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Hidrogenii, a Plug and Olin Joint Venture, Commissions 15 Ton Per Day Hydrogen Liquefaction Plant in Louisiana

1. Plug's new plant boosts hydrogen capacity to 40 TPD. 2. Joint venture Hidrogenii enhances regional hydrogen supply chain. 3. Facility promotes low-carbon energy transition in the U.S. 4. Partnership reduces reliance on third-party hydrogen suppliers. 5. Plug targets expanding its national green hydrogen network.

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Why Bullish?

The completion of the liquefaction plant furthers Plug's production capacity and market presence. Historical examples show capacity expansions typically correlate with stock price increases in related sectors.

How important is it?

The joint venture and increased production capacity signify a robust step toward market leadership, impacting investor confidence. This growth in production capacity enhances Plug's competitive edge in the hydrogen sector.

Why Long Term?

The strategic expansion of Plug's hydrogen capacity can lead to sustained revenue growth over years. Past instances of infrastructure investments showing long-term financial benefits support this projection.

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Hydrogen Capture Enhances Sustainability and Profitability of Olin’s St. Gabriel Facility Plug US Hydrogen Capacity now at 40TPD ST. GABRIEL, La., April 17, 2025 (GLOBE NEWSWIRE) -- Hidrogenii, the joint venture between Plug Power Inc. (NASDAQ: PLUG) and Olin Corporation (NYSE: OLN), today announced the commissioning of its 15 metric-ton-per-day (TPD) hydrogen liquefaction plant in St. Gabriel, Louisiana. Among the largest electrolytic hydrogen liquefaction facilities in North America, the site marks a major milestone in strengthening the regional hydrogen supply chain and accelerating the U.S. transition to low-carbon energy. The newly commissioned facility will liquify hydrogen produced by Olin for trailer shipments across the U.S., serving Plug’s material handling customers and utilizing Plug’s novel spot pricing market. The plant is designed to liquefy up to 15 TPD of hydrogen at maximum capacity, increasing Plug’s total production capacity to 40 TPD. “This Louisiana plant, a milestone in expanding our U.S. hydrogen network, bolsters our financial position by leveraging a dependable, cost-effective hydrogen source, reducing our reliance on third-party suppliers,” noted Plug CEO Andy Marsh. Ken Lane, President and CEO of Olin, added, “This joint venture is consistent with Olin’s value-first approach to build on our existing leading positions through high-value adjacencies or bolt-ons that align with our capital allocation framework.” Established in 2022, Hidrogenii was formed by Plug and Olin to build and operate this state-of-the-art liquid hydrogen facility in St. Gabriel, Louisiana. The plant plays a key role in Plug’s broader strategy to scale a national green hydrogen network, joining existing Plug production sites in Woodbine, Georgia (15 TPD), and Charleston, Tennessee (10 TPD). About Plug Plug Power is building the global hydrogen economy with a fully integrated ecosystem spanning production, storage, delivery, and power generation. A first mover in the industry, Plug Power provides electrolyzers, liquid hydrogen, fuel cell systems, storage tanks, and fueling infrastructure to industries such as material handling, industrial applications and energy producers—advancing energy independence and decarbonization at scale. With electrolyzers deployed across five continents, Plug Power leads in hydrogen production, delivering large-scale projects that redefine industrial power. The company has deployed over 72,000 fuel cell systems and 275 fueling stations and is the largest user of liquid hydrogen. Plug Power is rapidly expanding its generation network to ensure a reliable, domestically produced hydrogen supply. With plants operational in Georgia, Tennessee, and Louisiana, Plug Power’s total production capacity is now 40 tons per day. Plug Power supports global leaders like Walmart, Amazon, Home Depot, BMW, and BP through its talented workforce and state-of-the-art manufacturing facilities around the world. For more information, visit www.plugpower.com. About Olin Corporation Olin Corporation is a leading vertically integrated global manufacturer and distributor of chemical products and a leading U.S. manufacturer of ammunition. The chemical products produced include chlorine and caustic soda, vinyls, epoxies, chlorinated organics, bleach, hydrogen and hydrochloric acid. Winchester's principal manufacturing facilities produce and distribute sporting ammunition, law enforcement ammunition, reloading components, small caliber military ammunition and components, industrial cartridges and clay targets. Visit www.olin.com for more information on Olin Corporation. About Hidrogenii Hidrogenii is a U.S.-based joint venture between Plug Power Inc. and Olin Corporation, combining Plug’s leading hydrogen technology with Olin’s decades of industrial expertise. Together, the venture is focused on producing and delivering reliable, domestically sourced hydrogen to serve growing demand across mobility, power, and industrial markets. By leveraging existing infrastructure and a proven track record in hydrogen innovation, Hidrogenii is helping build the backbone of the American hydrogen economy. 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 liquid hydrogen production out of Louisiana strengthening the regional supply chain; the acceleration of the transition to low-carbon energy in the U.S.; the market demand for liquid hydrogen across the U.S., especially the spot pricing market; the Louisiana Plant’s capacity to produce up to 15 tons per day of hydrogen; Plug’s liquid hydrogen plants in Georgia and Tennessee operating at maximum capacity; Plug’s total maximum plant capacity increasing to 40 TPD; Plug’s expectation that the expansion of Plug’s U.S. hydrogen market will bolster Plug’s financial position; Plug’s expectation that the liquid hydrogen supply out of Louisiana will reduce Plug’s reliance on third-party suppliers; 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, 2024 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. MEDIA CONTACT Plug:Fatimah Nouilati - AllisonplugPR@allisonpr.com

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