Plug Power and Certarus Partner on Green Hydrogen Supply and
Expansion of Distribution Infrastructure
Plug Power Inc. (NASDAQ: PLUG), a leading provider of turnkey
solutions for the global green hydrogen economy, and Certarus (USA)
Ltd., North America’s leading transporter of compressed natural
gas, have entered into a long-term supply and logistics agreement
to further scale and expand the infrastructure needed to accelerate
the adoption of green hydrogen fuel. The companies will leverage
their collective expertise in hydrogen production, mobile energy
distribution and related technologies to enhance the North American
supply chain – helping to make hydrogen fuel an affordable and
convenient option for companies looking to reduce carbon emissions
and achieve ESG goals across multiple industry sectors.
Plug Power will provide Certarus with up to 10
tons of green hydrogen per day from its North American hydrogen
production network with initial deliveries expected in Q1 2022.
Certarus’ integrated logistics platform and industry-leading fleet
of compressed gas delivery trailers will safely move hydrogen
directly from production locations to Plug Power’s and Certarus’
end users. These end users include leading mining, power
generation, natural gas mid-stream and industrial energy users. The
companies will also partner on the supply of equipment from Plug
Power to cost effectively serve these customers’ needs.
"We are building out a green hydrogen ecosystem,
with the goal to deliver 500 tons per day of green hydrogen by 2025
and 1,000 tons per day by 2028,” said Andy Marsh, CEO of Plug
Power. “The partnership with Certarus is a meaningful step in
building out the green hydrogen ecosystem to serve large energy
sectors and in providing Plug Power the ability to flex and scale
our overall delivery capabilities.”
With Plug Power’s market leadership in green
hydrogen solutions and Certarus’ proven success delivering
low-carbon fuel solutions to mission critical industries and energy
users, this partnership will help alleviate infrastructure
bottlenecks and make cost-effective hydrogen available to more
customers across North America. To further accelerate green
hydrogen’s adoption in energy transition applications, Certarus
will offer hydrogen to its customers as either a pure or
methane-blended fuel.
“We are thrilled to be working with Plug Power
to help scale the logistics supply chain needed for the broad
adoption of green hydrogen. Certarus’ safety record, logistics
network and expertise will help service Plug Power as it continues
to grow. Certarus’ access to Plug Power’s green hydrogen production
will allow us to sell cost-effective green hydrogen to our own
unique customers,” said Curtis Philippon, President and CEO of
Certarus.
ABOUT PLUG POWER
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
technology. As a result, the Company has deployed over 50,000 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, Ikea, 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.
ABOUT CERTARUS
Certarus is the North American leader in
providing low carbon energy solutions through a fully integrated
compressed natural gas (CNG), renewable natural gas (RNG) and
hydrogen platform. The company safely delivers clean burning fuels
to energy, utility, agricultural and industrial customers not
connected to a pipeline. Certarus is leading the energy transition
by displacing more carbon intensive fuels and helping customers
lower operating costs and improve environmental performance. With
the largest fleet of specialty trailers in the world, the company
is uniquely positioned to meet the growing demand for zero emission
fuel distribution. For more information, visit
www.certarus.com.
MEDIA CONTACTS:
Plug Power Caitlin CoffeeAllison +
PartnersplugPR@allisonpr.com
Certarus
Dan BertramVice President Corporate DevelopmentCertarus
Ltd.dbertram@certarus.com
PLUG POWER FORWARD-LOOKING
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
about Plug Power Inc.(“PLUG”), including but not limited to
statements about the expected commercialization of supply and
logistics business opportunities related to hydrogen. 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 and Quarterly
Reports on Form 10-Q for the quarters ended March 31, 2021 and June
30, 2021. 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.
CERTARUS FORWARD-LOOKING STATEMENTS
Certain information contained in this document
constitutes forward-looking statements. By their nature,
forward-looking statements are subject to numerous risks and
uncertainties, some of which are beyond the Corporation's control
including the impact of general economic and market conditions, the
impacts of the COVID-19 pandemic, industry conditions, volatility
of commodity prices, currency fluctuations, environmental risks,
competition from other industry participants, the lack of
availability of qualified service providers, personnel or
management, the ability to access sufficient capital from internal
and external sources, the ability to obtain required consents,
permits or approvals and the risk that actual results will vary
from the results forecasted and such variations may be material.
Readers are cautioned that the assumptions used in the preparation
of such information, although considered reasonable at the time of
preparation may prove to be imprecise and, as such, undue reliance
should not be placed on forward-looking statements. The
Corporation's actual results, performance or achievement could
differ materially from those expressed in or implied by, these
forward-looking statements and, accordingly, no assurance can be
given that any of the events anticipated by the forward-looking
statements will transpire or occur, or if any of them do so, what
benefits the Corporation will derive therefrom.
The forward-looking statements contained in this
document are made as of the date hereof. Certarus disclaims any
intention and assumes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
Additionally, Certarus undertakes no obligation to comment on the
expectations of, or statements made by, third parties in respect of
the matters discussed above.
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