Plug Power Marks Historic Moment with First Liquid Hydrogen Shipment to Leading Retailers

Plug Power Inc. (NASDAQ: PLUG), a leading provider of comprehensive hydrogen solutions, announced a major achievement with the successful delivery of liquid green hydrogen from its newly operational production facility in Woodbine, Georgia. The delivery reached prominent customer sites, including retail giants Walmart (NYSE: WMT), Amazon (NASDAQ: AMZN), and Home Depot (NYSE: HD). This milestone comes just one week after the commencement of operations at the Georgia plant, representing a significant stride in the deployment of the largest proton exchange membrane (PEM) electrolyzer in the United States.

The state-of-the-art facility in Georgia is equipped with eight 5-megawatt (MW) electrolyzers, capable of producing up to 15 tons of liquid green hydrogen daily. This substantial output can effectively fuel over 3,200 forklifts on a daily basis. Plug Power's advanced cryogenic trailers played a crucial role in transporting the liquid hydrogen, boasting the capability to carry up to 80,000 pounds per maximum gross vehicle weight. This method of transportation proves more efficient compared to traditional gas tube trailers, further emphasizing Plug Power's commitment to innovation in the hydrogen logistics space.

Andy Marsh, the CEO of Plug Power, hailed this delivery as a critical milestone for the green hydrogen economy, highlighting the company's capacity to scale tangible products and projects. Sanjay Shrestha, General Manager of Energy Solutions and Chief Strategy Officer at Plug, emphasized the significance of this step in delivering cost-effective green hydrogen to customers and validating the company's investment in its production plant network.

Plug Power's operations span beyond hydrogen production to include storage, delivery, and energy generation. The company has firmly established itself in the hydrogen fuel cell technology market, deploying over 60,000 fuel cell systems and establishing more than 180 fueling stations worldwide. As the largest purchaser of liquid hydrogen, Plug Power is actively constructing a Gigafactory dedicated to producing electrolyzers and fuel cells. Additionally, the company is in the process of developing multiple green hydrogen production plants with a target for commercial operation by the end of 2028.

The press release accompanying this announcement included forward-looking statements regarding the company's capabilities and future plans. It acknowledged potential risks and uncertainties that could lead to actual results differing from the projections. These statements were issued as of the press release date, and Plug Power has not committed to updating them in response to new information.

Plug Power's successful delivery of liquid green hydrogen to major retailers underscores the company's commitment to advancing the green hydrogen economy. The strategic utilization of advanced technologies and the rapid deployment of its Georgia facility demonstrate Plug Power's leadership in the hydrogen solutions sector. As the company continues to expand its footprint and invest in innovative projects, it positions itself at the forefront of sustainable energy solutions.