In New York, Plug Power received a conditional commitment for an up to $1.66 billion loan guarantee from the Department of Energy’s (DOE) Loan Programs Office (LPO) to finance the development, construction, and ownership of up to six green hydrogen production facilities. The production facilities, which will be selected for financing in accordance with procedures to be set forth in definitive documentation with DOE, will be built across the US and supply major companies, including Plug’s existing customers, with locally-developed green hydrogen. The hydrogen generated will be used in applications in the material handling, transportation, and industrial sectors, Plug said. “Green hydrogen is an essential driver of industrial decarbonization in the United States,” said Plug Power CEO Andy Marsh. “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.” Marsh added, “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.”
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