Plug Receives $10 Million DOE Grant to Develop Advanced Hydrogen Fueling Station in Washington State

SLINGERLANDS, NY, Sept. 05, 2024 (GLOBE NEWSWIRE) — Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for a green hydrogen economy, has received $10 million from the U.S. Department of Energy (DOE) to demonstrate next-generation hydrogen fueling infrastructure for medium- and heavy-duty vehicles at scale. Plug’s project, HYPER-Fuel (the “project”), is a hydrogen fueling station architecture with liquid-to-gas and cryogenic dosing.

This funding is part of the DOE $62 million investment in 20 projects in 15 states to accelerate the deployment of next-generation clean hydrogen technologies. These initiatives will develop key aspects of hydrogen fueling infrastructure, demonstrate hydrogen-powered container handling equipment for port operations, and improve processes critical to the efficient, timely, and equitable implementation of hydrogen technologies.

In collaboration with Washington State University (WSU), the University of Maryland at College Park and the National Renewable Energy Laboratory (NREL), Plug will develop a high-flow, direct-fill hydrogen fueling station. The dispensing station, based on Plug’s GenFuel technology, will offer fueling rates exceeding 8 kg/min, daily capacity >2 tons and options for 350 and 700 bar hydrogen, including future refrigerated liquid and cryogenic compressed hydrogen. The project is designed to address the growing need for hydrogen infrastructure for on-highway heavy-duty vehicles.

“We are grateful for the Department of Energy’s support, which underscores Plug’s leadership in the hydrogen sector,” said Plug CEO Andy Marsh. “With more than 250 high-capacity fueling stations—more than any other company in the world—our proven experience uniquely positions us to lead this important commercial demonstration project.”

“This station solves the ‘chicken and egg’ conundrum that has held back the hydrogen economy – with integrated cooling, we can minimize evaporative losses, which lowers the barrier to adopting hydrogen fuel for high-endurance applications,” said Jacob Leachman, who directs the Hydrogen Properties for Energy Research (HYPER) lab at Washington State University. “The research and testing capabilities will greatly advance this field. We couldn’t be more excited to partner with Plug again on DOE projects.”

As the lead partner, Plug will oversee engineering, construction, operations and training. WSU will use its advanced cryogenics lab to develop and optimize thermofluid models for the station and will act as the end operator. NREL will study leak and sensor technologies, while the University of Maryland will assess safety risks and reliability. Engineering will be managed by Plug’s team at Vista’s headquarters in Slingerlands, N.Y., with support from the Cryogenics R&D facility in Colfax, Washington.

This project is focused on demonstrating these advanced technologies as commercially viable solutions. Instead of conducting R&D on the project, Plug will build a fueling station in Pullman, Washington, that is expected to be operational in 2026—and could ultimately power WSU and community vehicles. This station model could also be replicated in New York City and across the country to meet growing demand for fueling and support broader adoption of hydrogen fuel cell technology. WSU-Pullman and the Pacific NorthWest are ideal locations for this project, as significant momentum is building around the Pacific Northwest H2 Hub, in which Plug is also a partner, and Washington is on track to meet its 2035 zero-emission vehicle mandate.

“This historic federal research funding is further proof that Plug is a world leader in hydrogen technology, and I couldn’t be more proud that this work is concentrated here in upstate New York,” said U.S. Senate Majority Leader Chuck Schumer.

“Plug Power is a pioneer in clean energy innovation, and this grant helps solidify the Capital Region’s role at the forefront of the transition to a green energy economy,” said Senator Gillibrand. “I am proud that the Department of Energy has made this $10 million investment and look forward to continuing to work with Plug Power to build a green future.”

“Clean hydrogen gives us the opportunity to secure a clean energy future, but those opportunities can only be realized with solid, forward-looking federal investments,” said Rep. Paul Tonko (NY-20). “That’s why I have worked hard throughout my term in Congress to drive investment in clean hydrogen research and development. I am excited that Plug Power will play this central role in growing our innovation economy, and I will continue to do everything I can to support their powerful work and ensure our nation leads in clean energy technologies.”

“Our nation’s clean hydrogen economy is becoming increasingly visible, but there is still much work to be done to advance the national strategy and the technologies that underpin it,” noted Dr. Sunita Satyapal, Director of the U.S. Department of Energy (DOE) Office of Hydrogen and Fuel Cell Technologies and Coordinator of the DOE Hydrogen Program. “These selected projects will play a critical role in advancing hydrogen fuel infrastructure technologies and port operations, and will complement other clean hydrogen investments by the Biden-Harris Administration. The progress made through these projects will help expand clean hydrogen markets in hard-to-decarbonize sectors of the U.S. economy, such as heavy industry and trucking.”

Earlier this year, Plug was selected by DOE to receive nine awards for its Clean Hydrogen Electrolysis, Manufacturing, and Recycling efforts under the Bipartisan Infrastructure Law. These awards underscore Plug’s industry leadership and commitment to advancing the green hydrogen economy.

About the plugin

Plug is building a comprehensive green hydrogen ecosystem, from production, storage and delivery to power generation, to help its customers realize their business goals and decarbonize their economies. Creating the first commercially viable market for hydrogen fuel cell technology, the company has deployed more than 69,000 fuel cell systems and more than 250 fueling stations, more than anyone else in the world, and is the largest purchaser of liquid hydrogen.

With the goal of enabling a green hydrogen highway across North America and Europe, Plug has built a state-of-the-art Gigafactory in Rochester, New York, to produce electrolyzers and fuel cells, and is developing multiple green hydrogen production facilities with commercial launch planned for late 2028. Plug delivers its green hydrogen solutions directly to its customers and through joint venture partners for multiple environments, including materials handling, e-mobility, power generation and industrial applications.

For more information, please visit www.plugpower.com.

Plug Power Safe Harbor Statement

This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties concerning Plug Power Inc. (“Plug”), including, but not limited to, statements regarding: Plug’s expectation that it will develop a high-flow, direct-fill hydrogen fueling station in collaboration with Washington State University (WSU), the University of Maryland at College Park and the National Renewable Energy Laboratory (NREL) and the parties’ respective roles; Plug’s expectation that the dispensing station will offer fueling rates in excess of 8 kg/min, daily throughput >2 tons and options for hydrogen at 350 and 700 bar pressures, including future dispensing of refrigerated liquid and cryogenically compressed hydrogen; Plug’s expectations regarding the fueling station to be constructed in Pullman, including its 2026 operational date, its ability to ultimately fuel WSU and community vehicles, and whether this station model could be replicated in New York and nationwide. Such statements are subject to risks and uncertainties that could cause actual results or outcomes to differ materially from those expressed in these statements. For a further description of the risks and uncertainties that could cause actual results to differ materially from those expressed in these forward-looking statements, as well as risks related to Plug’s business generally, please refer to Plug’s public filings with the Securities and Exchange Commission (the “SEC”), including the “Risk Factors” section of Plug’s Annual Report on Form 10-K for the year ended December 31, 2023, Plug’s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2024 and June 30, 2024 and any subsequent filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements are made as of the date they are made, and Plug undertakes no obligation to update these statements as a result of new information.

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