LATHAM, N.Y., Oct. 16, 2023 (GLOBE NEWSWIRE) — Today, Plug Power Inc. (NASDAQ: PLUG) CEO Andy Marsh joins several U.S. government officials and West Virginia stakeholders to commemorate the Department of Energy’s selection of the Appalachian Regional Clean Hydrogen Hub (ARCH2) for the Regional Clean Hydrogen Hubs program enacted under the bi-partisan infrastructure law. The ARCH2 Hub includes the states of West Virginia, Ohio, Pennsylvania, and Kentucky, as well as prime applicants Allegheny Science & Technology, Battelle, EQT Corporation, and GTI Energy. Plug will play a substantial role in ARCH2 Hub, serving as a project partner, vendor, and provider of essential services throughout the hydrogen value chain.
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The commemoration of the winning ARCH2 Hub is being held at a press conference today in Morgantown, WV at the National Energy Technology Laboratory, with U.S. Sens. Joe Manchin and Shelley Moore Capito, U.S. Secretary of Energy Jennifer Granholm, U.S. Department of Energy Under Secretary for Infrastructure David Crane, White House Coordinator for the Infrastructure Investment and Jobs Act Mitchell Landrieu, Marshall University President Brad Smith, West Virginia University President Gordon Gee, Monongalia County Commissioner Tom Bloom, EQT CEO Toby Rice, and Battelle CEO Lou Von Thaer.
“The federal hydrogen hub program can accelerate the clean hydrogen economy and the development of the hydrogen infrastructure to support our nation’s clean energy future,” says Plug CEO Andy Marsh. “Hydrogen hub funding, coupled with pragmatic implementation of the Inflation Reduction Act’s Clean Hydrogen Production Tax Credit, can solidify the United States’ climate leadership, accelerate the national clean hydrogen economy, and build upon Plug’s ongoing deployment of end-to-end green hydrogen solutions across the country. We thank Sen. Joe Manchin, Sen. Shelley Moore Capito, and WV Governor Jim Justice for providing instrumental leadership and championing the ARCH2 Hub. Plug is grateful for the Department of Energy’s selection of this consortium and for the Appalachian region’s efforts in developing one of the nation’s foremost hubs for hydrogen solutions.”
The Regional Clean Hydrogen Hub program aims to facilitate the development of a national clean hydrogen network of hydrogen producers, consumers, and connective infrastructure. ARCH2 aims to create more than 21,000 jobs, including more than 18,000 in construction and 3,000 permanent jobs in the Appalachian region.
About Plug
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 build and operate a green hydrogen highway across North America and Europe, Plug is operating a state-of-the-art Gigafactory to produce electrolyzers and fuel cells, and is developing multiple green hydrogen production plants targeting 500 tons of liquid green hydrogen daily by year end 2025. Plug will deliver 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.
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 about Plug Power Inc. (“PLUG”), including but not limited to statements about: The role Plug may play in the ARCH2 Hub, serving as project partner, vendor, and provider of essential services. The federal hydrogen hub program accelerating the clean hydrogen economy and the development of the hydrogen infrastructure. The Regional Clean Hydrogen Hub program intent to facilitate the development of a national clean hydrogen network of hydrogen producers, consumers, and connective infrastructure. ARCH2’s projected plan to create more than 21,000 jobs, including more than 18,000 in construction and 3,000 permanent jobs in the Appalachian region. Plug’s involvement helping to build upon Plug’s ongoing deployment of end-to-end green hydrogen solutions across the country. Plug commissioning multiple green hydrogen production plants that may yield 500 tons of liquid green hydrogen daily by year end 2025. 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 (the “SEC”), including the “Risk Factors” section of PLUG’s Annual Report on Form 10-K for the year ended December 31, 2022 and any subsequent filings with the SEC. 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.
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