Plug Signs Additional BEDP Contracts for a Total of 4.5GW of Electrolyzers Across Europe and the United States

LATHAM, N.Y., April 25, 2024 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, has signed two additional contracts to deliver Basic Engineering and Design Packages (BEDP) for projects in Europe and the U.S. with a combined capacity of up to 350 megawatts (MW) of electrolyzers. These agreements enhance Plug’s overall BEDP portfolio, bringing the company’s total amount of global BEDP contracts to 4.5 gigawatts (GW).

Since introducing the BEDP offer just two years ago, Plug’s electrolyzer business has experienced continued growth. Earlier this year, Plug finalized a 500MW contract in Europe, and with the addition of this 350MW contract, the company has now closed 850MW of BEDP contracts in just four months. Plug's ability to scale its electrolyzer business demonstrates its expertise in Proton Exchange Membrane (PEM) technology and liquid hydrogen plants, being the sole electrolyzer OEM supplier constructing green hydrogen plants. Plug has commissioned the largest 15TPD electrolytic liquid hydrogen production plant and the largest PEM electrolyzer deployment in the U.S.

'Drawing from over 50 years of experience in our electrolyzer business, our industry expertise stands unrivaled,' said Plug CEO Andy Marsh. 'Within just three years, we've significantly scaled our business and have successfully shipped and deployed electrolyzers across five continents. This rapid expansion is strong evidence of our engineering, manufacturing, and execution capabilities.'

'Electrolyzer sales present a substantial business opportunity for us,' said Plug General Manager of Energy Solutions and Chief Strategy Officer Sanjay Shrestha. 'Our impressive BEDP growth in just two years underscores our strong industry positioning and market growth.'

Capitalizing on its state-of-the-art PEM stack manufacturing facility in Rochester and a global system manufacturing network spanning four continents, Plug is currently delivering and installing electrolyzers in Europe, Middle East, the U.S., India, New Zealand, Korea, Japan, Australia, and Africa. In each region, Plug factors in specific compliance and regulatory requirements.

To date, Plug has already delivered 25 electrolyzer systems to third-party customers. Over the course of 2024, it plans to deliver an additional 40 systems for a cumulated total of 189MW. These systems include containerized electrolyzers of 1MW and 5MW deployed worldwide for various applications such as refineries, industrial processes, and mobility.

On top of that, Plug continues to advance on large scale projects, with the execution of a 100MW electrolyzer supply contract for a European refinery, securing over 1.2GW of projects awarded subject to Final Investment Decision (FID), and progressing with the execution of the remaining 4.5GW of BEDP signed to date.

Currently, 50MW of Plug’s electrolyzers have been put into operations, and by the end of this year, Plug is expected be the largest provider of PEM technology operating in the world.

Plug’s electrolyzer technology delivers high purity hydrogen at an operating pressure of 40bar. The integrated approach for the 1MW and 5MW systems yield rapid installation and commissioning, while maximizing value and reducing risk. To learn more about becoming a Plug BEDP customer, contact us at:

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 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 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.

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 аbout: plans to deliver an additional 40 Electrolyzer systems for a cumulated total of 189 MW over the course of 2024; progressing execution of 4.5GW of BEDP signed to date; Plug becoming the largest provider of PEM technology operating in the world; The integrated approach for the 1MW and 5MW Electrolyzer systems yielding rapid installation and commissioning, while maximizing value and reducing risk; Plug developing multiple green hydrogen production plants targeting commercial operation by year-end 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, 2023 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 Contact
Fatimah Nouilati
Allison
PlugPR@allisonworldwide.com


Plug Signs Additional BEDP Contracts for a Total of 4.5GW of Electrolyzers Across Europe and the United States

THỦ THUẬT HAY

Hướng dẫn nghe nhạc YouTube trên smartphone khi màn hình tắt

Xài smartphone nhiều lúc chúng ta sẽ cần vừa nghe những bản nhạc trên YouTube vừa làm việc khác hay nghe khi màn hình tắt để tiết kiệm pin, nhất là khi nghe nguyên một playlist nhạc.

Cách tạo hình nền đôi trên Android bằng Couple Wallpaper

Couple Wallpaper là ứng dụng tạo hình nền đôi trên thiết bị smartphone Android, đặc biệt dành cho những đôi yêu nhau. Khi đó, hình nền trên điện thoại sẽ ghép thành 1 hình ảnh.

Tổng hợp các tiện ích tùy biến giúp "giả lập" smartphone Android thành iPhone X

Thay vì sử dụng các gói launcher sao chép thiết kế không đầy đủ của iPhone X, TECHRUM xin chia sẻ với các bạn một số tiện ích tùy biến giao diện giúp giả lập iPhone X giống tới 99% dành cho bất kỳ chiếc smartphone

Hướng dẫn tải file torrent cực nhanh bằng Cốc Cốc

Nhắc tới trình duyệt Internet thì không thể bỏ qua Cốc cốc - niềm tự hào của người Việt Nam. Đánh bại Firefox, IE, Safari, và vừa rồi thậm chí còn vượt xa Google Chrome về lượng tìm kiếm. Nếu xem lại quãng đường mà cốc

Thủ thuật giúp chơi Liên Minh Huyền thoại mượt mà trên bất kì máy tính

Liên Minh Huyền Thoại là một tựa game hay nhưng không phải ai cũng có một cấu hình đủ mạnh để chơi. Dưới đây là thủ thuật tăng Fps cho Liên Minh Huyền thoại!

ĐÁNH GIÁ NHANH

So sánh nhanh cấu hình OPPO A83 với các đối thủ khác cùng tầm giá

Những sản phẩm được lựa chọn đế so sánh với OPPO A83 trong bài viết là Zenfone 4 Max Pro và TECNO Camon CX, hai thiết bị cùng có giá bán với OPPO A83 ở mức 4.9 triệu đồng.

Mở hộp và đánh giá nhanh R11 - smartphone cao cấp nhất của OPPO

Không khó lý giải cho sự thành công này khi OPPO R11 và OPPO R11 Plus là những chiếc điện thoại toàn diện về cả thiết kế, hiệu năng, thời lượng pin, camera chính và cả camera selfie.

Trên tay và đánh giá nhanh Gionee S6s: Cứng cáp, sang trọng

Là chiếc điện thoại tầm trung mới nhất từ Gionee, S6s có thiết kế sang trọng, cứng cáp và cấu hình tốt, hứa hẹn mang đến trải nghiệm chất lượng cho người dùng.