Plug Finalizes Contract to Support A Major U.S. Automobile Manufacturer’s Material Handling Operations

One of the largest automotive manufacturing facilities in the U.S., spanning over 6 square miles, to run on 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 the green hydrogen economy, has finalized a contract to supply a major U.S. automobile manufacturer with hydrogen infrastructure and fuel cell solutions that will support material handling operations. The manufacturing campus of over 6 square miles is dedicated to electric vehicles, batteries and is one of the largest auto manufacturing campuses in U.S. history.

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The manufacturing campus’s entire material handling fleet, including forklifts and tuggers, will run on Plug fuel cells. In addition to the fuel cell fleet, the agreement includes on-site hydrogen infrastructure, including two liquid hydrogen storage tanks and over 10 hydrogen dispensers to prepare for the expansion of hydrogen applications.

"This new partnership further strengthens our track record of success in the automotive industry, marking a significant leap in promoting sustainability within the sector," stated Andy Marsh, CEO of Plug. "We are excited to elevate this facility with Plug's state-of-the-art green hydrogen ecosystem, offering solutions that enhance operational efficiency while contributing to a more sustainable and environmentally responsible future."

Plug’s hydrogen fuel cells are a direct replacement for any battery solution in electric forklifts. By implementing fuel cell solutions, this facility will be able to drive productivity, streamline operations and maximize fleet uptime, all while reducing greenhouse gas emissions.

In 2024, Plug will undertake the installation and commissioning of the hydrogen infrastructure, setting the stage for the facility's debut. This facility is expected to become fully operational by the first quarter of 2025, with production rolling out in carefully planned phases to ensure a smooth and effective ramp-up to full operations.

Plug has been a steadfast partner in advancing sustainable material handling operations for leading car manufacturers, including long standing collaborations with industry pioneers like BMW, Daimler, Honda, GM and Stellantis contributing to their commitment to environmental responsibility and operational efficiency.

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 60,000 fuel cell systems and over 180 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.

SOURCE: PLUG POWER