DOE Grants $1.66B Loan Guarantee for Plug Power’s Green Hydrogen Facilities

Plug Power obtained a conditional commitment from the DOE’s Loan Programs Office for an up to $1.66 billion loan guarantee, which will finance the development, construction, and ownership of up to six green hydrogen production facilities. These facilities will be built across the United States to supply Plug Power’s existing customers and other major companies with low-carbon green hydrogen. Hydrogen produced at these facilities will be used for applications in the material handling, transportation, and industrial markets.

“Green hydrogen is an essential driver of industrial decarbonization in the United States,” said Andy Marsh, Plug Power CEO. “Earlier this year, Plug successfully demonstrated our innovation and technical ability by launching the first commercial-scale green hydrogen plant in the country in Woodbine, Georgia. This loan guarantee will help us build on that success with additional green hydrogen plants.”

The company’s green hydrogen production plants use proprietary electrolyzer stacks manufactured at its gigafactory in Rochester, NY, and the plants’ liquefaction and hydrogen storage systems are engineered at Plug Power’s facility in Houston, TX.

“We appreciate the partnership with the DOE Loan Programs Office and are pleased to have worked through an intensive due diligence process,” said Marsh. “The loan guarantee will prove instrumental to grow and scale not only Plug’s green hydrogen plant network, but the clean hydrogen industry in the United States.”

Plug Power’s plants under the DOE loan will adhere to the current administration’s Justice 40 Initiative, which requires the collection of input from local labor, workforce, and economic development organizations, as well as first responder and non-profit organizations. The planned facilities are expected to generate quality jobs and help develop the workforce skills needed for a clean energy transition.

In March 2024, S&B completed the construction of an electrolytic liquid hydrogen production facility in Woodbine, GA for Plug Power. The company filled its first tanker of liquid green hydrogen in February 2024, marking the start of the facility’s supply capabilities and representing a milestone for Plug Power’s green hydrogen production. Previously, S&B had completed engineering work for Plug Power’s hydrogen test facility in Woodbine.

“This achievement underscores S&B’s capability to deliver sustainable energy solutions and stands as a significant contribution to the nation’s growing green hydrogen infrastructure,” said John Parker, S&B’s President and Chief Operating Officer. “It also showcases S&B’s ability to transform a concept into a successful operation while upholding our commitment to safety and quality.”

The Woodbine facility features a large-scale deployment of proton exchange membrane (PEM) electrolyzers with the capacity to produce 15 metric tons of liquefied hydrogen per day. It will serve customers such as Walmart, Amazon, and Home Depot for material handling operations, fuel cell electric vehicle fleets, and stationary power applications. S&B conducted the engineering, procurement, and construction for the hydrogen project that began in 2022.

Prior to this work, Plug Power’s PEM electrolyzers were selected for installation at Galp’s Sines refinery in Portugal, for which Technip Energies received engineering, procurement services, and construction management contracts to produce a biofuels unit and a green hydrogen unit. Hydrogen production via electrolysis will replace approximately 20% of the current grey hydrogen usage at the Sines refinery, as well as reduce GHG emissions to the tune of 110 ktpa.