PLUG POWER CONTINUES EXECUTING ON ITS GREEN HYDROGEN STRATEGY WITH PURCHASE OF HYDROGEN LIQUEFACTION SYSTEM FROM CHART INDUSTRIES
03/17/21
Plug Power to Build First-of-a-Kind Green Hydrogen Generation Network in United StatesATLANTA and LATHAM, N.Y. , March 17, 2021 (GLOBE NEWSWIRE)
-- Chart Industries, Inc. (NYSE: GTLS), a leading diversified global manufacturer of highly engineered equipment for the industrial gas and clean energy industries has announced that Plug Power (NASDAQ: PLUG), a leading provider of turnkey green hydrogen solutions has placed an order for two 15 ton per day liquefaction plants. This is in line with Plug Power’s previously announced strategy to build the first-of-a-kind green hydrogen generation network in the United States.
The hydrogen liquefaction plants will utilize Chart’s helium refrigeration technology, cold box design, and the associated rotating equipment. This order includes the supply of the hydrogen liquefaction system, liquid hydrogen storage tanks, and trailer loadout bays. Delivery is scheduled for the second quarter of 2022.The liquefication system will utilize gaseous hydrogen from Plug Power’s in-house electrolyzers and renewable electricity. The US-based plants will be located in the Mid-Atlantic and Southeast, and are expected to be online before the end of 2022.“We are proud to be a partner to Plug Power as they execute on their strategic global buildout in the hydrogen industry,” stated Jill Evanko, Chart’s CEO and President. “Their global vision is already demonstrated in the increasing demand for Plug’s hydrogen value chain, and we are pleased to contribute our liquefaction and equipment capabilities to Plug Power’s vision.” “We are pleased to continue our collaboration with CHART industries as we execute on our green hydrogen strategy with plans to produce 1,000 tons of green hydrogen globally by 2028,” said Andy Marsh, CEO of Plug Power.
Chart Industries, Inc. is a leading independent global manufacturer of highly engineered equipment servicing multiple applications in the Energy and Industrial Gas markets. Our unique product portfolio is used in every phase of the liquid gas supply chain, including upfront engineering, service and repair. Being at the forefront of the clean energy transition, Chart is a leading provider of technology, equipment and services related to liquefied natural gas, hydrogen, biogas and CO2 Capture amongst other applications. We are committed to excellence in environmental, social and corporate governance (ESG) issues both for our company as well as our customers. With over 25 global locations from the United States to Asia, Australia, India, Europe and South America, we maintain accountability and transparency to our team members, suppliers, customers and communities. To learn more, visit www.chartindustries.com.
