Plug Power and Certarus team up for renewable hydrogenDecember 21, 2021
The companies plan to work together on both the supply of H2 as well as distribution infrastructure.
Centarus Ltd., the leading compressed natural gas transporter, has teamed up with Plug Power Inc. (NASDAQ stock symbol PLUG), a leading global renewable hydrogen turnkey solutions provider, in a long-term supply and logistics agreement.
The companies aim to boost the infrastructure required for green H2 fuel adoption acceleration.
The companies will be working together to combine their expertise in renewable hydrogen production and mobile energy distribution to grow and solidify the supply chain in North America. Among the goals of this effort is to make green H2 both convenient and affordable for companies seeking to decarbonize and achieve their environmental, societal, and governance (ESG) goals throughout multiple sectors of industry.
Within this agreement Plug Power will be supplying Certarus with a daily 10 tons of green H2 from its North American H2 production network. Deliveries are slated to begin in next year’s first quarter. From there, the logistics platform and industry-leading compressed gas delivery trailer fleet at Centarus will safely transport the fuel from where it was produced to the end users.
End users of the renewable hydrogen include leading power generation, mining and natural gas energy users.
The end users that will be receiving the green H2 include both Plug Power’s and Centarus’ natural gas mid-stream, industrial energy users, mining, and power generation clients. The companies also intend to partner on Plug Power equipment supply, to serve customers’ needs in a cost-effective way.
“We are building out a green hydrogen ecosystem, with the goal to deliver 500 tons per day of green hydrogen by 2025 and 1,000 tons per day by 2028,” said Plug Power CEO Andy Marsh. “The partnership with Certarus is a meaningful step in building out the green hydrogen ecosystem to serve large energy sectors and in providing Plug Power the ability to flex and scale our overall delivery capabilities.”
Plug Power brings its market leadership in renewable hydrogen solutions to the agreement, whereas Centarus’ contribution to the collaboration includes its proven success in the delivery of low-carbon fuel solutions to end users and mission critical industries.