Published by Todd Bush on February 2, 2024
Plug’s total amount of Basic Engineering and Design Package (BEDP) contracts reaches 4.1GW
LATHAM, N.Y., Feb. 02, 2024 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, has signed a contract to deliver a Basic Engineering and Design Package (BEDP) for a 500 megawatt (MW) electrolyzer project in Europe. The contract, signed on January 29, 2024, increases Plug’s total amount of BEDP contracts to 4.1 gigawatts (GW).
>> In Other News: Southern Company Gas subsidiaries in Virginia & Tennessee complete first renewable natural gas purchase
Plug started offering a Basic Engineering Design Package (BEDP) to the market in 2022. The BEDP provides the engineering and plant integration details to allow a full plant front-end engineering design (FEED) study to proceed purposefully and efficiently to understand, in detail, the capital and operating expenditures associated with running a potential plant. The BEDP approach enables Plug’s customers to seamlessly integrate the electrolyzer package into the project’s broader engineering and construction plan. Customers also benefit from Plug’s experiences building its own plants and sharing lessons learned as the only electrolyzer OEM supplier building green hydrogen plants. Plug commissioned the largest 15TPD electrolytic liquid hydrogen production plant, and largest PEM electrolyzer deployment operating in the U.S., in January 2024.
“Plug’s ability to secure BEDP contracts totaling 4.1GW demonstrates that this approach is relevant to the market,” said Andy Marsh, CEO of Plug. “Moreover, Plug’s conversion rate after providing a BEDP is high. We have already been awarded 1.1GW worth of electrolyzer supply, subject to positive FID, and 100MW are in execution for Galp, an oil & gas company in southern Europe.”
To date, no project has been lost by Plug to the competition following a BEDP, evidenced by key customers Galp, Uniper, and Arcadia. Plug capitalizes on 35 years of oil and gas engineering and expertise coming from the Frames acquisition. This is a major benefit for customers developing large electrolyzer plants with limited risks. To learn more about becoming a Plug BEDP customer, contact us at: https://www.plugpower.com/learn-more-about-plugs-electrolyzer-products/.
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.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 💧 Lummus and Advanced Ionics Establish Partnership for Green Hydrogen 🌫️ Capturing Carbon From the Air Just Got Easier 🏗️ Linde to Provide Carbon Capture Technology for Offshore ...
Inside This Issue 🌊 Microsoft Clinches Ocean-based Carbon Removal Deal With Ebb Carbon 🌱 New $5 Million DOE Award Supports KU Startup’s Green Hydrogen Energy Research ⚙️ Energy Vault EVx™ Gravity ...
Inside This Issue 🛠️ BHP, JSW Steel To Explore Use of Carbon Capture Technology in Steelmaking 🏝️ Exxon Mobil’s Landmark Acquisition for Offshore CO2 Capture: A Big Step Toward Carbon Reduction 🚗 ...
Aviva Launches Carbon Removal Fund
The fund aims to provide investors with access to a range of carbon removal projects, at a time when governments are waking up to the scale of work required to meet the goals of the Paris Agreement...
Lummus and Advanced Ionics Establish Partnership for Green Hydrogen
Partnership will advance production of cost-effective and sustainable green hydrogen technology HOUSTON, Nov. 1, 2024 /PRNewswire/ -- Lummus Technology, a global provider of process technologies a...
Capturing Carbon From the Air Just Got Easier
A new type of porous material called a covalent organic framework quickly sucks up carbon dioxide from ambient air Capturing and storing the carbon dioxide humans produce is key to lowering atmosp...
Linde to Provide Carbon Capture Technology for Offshore ADNOC Project
Linde Engineering has signed an agreement with NEXTCHEM to provide carbon capture technology to Abu Dhabi National Oil Company’s (ADNOC) Hail and Ghasha project. Located in the United Arab Emirates...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.