Plug Power, a hydrogen solutions provider, has secured a $1.66 billion loan guarantee from the US Department of Energy’s (DOE) Loan Programs Office. The funding will support the development of up to six large-scale hydrogen production and liquefaction projects across the United States, marking a significant step forward in the country’s transition to clean energy.
The initiative aligns with the US government’s priorities to reduce carbon emissions, strengthen energy independence, and bolster the resilience of the energy grid.
The first project to benefit from the DOE loan will be Plug Power’s green hydrogen plant in Graham, Texas. Powered by a nearby wind farm, the facility will use Plug Power’s domestically manufactured electrolyzer stacks and liquefaction systems. The plant is expected to create hundreds of high-quality jobs while producing zero-carbon hydrogen.
Plug Power’s existing hydrogen network includes facilities in Woodbine, Georgia; Charleston, Tennessee; and St. Gabriel, Louisiana, with a current production capacity of approximately 45 tons of liquid hydrogen per day. The new projects, enabled by DOE funding, will significantly expand this capacity, supporting the growing demand for clean energy solutions.
Andy Marsh, CEO of Plug Power, emphasised the importance of the initiative and said, “Finalising this loan guarantee with the Department of Energy is a pivotal step in expanding our domestic hydrogen production capabilities. This not only reduces emissions but also reinforces the U.S. as a global leader in energy technology.”
Plug Power is also developing a green hydrogen highway in North America and Europe, with multiple production plants expected to be operational by 2028.
