Photo: Plug Power
The U.S. Department of Energy’s (DOE) Loan Programs Office (LPO) announced a conditional commitment to Plug Power for a potential $1.66 billion loan guarantee. The funding aims to support up to six clean hydrogen production facilities across multiple states, employing Plug Power’s electrolyzer technology. These facilities will supply low-carbon green hydrogen to major companies, supporting industrial decarbonization efforts.
This initiative aligns with the Biden-Harris Administration’s focus on advancing clean energy for economic growth, job creation, and emissions reduction. If finalized, the project is estimated to create 100-300 construction jobs per facility and 50 full-time positions at each location. Plug Power’s hydrogen facilities will serve various sectors, including material handling and transportation, with significant emissions reductions compared to conventional production methods. Plug Power, one of the world’s largest hydrogen users, producer has built technology to make hydrogen from water using electrolysis. These projects will leverage Plug Power’s expertise in proton exchange membrane electrolyzer technology, manufactured at its Rochester, NY, gigafactory. Additionally, with an electrolyzer factory in Rochester, the company plans to construct other large-scale commercial hydrogen production plants in New York as well as in various southern states.
Plug Power’s commitment to community engagement and workforce development initiatives align with federal priorities on job quality and environmental justice. Plug Power’s initiative reflects broader efforts under President Biden’s agenda to invest in clean energy, infrastructure, and job creation, facilitated by LPO’s Title 17 Clean Energy Financing Program. While contingent on meeting technical, legal, and environmental criteria, Plug Power’s commitment underscores the administration’s commitment to a clean and equitable energy future.
Plug Power CEO Andy Marsh shares that “Green hydrogen is an essential driver of industrial decarbonization in the United States. This loan guarantee will help us build on our previous successes with additional green hydrogen plants.”
