One of the largest automotive manufacturing facilities in the U.S., spanning more than 6 square miles, using Plug hydrogen and fuel cell solutions
LATHAM, N.Y., Feb. 21, 2024 (Globe Newswire) — Plug Power, Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for a green hydrogen economy, joins leading U.S. automaker We have signed a contract to supply hydrogen. Hydrogen infrastructure and fuel cell solutions to support material handling operations. The over 6 square mile manufacturing campus is dedicated to electric vehicles and batteries, making it one of the largest automotive manufacturing campuses in U.S. history.
The entire material handling fleet on the manufacturing campus, including forklifts and tractors, runs on Plug fuel cells. In addition to the fuel cell fleet, the contract also includes on-site hydrogen infrastructure, including two liquid hydrogen storage tanks and more than 10 hydrogen dispensers to prepare for expanded hydrogen applications.
Andy Marsh, CEO of Plug, said: “This new partnership further strengthens our track record of success in the automotive industry and represents a significant leap forward in driving sustainability in this sector.” “We are excited to enhance this facility with Plug’s state-of-the-art green hydrogen ecosystem and provide solutions that increase operational efficiency while contributing to a more sustainable and environmentally responsible future. ”
Plug’s hydrogen fuel cells can directly replace any battery solution in electric forklifts. By implementing a fuel cell solution, the facility will be able to increase productivity, streamline operations and maximize fleet uptime while reducing greenhouse gas emissions.
In 2024, Plug will undertake the installation and commissioning of the hydrogen infrastructure, preparing the facility for its debut. The facility is expected to be fully operational by the first quarter of 2025, with production being rolled out in carefully planned stages to ensure a smooth and effective ramp-up towards full operation. Masu.
Plug is a committed partner in driving sustainable material handling operations for major automakers, including long-standing collaborations with industry pioneers such as BMW, Daimler, Honda, GM, and Stellantis, with a commitment to environmental responsibility and operational efficiency. I have contributed to this effort.
About the plug
Plug is building an end-to-end green hydrogen ecosystem, from production, storage and distribution to energy generation, to help customers achieve their business goals and decarbonize their economies. In creating the first commercially viable market for hydrogen fuel cell technology, we have installed more than 60,000 fuel cell systems and 180 filling stations, more than any other company in the world. It is the largest purchaser of liquid hydrogen.
Under its plan to operate a green hydrogen highway across North America and Europe, Plug will build a state-of-the-art gigafactory to produce electrolyzers and fuel cells, and deploy multiple green hydrogen plants with the aim of commercial operation by the end of 2028. We are developing a manufacturing plant. The company’s green hydrogen solutions are delivered directly to customers and through joint venture partners in multiple environments including material handling, e-mobility, power generation and industrial applications.
For more information, please visit www.plugpower.com.
Source: Plug Power
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 regarding Plug Power Inc. (“PLUG”) . This includes, but is not limited to, statements regarding: ‘The entire material handling fleet, including forklifts and tractors, runs on his Plug fuel cells. Successfully installed on-site hydrogen infrastructure including two He Plug liquid hydrogen storage tanks and over 10 He Plug hydrogen dispensers. This agreement represents a major step forward in promoting sustainability in the automotive sector. Plug’s solutions increase facility operational efficiency, improve productivity, streamline operations, and maximize fleet uptime while reducing greenhouse gas emissions. Equipment installation and commissioning is scheduled for 2024. Commercial operation of the facility is scheduled for the first quarter of 2025. Such statements are subject to risks and uncertainties that may cause actual performance or results to differ materially from those expressed in these statements. For more information about the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements and risks associated with PLUG’s business generally, please refer to PLUG’s contact with the Securities and Exchange Commission. Public documents, including the “Risk Factors” section of PLUG’s Annual Report on Form 10-K for the year ended December 31, 2022 and subsequent filings with the SEC. You are cautioned not to place undue reliance on forward-looking statements. 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.
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