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Plug Power (NASDAQ:PLUG) +1.2% pre-market Tuesday after saying it has reached nameplate capacity at the company's hydrogen plants in Georgia and Tennessee, with its Louisiana joint venture with Olin on track to achieve mechanical completion by the end of Q3.
Plug (PLUG) said its Georgia hydrogen plant, home to the largest Proton Exchange Membrane electrolyzer system in the U.S., has been running at a stable rate of 15 tons/day since the beginning of April.
With Plug's (PLUG) Tennessee plant now operating at nameplate capacity of 10 tons/day, the company said it has achieved a total liquid hydrogen capacity of 25 tons/day, which can fulfill roughly half of its customers' green hydrogen demand.
The Louisiana plant is projected to add 15 tons/day of liquid green hydrogen to Plug's (PLUG) North American network by the end of Q3.
"Our Georgia and Tennessee plants operating at full capacity is a meaningful step towards continuing to drive cost reduction and margin enhancement in our fuel business," the company said.