Plug Power Partners with Allied Green Ammonia for Major Project

Plug Power's Landmark Agreement with Allied Green Ammonia

Today, Plug Power Inc. (NASDAQ: PLUG), a prominent name in the field of global hydrogen solutions, has forged a significant partnership with Allied Green Ammonia (AGA). This collaboration marks a pivotal moment in the green hydrogen economy, as Plug is set to deliver a remarkable three gigawatts (GW) of electrolyzer capacity for AGA's advanced green hydrogen-to-ammonia facility.

Advancing Towards Sustainable Energy

In a bold move towards a sustainable energy future, AGA plans to establish a massive 4.5 GW solar power plant, which will supply the necessary clean, zero-emission electricity to the Plug electrolyzers. This innovative process will generate green hydrogen, subsequently utilized in the production of green ammonia, demonstrating a commitment to eco-friendly energy solutions.

Engineering the Future

With the agreement officially in place, Plug Power is poised to create a Basic Engineering and Design Package (BEDP). This critical document will encompass essential technical information and engineering specifications to attract potential investors and secure financing necessary for the project.

Projected Timelines and Production Goals

Following a positive Final Investment Decision (FID), anticipated by the second quarter of 2025, Plug anticipates commencing the manufacturing and delivery of high-performance Proton Exchange Membrane (PEM) electrolyzers starting in the first quarter of 2027. Notably, AGA's ambitious endeavor aims to produce around 2,700 metric tons per day (TPD) of green ammonia, addressing the growing demand from clients in Asia and Europe across various sectors such as agriculture and energy storage.

Industry Leaders Unite for a Greener Tomorrow

Andy Marsh, the CEO of Plug, expressed his enthusiasm regarding this partnership, emphasizing the importance of cost and carbon reduction through electrolysis-based hydrogen. "We are excited to collaborate with Allied Green Ammonia, which is at the forefront of green ammonia production. Together, we are not only enhancing green ammonia production but also championing the shift towards a net-zero emissions future," said Marsh.

Commitment and Growth in Green Ammonia Production

Alfred Benedict, Chairman and Managing Director of AGA, echoed similar sentiments, praising the partnership with Plug for its crucial role in realizing this monumental project. He articulated a vision grounded in long-term collaboration, stating, "Taking on such a significant project with 3 GW of electrolyzers is ambitious. Our commitment to our partners over the next four to five years is key, and strong partnerships make achieving our green energy goals possible. Having allies like Plug is essential for bringing our vision to life."

About Allied Green Ammonia (AGA)

Allied Green Ammonia is dedicated to collaborating with leading technology and materials providers to create one of the largest and most efficient green ammonia production plants globally. Their proactive approach includes securing vital equipment, technology, and partnership agreements to ensure the project's success, further bolstered by Plug's cutting-edge electrolyzers manufactured in New York.

Broader Impact of AGA's Initiative

AGA places significant value on its partnerships with industry stakeholders, governmental bodies, and local indigenous communities, represented by the Gumatj Corporation. This network is instrumental in establishing crucial infrastructure that promises to generate numerous local job opportunities, significantly reduce carbon emissions, and provide sustainable and affordable fuels for the global market.

Plug's Role in the Green Hydrogen Ecosystem

Plug is actively constructing an end-to-end green hydrogen ecosystem, focusing on production, storage, delivery, and energy generation. This holistic approach is designed to help clients achieve their environmental goals while also contributing to overall economic decarbonization. With over 69,000 fuel cell systems deployed and more than 250 fueling stations, Plug holds the title of the largest buyer of liquid hydrogen.

Future Plans and Innovations

Looking toward the future, Plug plans to operate a green hydrogen highway across North America and Europe. It has established a state-of-the-art Gigafactory that will produce electrolyzers and fuel cells, with multiple green hydrogen production plants targeting commercial operations by the end of 2028. Plug's commitment to delivering innovative green hydrogen solutions spans diverse fields, from material handling to industrial applications, all aimed at meeting its customers' evolving needs.

Frequently Asked Questions

What is the main focus of the partnership between Plug Power and AGA?

The partnership is primarily aimed at supplying a significant electrolyzer system for producing green hydrogen and ammonia, supporting the transition to sustainable energy.

How will the solar plant contribute to this project?

AGA's planned solar plant will provide clean, renewable energy to power the electrolyzers, ensuring zero emissions during hydrogen production.

What is the expected production capacity of green ammonia?

The facility is expected to produce approximately 2,700 metric tons of green ammonia daily.

When is the manufacturing of electrolyzers scheduled to start?

Manufacturing of the Proton Exchange Membrane electrolyzers is expected to begin in the first quarter of 2027, following the positive investment decision.

What role does Plug Power play in the global hydrogen market?

Plug Power is a leader in supplying hydrogen solutions, with a vast network of fuel cells and fueling stations, facilitating a sustainable market for hydrogen energy.

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