Plug Power to supply 1GW water electrolyzer to H2 Energy EuropeMay 24, 2022
This deal is meant to help support the transition to green hydrogen by the transportation sector.
Green hydrogen solutions provider Plug Power Inc. (NASDAQ stock symbol PLUG) has scored a deal with H2 Energy Europe to provide a 1GW water electrolyzer in support of the global green hydrogen economy.
The equipment is intended for a green hydrogen production facility to be constructed in Denmark.
Plug Power will be supplying the largest capacity water electrolyzer in the world so far. As it is meant to produce green hydrogen, this means that it must be powered by renewable energy. In this case, it will be powered by offshore wind energy. This will make it possible to generate as much as 100,000 metric tons of renewable H2 per year. It will be used by the energy sector transportation industry in northern Europe.
The equipment will make it possible to supply the H2 required to fuel for the equivalent to approximately 15,000 heavy duty vehicles daily. This project is a joint venture between H2 Energy and Hyundai. It will supply heavy duty fuel cell truck fleets. Furthermore, earlier in 2022, H2 energy entered into a joint venture with Phillips 66 for the production of over 250 hydrogen refueling stations in Germany, Denmark and Austria which will all use green hydrogen supplied by H2 Energy.
Bringing Plug Power’s water electrolyzer together with H2 Energy’s European reach is a strong partnership.
The project represents an important step forward in carbon emission reduction within the transportation industry for key northern European countries. At the same time, this will help to support security within the current energy crisis faced due to the Russian invasion of Ukraine and the resulting sanctions against Russia.
“We see green hydrogen as the future and have made significant investments in green hydrogen including in the construction of a gigafactory for electrolyzer production,” said Plug Power CEO Andy Marsh in a statement about the water electrolyzer deal. “Our operational readiness and manufacturing capacity were key determinants in our selection for the world’s largest order to date, and we are pleased to be a part of this project with H2 Energy.”