Reported 28 days ago
Plug Power Inc. has obtained a $1.66 billion conditional loan guarantee from the U.S. Department of Energy to establish up to six green hydrogen plants, starting in Texas. This funding significantly reduces financial risk and accelerates infrastructure development for the clean energy leader, which specializes in hydrogen fuel cells and electrolyzer systems. In addition, Plug Power extended a strategic hydrogen supply agreement with a major partner through 2030, ensuring a stable hydrogen supply. The company's goal is to produce 500 tons of green hydrogen daily in North America by 2025, aiming for a global target of 1,000 tons by 2028.
Source: YAHOO