Plug Power to Supply up to 10 Tons per Day of Green Hydrogen, Certarus to Serve as Preferred Third-Party Logistics Provider
LATHAM, N.Y. and HOUSTON, Dec. 14, 2021 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a leading provider of turnkey solutions for the global green hydrogen economy, and Certarus (USA) Ltd., North America's leading transporter of compressed natural gas, have entered into a long-term supply and logistics agreement to further scale and expand the infrastructure needed to accelerate the adoption of green hydrogen fuel. The companies will leverage their collective expertise in hydrogen production, mobile energy distribution and related technologies to enhance the North American supply chain - helping to make hydrogen fuel an affordable and convenient option for companies looking to reduce carbon emissions and achieve ESG goals across multiple industry sectors.
Plug Power will provide Certarus with up to 10 tons of green hydrogen per day from its North American hydrogen production network with initial deliveries expected in Q1 2022. Certarus' integrated logistics platform and industry-leading fleet of compressed gas delivery trailers will safely move hydrogen directly from production locations to Plug Power's and Certarus' end users. These end users include leading mining, power generation, natural gas mid-stream and industrial energy users. The companies will also partner on the supply of equipment from Plug Power to cost effectively serve these customers' needs.
"We are building out a green hydrogen ecosystem, with the goal to deliver 500 tons per day of green hydrogen by 2025 and 1,000 tons per day by 2028," said Andy Marsh, CEO of Plug Power. "The partnership with Certarus is a meaningful step in building out the green hydrogen ecosystem to serve large energy sectors and in providing Plug Power the ability to flex and scale our overall delivery capabilities."
With Plug Power's market leadership in green hydrogen solutions and Certarus' proven success delivering low-carbon fuel solutions to mission critical industries and energy users, this partnership will help alleviate infrastructure bottlenecks and make cost-effective hydrogen available to more customers across North America. To further accelerate green hydrogen's adoption in energy transition applications, Certarus will offer hydrogen to its customers as either a pure or methane-blended fuel.
"We are thrilled to be working with Plug Power to help scale the logistics supply chain needed for the broad adoption of green hydrogen. Certarus' safety record, logistics network and expertise will help service Plug Power as it continues to grow. Certarus' access to Plug Power's green hydrogen production will allow us to sell cost-effective green hydrogen to our own unique customers," said Curtis Philippon, President and CEO of Certarus.
ABOUT PLUG POWER
Plug Power is building the hydrogen economy as the leading provider of comprehensive hydrogen fuel cell (HFC) turnkey solutions. The Company's innovative technology powers electric motors with hydrogen fuel cells amid an ongoing paradigm shift in the power, energy, and transportation industries to address climate change and energy security, while providing efficiency gains and meeting sustainability goals. Plug Power created the first commercially viable market for hydrogen fuel cell technology. As a result, the Company has deployed over 50,000 fuel cell systems for e-mobility, more than anyone else in the world, and has become the largest buyer of liquid hydrogen, having built and operated a hydrogen highway across North America. Plug Power delivers a significant value proposition to end-customers, including meaningful environmental benefits, efficiency gains, fast fueling, and lower operational costs. Plug Power's vertically-integrated GenKey solution ties together all critical elements to power, fuel, and provide service to customers such as Amazon, BMW, Ikea, Carrefour, and Walmart. The Company is now leveraging its know-how, modular product architecture and foundational customers to rapidly expand into other key markets including zero-emission on-road vehicles, robotics, and data centers.
ABOUT CERTARUS
Certarus is the North American leader in providing low carbon energy solutions through a fully integrated compressed natural gas.
MEDIA CONTACTS:
Plug Power
Caitlin Coffee
Allison + Partners
plugPR@allisonpr.com
Certarus
Dan Bertram
Vice President Corporate Development
Certarus Ltd.
dbertram@certarus.com
PLUG POWER FORWARD-LOOKING STATEMENT
This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties about Plug Power Inc.("PLUG"), including but not limited to statements about the expected commercialization of supply and logistics business opportunities related to hydrogen. Such statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in these statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of PLUG in general, see PLUG's public filings with the Securities and Exchange Commission, including the "Risk Factors" section of PLUG's Annual Report on Form 10-K for the year ended December 31, 2020 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2021 and June 30, 2021. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made as of the date hereof, and PLUG undertakes no obligation to update such statements as a result of new information.
CERTARUS FORWARD-LOOKING STATEMENTS
Certain information contained in this document constitutes forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Corporation's control including the impact of general economic and market conditions, the impacts of the COVID-19 pandemic, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, competition from other industry participants, the lack of availability of qualified service providers, personnel or management, the ability to access sufficient capital from internal and external sources, the ability to obtain required consents, permits or approvals and the risk that actual results will vary from the results forecasted and such variations may be material. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Corporation's actual results, performance or achievement could differ materially from those expressed in or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Corporation will derive therefrom.
The forward-looking statements contained in this document are made as of the date hereof. Certarus disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Additionally, Certarus undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
