As part of a new collaboration agreement, Plug Power and Apex Clean Energy hope to accelerate the shift to clean energy and mutually promote the advancement of green hydrogen in the US.
Under the agreement, the two companies will develop a green hydrogen network which utilises wind power. The facilities will be designed leveraging Apex’s development pipeline of renewable projects.
All green hydrogen generation through the agreement will support Plug Power’s objective to decarbonise the broader transportation and logistics industries while facilitating the growth of the hydrogen economy.
Andy Marsh, CEO of Plug Power, said, “We expect the levelised cost of hydrogen produced by renewables to continue to decline while providing active returns for our investors.”
“Green hydrogen represents a substantial growth opportunity for the broader renewable industry that accelerates decarbonising the electric grid and producing clean hydrogen fuel to serve many industries.”
Mark Goodwin, President and CEO of Apex Clean Energy, added, “To accomplish the mission of a 100% clean energy economy, it is essential that we move aggressively to ramp up the green hydrogen supply chain.”
The partnership with Apex Clean Energy marks a key milestone for Plug Power’s green hydrogen strategy and supports its goal to utilise over 50% green hydrogen by 2024.