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Plug Power's Louisiana Hydrogen Plant Set for First Quarter Operations with Robust Safety Standards

1. Louisiana plant enters final commissioning; Q1 operations expected. 2. Facility uses Olin's by-product hydrogen; joint venture model confirmed. 3. 412,000 safe hours achieved; zero injuries noted during high-risk tasks. 4. Capacity increases to 39 TPD; supports major partners like Amazon and Walmart.

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Why Bullish?

The milestone confirmation and capacity expansion directly underpin PLUG's strategic growth. Historical capacity boosts have raised investor confidence through margin improvements and broader market reach.

How important is it?

The update reinforces PLUG's network expansion and safety capabilities, boosting long-term growth prospects; however, it is a scheduled progress report with moderate immediate price impact.

Why Long Term?

Expanding a hydrogen network builds lasting competitive advantages and operational scale, similar to long-term renewable initiatives.

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SLINGERLANDS, N.Y., Feb. 25, 2025 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG) has confirmed that its new 15-ton-per-day (TPD) hydrogen plant in St. Gabriel, Louisiana is on schedule as previously announced for operations in the first quarter, now entering the final commissioning phase. Operated by Hidrogenii—a 50/50 joint venture between Plug Power and Olin Corporation—the facility utilizes Olin’s by-product hydrogen from chlorine production. Once fully operational, the plant will play a key role in expanding Plug’s North American hydrogen network. On-Time Progress with a Strong Safety Focus The project’s steady progress is complemented by a strong safety record, with the facility achieving over 412,000 safe working hours and zero recordable injuries. This milestone reflects disciplined adherence to rigorous process safety management (PSM) standards and thorough job safety analyses (JSA), ensuring that all high-risk activities—from crane lifts and high-voltage installations to vessel purging and high-pressure pneumatic testing—are executed safely. “Our team has executed hundreds of high-risk tasks without a single incident,” said Plug CEO Andy Marsh. Essential Dry-Out Process A critical dry-out process is underway to remove moisture and impurities from the plant’s piping, vessels, and mechanical systems. This essential step ensures the production of high-purity hydrogen by preventing potential issues such as corrosion, freezing, and inefficiencies in fuel cell performance. The process employs advanced pressure regulation and moisture control techniques, with durations varying from several days to a few weeks depending on the section. Expanding Capacity and Strengthening the Network Upon completion, the Louisiana plant will add an additional 15 TPD of liquid hydrogen, increasing Plug’s total production capacity to 39 TPD. This expansion is designed to support growing demand from key partners, including Amazon and Walmart, and further Plug’s strategy of delivering vertically integrated hydrogen solutions. Drawing on operational insights from its Woodbine, Georgia facility, the plant is set for continuous 24/7 operation, enhancing production efficiency and energy independence. With operations on track for the first quarter as previously announced and a commitment to robust safety measures, the Louisiana hydrogen plant marks an important step in advancing Plug Power’s efforts to build a reliable and sustainable hydrogen network across North America. About Plug Power 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 69,000 fuel cell systems and over 250 fueling stations, more than anyone else in the world, and is the largest buyer of liquid hydrogen. With plans to operate a green hydrogen highway across North America and Europe, Plug built a state-of-the-art Gigafactory to produce electrolyzers and fuel cells and is developing multiple green hydrogen production plants for commercial operation. Plug delivers 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: Plug’s ability to complete the final commissions phase or the dry-out process; Plug’s expectation that such facility will bolster its supply of liquid hydrogen being delivered to customers; Plug’s expectation that liquid and gaseous hydrogen production will have a positive impact on Plug’s bottom line and step change in fuel margin expansion; Plug’s continued build-out of its hydrogen network and its ability to allow customers to seamlessly integrate hydrogen into their operations across multiple industries; customer demand for liquid hydrogen; the impact of policies in the U.S. on the demand for liquid hydrogen; the liquid hydrogen production out of Plug’s hydrogen plants bringing down the average cost of delivered hydrogen, positively impacting Plug’s fuel margins; and Plug’s ability to build out a vertically integrated hydrogen ecosystem, including its ability to develop multiple hydrogen production plants targeting commercial operation by year-end 2028. 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, 2023, Plug’s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2024, June 30, 2024 and September 30, 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: Fatimah Nouilati Plug Power Inc. Email: PlugPR@plugpower.com A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d1ada241-3ec4-4208-a953-504623f6e516 Hidrogenii —a 50/50 joint venture between Plug Power and Olin Corporation—Hydrogen Facility 15-ton-per-day (TPD) hydrogen plant in St. Gabriel, Louisiana will play a key role in expanding Plug...

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