Plug Power to build $290M green hydrogen project in New York

Feb. 25, 2021 5:53 PM ETPlug Power Inc. (PLUG)PLUGBy: Carl Surran, SA News Editor27 Comments
  • Plug Power (NASDAQ:PLUG) +4.3% post-market after saying it will move forward with plans to build a $290M hydrogen fuel production plant and electric substation in western New York state.
  • Plug says the plant will be North America's largest green hydrogen production facility, producing 45 metric tons/day of green liquid hydrogen for freight transportation and materials handling equipment.
  • Construction is expected to start this summer and conclude in late 2022.
  • The company has announced plans for five regional green hydrogen facilities in the U.S., with all five expected to be operational by 2024.
  • Plug shares slumped 13.6% in today's trade after reporting a much larger than forecast Q4 loss.

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