.5GW gigafactory in Rochester, NY
to 100MW per month in mid-Q2 2023, with plans to further increase
output in Q3 2023.
“Plug is aggressively pursuing every aspect of the green hydrogen
economy, including the expansion of the hydrogen ecosystem and the
establishment of top-tier manufacturing and supply chain
capabilities,” said Plug CEO Andy Marsh. “Plug’s large-scale
manufacturing capabilities at our state-of-the-art facilities in
Rochester and Albany are unrivaled and have helped us to meet the
increasing demand for electrolyzers.”
Electrolyzers are integral to Plug’s green hydrogen ecosystem. Plug’s
PEM stacks enable electrolysis of water using renewable electricity to
split water into green hydrogen and oxygen. Plug offers an
easy-to-deploy containerized electrolyzer solution, with short lead
times to enable decarbonization across multiple applications including
hard to abate industries.
Plug electrolyzers are being deployed globally with companies such as
New Fortress Energy, Uniper and Irving Oil. Additionally, Plug
electrolyzers have been installed at the Company’s green hydrogen
plant in Georgia, and will be deployed at plants under development in
New York, Tennessee, Texas, California, and Belgium. By 2025, Plug
expects to produce 500 tons per day of liquid green hydrogen in the
US, equivalent to 4.3 million metric tons of carbon dioxide emissions.
By 2028, Plug expects to produce 1,000 tons per day of liquid green
hydrogen.
For more information on Plug electrolyzers, visit https://www.plugpower.com/learn-more-about-plugs-electrolyzer-products/.
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 200 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: Plug’s aim to
exceed $400M in electrolyzer sales by the end of 2023. Plug’s plans to
add electrolyzer systems to plants in development in New York,
Tennessee, Texas, California, and Belgium. Plug’s expectation to
produce 500 tons per day of liquid green hydrogen by 2025, which would
prevent 4.3 million metric tons of carbon dioxide emissions in North
America. Plug’s expectation to produce 1,000 tons per day of liquid
green hydrogen by 2028. 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
Caitlin Coffee
Allison+Partners
plugPR@allisonpr.com
Green Play Ammonia™, Yielder® NFuel Energy.
Spokane, Washington. 99212
www.exactrix.com
509 995 1879 cell, Pacific.
exactrix@exactrix.com
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