Business
Plug Power and Lhyfe announce commercial arrangement to develop green hydrogen plants throughout Europe
300MW Renewable hydrogen production Sites to Start operation in 2025 and an initiative Seeks to start the development of a 1GW production site LATHAM, N.Y.
About this update from Plug Power, Inc.
[{"type":"text","content":"300MW Renewable hydrogen production Sites to Start operation in 2025 and an initiative Seeks to start the development of a 1GW production site\nLATHAM, N.Y. and NANTES, France, Oct. 27, 2021 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ : PLUG), a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, and Lhyfe, a pioneer producer and supplier of renewable and ecological hydrogen, today announced an partnership to jointly pursue and develop green hydrogen generation plants throughout Europe. The initiative seeks to generate a total hydrogen capacity of 300MW by 2025, and to start the development of a 1GW production site. The agreement builds upon the working relationship already established between the two companies earlier this year. In that project, Plug Power’s hydrogen electrolyzer technology will provide 1MW of capacity to the world’s first offshore hydrogen production facility, developed by Lhyfe and powered by electricity from a floating wind turbine off the coast of Le Croisic, at SEM-REV, Centrale Nantes’ offshore test site, which will be operational by 2022. Executives from Plug Power and Lhyfe gathered today in Paris, France, at Hyvolution 2021, where they signed a Memorandum of Understanding (MOU) outlining their respective roles and responsibilities, and their goals for the years ahead. “We’re thrilled to expand our work with Lhyfe, bringing the green hydrogen revolution throughout Europe,” said Andy Marsh, CEO for Plug Power. “The team at Lhyfe have bold ambitions and capabilities that align with our own vision for a decarbonized future, and ability to scale hydrogen infrastructure quickly. In North America, we’ve already built a robust ‘hydrogen highway,’ which includes 165 hydrogen fueling stations and stationary power for businesses and institutions, a success we plan to replicate in Europe.” Plug Power is the largest buyer of liquid hydrogen globally and has been present in Europe for more than 10 years. The company has made significant progress in deploying hydrogen applications with key European industrials, logistics customers and vehicle manufacturers, including its joint venture with Renault called HYVIA. Plug Power has installed several PEM technology solutions in Germany, France, The Netherlands, Italy and Portugal, and recently announced the launch of its European headquarte...