Plug Closes Loan Guarantee from the U.S. Department of Energy

Core Insights - Plug Power Inc. has secured a $1.66 billion loan guarantee from the U.S. Department of Energy to support the construction of hydrogen production facilities [1][2] - The loan will finance the development of up to six projects aimed at producing and liquefying zero- or low-carbon hydrogen across the United States, starting with a plant in Graham, Texas [2][3] - The initiative is expected to create hundreds of high-quality jobs and enhance the resilience of the U.S. energy grid while aligning with national security interests [2][3] Company Overview - Plug Power is a leader in the hydrogen solutions sector, having deployed over 69,000 fuel cell systems and more than 250 fueling stations globally, making it the largest buyer of liquid hydrogen [5] - The company is building a comprehensive green hydrogen ecosystem that includes production, storage, delivery, and energy generation [5][6] - Plug Power is developing multiple green hydrogen production plants with a goal for commercial operation by the end of 2028, alongside plans for a green hydrogen highway across North America and Europe [6] Industry Context - The hydrogen economy is seen as a crucial factor in enhancing America's energy independence and securing U.S. leadership in clean energy innovation [3] - The current hydrogen generation network operated by Plug Power has a liquid hydrogen production capacity of approximately 45 tons per day [4]