Skip to content

Plug Celebrates Completion of World-Class Gasoline Cell

Growth of Plug’s Gasoline Cell Manufacturing Will Deliver 1,600 New Jobs to
New York State over 5 Years

Plug Broke Floor on Campus in March 2022 and Achieved Web site
Commissioning Simply 9 Months Later

LATHAM, NY, Jan. 12, 2023 (GLOBE NEWSWIRE) — Plug Energy Inc. (NASDAQ: PLUG), a number one supplier of turnkey hydrogen options for the worldwide inexperienced hydrogen economic system, welcomed company on Thursday to Vista Expertise Park, its new 407,000 sq. foot gasoline cell manufacturing facility in Slingerlands, NY, for a ribbon chopping ceremony alongside US Senate Majority Chief Charles E. Schumer and New York State Governor Kathy Hochul.

The Vista Expertise Park facility will enhance the economic system by creating greater than 1,600 new jobs within the New York State Capital Area inside the subsequent 5 years. Plug presently employs 1,472 folks in New York, making up practically half of its 2,957 whole US workers. The corporate expects to create round 4,000 new jobs globally by the top of the yr. Plug applauds the pace to fee this website. The Firm broke floor in March of 2022 and started manufacturing at business scale simply 9 months later.

Plug’s new world-class manufacturing and repair facility in Albany County will contribute to the state’s clear renewable power objectives and create good-paying inexperienced collar jobs within the twenty first century clear power economic system. Key provisions of the Inflation Discount Act, similar to the brand new Clear Hydrogen Manufacturing Tax Credit score, may even assist obtain substantial decarbonization and foster the mixing of unpolluted hydrogen made by Plug in New York State in a variety of functions, similar to Plug’s zero- emissions gasoline cells.

The Plug Vista manufacturing facility options superior automation, permitting for significantly elevated scale and effectivity within the meeting of Plug’s gasoline cell methods that energy electrical motors for the mobility market. The Vista facility, which started manufacturing Plug’s GenDrive models in November 2022, can be totally operational by March 2023, and can produce Plug’s total gasoline cell product line together with GenDrive, Stationary, and ProGen.

Plug’s funding within the new manufacturing facility was supported by $45 million in Inexperienced Excelsior Jobs Tax Credit from Empire State Growth, a $5 million grant from Albany County, and a $500,000 infrastructure grant from Nationwide Grid.

“Plug is honored to host Sen. Schumer, Governor Hochul, and different advocates of inexperienced hydrogen at our Vista Expertise Park in our house state of New York,” stated Andy Marsh, CEO of Plug. “Sen. Schumer was instrumental within the passage of the Inflation Discount Act, which prolonged the Funding Tax Credit score for gasoline cells and enabled Plug’s improvement of the primary commercially viable marketplace for hydrogen gasoline cell expertise. This thrilling growth of Plug’s gasoline cell manufacturing at Vista is crucial for us to fulfill rising demand from our prospects, similar to Amazon, Residence Depot, Walmart, and others.”

On the occasion, Marsh, Senator Schumer, and Governor Hochul had been joined by Albany County Govt Daniel P. McCoy and digitally by US Consultant Paul Tonko, who offered remarks on Plug and inexperienced hydrogen’s function in attaining our local weather and clear power coverage targets.

“1,600 new, good-paying, inexperienced power jobs are about to energy Plug’s future within the Capital Area. Nearly precisely seven years in the past, I stood on the manufacturing facility ground of Plug Energy’s Latham facility, and CEO Andy Marsh promised me that if I may ship the incentives they wanted just like the Funding Tax Credit score, that we’d be chopping ribbons for NY jobs within the decade—and at present a promise made turns into a promise saved,” stated Sen. Charles Schumer. “Again then, Plug had 227 workers regionally, at present there are over 1,100 and the corporate has dedicated to an extra 1,600 over the subsequent 5 years! I applaud Plug for this main funding that can cement the Capital Area’s place as a worldwide hub for innovation in clear power. With the historic investments we simply made within the Inflation Discount Act and Bipartisan Infrastructure Legislation to spark the hydrogen gasoline cell trade, at present’s new manufacturing facility comes on the good time to energy America’s battle in opposition to local weather change and new federal incentives place Plug to create much more New York jobs for years to come back constructing the 21st century inexperienced hydrogen economic system.”

“New York’s funding in Plug Energy is an funding in New York’s sustainable future,” Governor Hochul stated. “Plug Energy is creating good, inexperienced jobs within the Capital Area and past, and helps our efforts for a cleaner, greener future for generations to come back.”

“I’ve all the time been impressed with Plug’s imaginative and prescient for, and dedication to international clear power transition,” stated Congressman Paul Tonko. “Right now, hydrogen is the most well liked power situation in DC, and this may not have been doable with out all of the success achieved by the crew at Plug. The IRA goes to supply the long-term certainty required to kick this trade into overdrive.”

About Plug
Plug is constructing an end-to-end inexperienced hydrogen ecosystem, from manufacturing, storage and supply to power era, to assist its prospects meet their enterprise objectives and decarbonize the economic system. In creating the primary commercially viable marketplace for hydrogen gasoline cell expertise, the corporate has deployed greater than 60,000 gasoline cell methods and over 185 fueling stations, greater than anybody else on the earth, and is the biggest purchaser of liquid hydrogen. Plug is constructing and working a inexperienced hydrogen freeway throughout North America and Europe, with a state-of-the-art Gigafactory to supply electrolyzers and gasoline cells and a number of inexperienced hydrogen manufacturing crops that can yield 500 tons of liquid inexperienced hydrogen each day by 2025. Plug will ship its inexperienced hydrogen options on to its prospects and thru three way partnership companions into a number of environments, together with materials dealing with, e-mobility, energy era, and industrial functions. For extra info, go to www.plugpower.com.

Secure Harbor Assertion

This communication incorporates “forward-looking statements” inside the which means of the Personal Securities Litigation Reform Act of 1995 that includes vital dangers and uncertainties about Plug Energy Inc. Plug’s plans to construct and function a inexperienced hydrogen freeway throughout North America and Europe, with its state-of-the-art Gigafactory set to supply electrolyzers and gasoline cells, and Plug’s deliberate a number of inexperienced hydrogen manufacturing crops that it expects to yield 500 tons of liquid inexperienced hydrogen each day by 2025. Such statements are topic to dangers and uncertainties that would trigger precise efficiency or outcomes to vary materially from these expressed in these statements. For an extra description of the dangers and uncertainties that would trigger precise outcomes to vary from these expressed in these forward-looking statements, in addition to dangers regarding the enterprise of PLUG basically, see PLUG’s public filings with the Securities and Alternate Fee ( the “SEC”), together with the “Danger Elements” part of PLUG’s Annual Report on Kind 10-Ok for the yr ended December 31, 2021 and any subsequent filings with the SEC. Readers are cautioned to not 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 replace such statements on account of new info.

MEDIA CONTACT

Caitlin Espresso
Allison+Companions
plugPR@allisonpr.com

.

Leave a Reply

Your email address will not be published. Required fields are marked *