Plug Power plans to develop clean hydrogen facilities across the US, supplying its national customer base with scaleable, end-to-end clean hydrogen.
Wedoany.com Report-Jan 25, The US Department of Energy (DOE) has announced a $1.66bn loan guarantee to Plug Power’s subsidiary, Plug Power Energy Loan Borrower, to construct up to six clean hydrogen facilities.
The initiative aligns with the Biden-Harris administration’s strategy to bolster a clean energy economy and is part of the Investing in America agenda, ensuring the US remains a leader in the global energy sector.
The loan guarantee, provided through the DOE’s Loan Programs Office (LPO), will facilitate the production of clean hydrogen using Plug Power’s electrolyser technology.
The project forms part of the DOE’s regional clean hydrogen hubs and hydrogen programmes, which aim to boost local economies, create jobs and reduce greenhouse gas emissions, helping the US achieve its net zero goals and improve industrial competitiveness.
Plug Power plans to develop clean hydrogen facilities across the US, supplying its national customer base with scaleable, end-to-end clean hydrogen.
The facilities will use advanced electrolyser stacks, manufactured at its gigafactory in Rochester, NY, featuring modular designs to build a strong hydrogen fuel delivery network.
Proton exchange membrane technology allows efficient operation with variable electricity, leveraging renewable energy sources.
The project aims to build a strong, commercial-scale clean hydrogen fuelling network to support fuel cell-electric vehicles across various sectors.
It is expected to cut greenhouse gas emissions by 84% compared to traditional hydrogen production methods.
The loan guarantee will support between 100 and 200 construction jobs and at least 50 full-time positions per location.
The financing is provided through LPO’s Title 17 Clean Energy Financing Programme, which supports innovative energy projects such as Plug Power.
Plug Power’s hydrogen network has plants in Woodbine, Georgia, in Charleston, Tennessee and in St. Gabriel, Louisiana, and can produce 45 tonnes of liquid hydrogen per day.
