Plug Power Hosts Sen. Schumer at Green Hydrogen Plant in New York
02 September 2021 - 4:30AM
Andy Marsh, CEO of Plug Power Inc. (NASDAQ: PLUG), a leading
provider of turnkey hydrogen solutions for the global green
hydrogen economy, welcomed Senate Majority Leader Chuck Schumer on
Wednesday to its green hydrogen production facility and electric
substation under development in the New York Science, Technology
and Advanced Manufacturing Park (STAMP), a 1,250-acre mega-site
located at the center of upstate New York’s largest population,
research, and workforce training hubs.
Schumer, a proponent of hydrogen energy, announced his plans to
push for new jobs and tenants at STAMP and make it a domestic hub
for the clean energy industries and semiconductor industries.
“The support of Sen. Schumer and
Congress plays a key role in helping to bring affordable hydrogen
to the market,” Marsh said. “We appreciate their leadership on the
Infrastructure Investment and Jobs Act, which will help to promote
the production and deployment of green hydrogen.”
Schumer, who has long sought clean
energy solutions, spoke today about the government's role in
promoting the adoption of hydrogen energy and driving down its
costs through research and development to decarbonize the economy.
He said, with the help of Plug Power, the country can jump start
the 21st century hydrogen economy.
Schumer’s visit to STAMP comes as Plug Power builds new
production plants across the U.S. with plans to produce 500 tons
per day of liquid green hydrogen by 2025 and 1,000 tons per day
globally by 2028. Green hydrogen is produced through the
electrolysis of water with electricity generated from zero-carbon
sources and only harmless oxygen is emitted during the process.
As North America’s largest green hydrogen production facility,
the STAMP plant will produce 45 metric tons of green liquid
hydrogen daily servicing the Northeast region. The plant will use
120 megawatts from Plug’s state-of-the-art PEM electrolyzers, which
split water into hydrogen and oxygen through an electrochemical
process, generated using clean New York hydropower.
The Plug plant is supported by a comprehensive state and local
incentive package from the New York Power Authority, Empire State
Development and Genesee County. Marsh and Schumer were joined by
local officials including Genesee County Manager Matt Landers,
Genesee County Legislature Chair Shelley Stein, Genesee County
Legislators Chad Klotzbach and Gordon Dibble, Alabama Town
Supervisor Robert Crossen, and GCEDC President & CEO Steve
Hyde.
GCEDC President & CEO Steve Hyde: "The STAMP site was
designed and is being built to enable the acceleration of new
technologies and advances in manufacturing with our outstanding
renewable energy and talent availability. The commitment by Plug
Power to bring green hydrogen to the market with Project Gateway at
STAMP, and of Senate Majority Leader Schumer to expand the benefits
created by Plug Power and green hydrogen manufacturing, are true
examples of STAMP's vision being implemented to the benefit of
Genesee County, our region and state, and for the future of our
economy and environment."
Plug Power regularly partners with the U.S. Department of Energy
on hydrogen energy development. Sanjay Shrestha, Plug Power’s chief
strategy officer, participated in this week’s Hydrogen Shot
Summit.
About Plug Power Inc. Plug Power is building
the hydrogen economy as the leading provider of comprehensive
hydrogen fuel cell (HFC) turnkey solutions. The Company’s
innovative technology powers electric motors with hydrogen fuel
cells amid an ongoing paradigm shift in the power, energy, and
transportation industries to address climate change and energy
security, while providing efficiency gains and meeting
sustainability goals. Plug Power created the first commercially
viable market for hydrogen fuel cell (HFC) technology. As a result,
the Company has deployed over 40,000 fuel cell systems for
e-mobility, more than anyone else in the world, and has become the
largest buyer of liquid hydrogen, having built and operated a
hydrogen highway across North America. Plug Power delivers a
significant value proposition to end-customers, including
meaningful environmental benefits, efficiency gains, fast fueling,
and lower operational costs. Plug Power’s vertically-integrated
GenKey solution ties together all critical elements to power, fuel,
and provide service to customers such as Amazon, BMW, The Southern
Company, Carrefour, and Walmart. The Company is now leveraging its
know-how, modular product architecture and foundational customers
to rapidly expand into other key markets including zero-emission
on-road vehicles, robotics, and data centers.
Plug Power Safe Harbor StatementThis
communication contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995
that involve significant risks and uncertainties about Plug Power
Inc.("PLUG"), including but not limited to statements about PLUG's
expectations regarding its multi-year investment and growth, PLUG’s
clean hydrogen technology and fuel cell solutions playing a
critical role in achieving climate and decarbonization goals,
deepening of relationships with key stakeholders, and acceleration
of demand and adoption of hydrogen technology. You are cautioned
that such statements should not be read as a guarantee of future
performance or results, and will not necessarily be accurate
indications of the times that, or by which, such performance or
results will have been achieved. Such statements are subject to
risks and uncertainties that could cause actual performance or
results 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 from those
expressed in these forward-looking statements, as well as risks
relating to the business of PLUG in general, see PLUG’s public
filings with the Securities and Exchange Commission, including the
“Risk Factors” section of PLUG’s Annual Report on Form 10-K for the
year ended December 31, 2020. Readers are cautioned not to place
undue reliance on these forward-looking statements. The
forward-looking statements are made as of the date hereof, and PLUG
undertakes no obligation to update such statements as a result of
new information.
Media Contact
Caitlin CoffeeAllison+PartnersplugPR@allisonpr.com
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