Bloodied but Unbowed...26 Feb 2021 16:09
Seems to be helping the SP recovery today:.
Plug Power Inc will be building the largest green hydrogen production facility in North America, the provider of hydrogen fuel cell turnkey solutions said on Thursday. The company will invest $290 million to build the facility at the New York Science, Technology and Advanced Manufacturing Park (STAMP).
Shares of Plug Power (PLUG) dipped 0.4% in pre-market trading on Feb. 26.
Plug Power’s CEO Andy Marsh said, “Plug Power’s future rightfully revolves around building the green hydrogen economy. We are grateful that our home state of New York is helping lead the way on climate and clean energy initiatives. And, that Plug Power’s green hydrogen solutions can make such a positive impact on the environmental and economic climates in the state. We thank our elected officials and partners for their leadership.”
The plant is expected to produce 45 metric tons of green liquid hydrogen daily and will service the Northeast region. Along with the company’s Tennessee plant, it is expected to supply 500 tons of green hydrogen each day by 2025 and 1,000 tons per day by 2028 on a global basis. This project also includes a 450 MW electrical substation that will serve the STAMP site.
https://www.tipranks.com/news/plug-power-to-invest-290m-to-set-up-largest-green-hydrogen-plant-in-north-america