© Plug Power
© Plug Power

Plug Power hits full capacity at two US liquid green hydrogen plants

Plug Power today (April 23) said it has achieved nameplate capacity at two US liquid green hydrogen plants as the firm attempts to solidify its financial position.

The company’s plants in Georgia and Tennessee have reached nameplate capacity of 15 and 10 tonnes per day respectively, which Plug said will allow it to benefit from a “lower cost of hydrogen.”

Having started production at the 40MW plant in Georgia this January (2024), the site has been running at a “stable” rate of nameplate production since the beginning of April, according to Plug. Its plant in Charleston, Tennessee, had been down for some time before restarting operations in February 2024.

Now producing 10 tonnes per day, Plug said with a total liquid hydrogen capacity of 25 tonnes per day, it can now fulfil around 50% of its customers’ green hydrogen demand – primarily for end-users in material handling.

By the end of Q3 2024, the company expects to bring an additional 15 tonnes per day of liquid green hydrogen production online from a joint venture plant in Louisiana with Olin Corporation.

Read more: Plug Power to launch joint venture for Louisiana, US green hydrogen plant

In March (2024), the company said had resolved a going concern issued at the end of September 2023 as it revealed a 2023 net loss of $1.36bn.

The resolution came just weeks after the firm announced job cuts as part of a $74m cost reduction programme, aimed at bolstering the company’s financial position in 2024.

Read more: Plug Power is dedicated to ‘bolstering financial position’ in 2024 following $1.3bn net loss

Following the production milestone, Andy Marsh, CEO of Plug, said the firm was happy to “make headway” in its strategy of “[lowering] cost sourced hydrogen through capacity expansions at our Georgia and Tennessee plants coupled with improved margins through the recalibration of pricing across our portfolio.”

Sanjay Shrestha, General Manager, Energy Solutions and Chief Strategy Officer at Plug, said the development was a “meaningful step” towards cost reduction and “margin enhancement.”

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