Plug Power Inc (PLUG)

[B_B!]

Plug Power receives anticipated $1.6 billion loan guarantee from Department of Engery
May 14, 2024

U.S. Senate Majority Leader Charles E. Schumer today released the following statement on the U.S. Department of Energy announcing a conditional commitment to Plug Power for an up to $1.66 billion loan guarantee to supercharge American-led industry clean hydrogen production:

“This $1.6 billion federal investment will supercharge Plug’s world-class workforce across Upstate New York as Plug builds new facilities across the nation, all powered by the equipment made in New York. Green hydrogen has the potential to help us decarbonize some of the trickiest parts of our economy – from the industrial sector to marine shipping – and with the major federal investments through the Inflation Reduction Act I championed, Upstate NY is poised to lead the way in powering America’s clean energy future. From the electrolyzers made at Plug’s state-of-the-art Gigafactory in Henrietta, NY to the fuel cells manufactured at Plug’s Capital Region facility, this means new growth, new demand for Plug across Upstate NY. With federal investments like this we are unlocking the potential for green hydrogen to power America’s clean energy future, with Plug and Upstate NY leading the way.”

https://www.thebatavian.com/press-release/plug-power-receives-anticipated-16-billion-loan-guarantee-from-department-of-engery