Plug Power Showcases Portable Hydrogen Refueler Solution

ROCHESTER, N.Y., June 14, 2023 — Plug Power Inc., a global leader in comprehensive hydrogen solutions for the green hydrogen economy, will today host Analyst Day from its state-of-the-art Gigafactory in Rochester, NY.

During Analyst Day, Plug’s management team will present the exciting revenue growth opportunities in the Applications and Energy business units, as well as provide a financial update. The team will also provide valuable insights into the operational scale of Plug’s manufacturing facilities, including the Rochester gigafactory and Vista manufacturing facility, to showcase the company’s ability to deliver innovative and sustainable hydrogen solutions at scale. This event marks the first time Plug Power has opened its Rochester gigafactory doors to invited guests since the Symposium held in October 2022.

During Analyst Day, Plug will also highlight a path to 2030 leveraging today’s growth. The company’s ambition is to produce more than 2,000 tons of hydrogen per day from its green hydrogen network including its first kiloton-scale plant by 2030. Also, by 2030, Plug aspires to deploy one gigawatt (GW) of stationary power products, ship five GW of electrolyzers per year, and deliver 500,000 fuel cell-powered forklift trucks.

In addition, Plug is positioning itself to have the manufacturing capability to support 10 GW of fuel cells and electrolyzers and, through its partnership with Renault, to have 100,000 HyVia vans on the road by 2030.

“We have built a vertically integrated hydrogen business that is rapidly gaining traction in the global market,” said Andy Marsh, Plug Power CEO. “Our commitment to building, selling, and deploying real products has positioned us as a leader in the green hydrogen industry. We have the expertise and capability to meet the growing demand and get green hydrogen up and running successfully for customers.”

Plug Power today introduced the HL 1500, the market’s first portable hydrogen refueler, designed to reduce infrastructure costs and deployment time for medium-duty and heavy-duty hydrogen-powered commercial vehicles. A complete self-contained fueling station “on wheels,” the HL 1500 offers fleet managers a pathway to pilot deployment and a bridge to future permanent infrastructure.

Pre-built in a factory, the HL 1500 meets all industry quality and safety standards and requirements upon delivery, making permitting and deployment easier. The HL 1500 refuels commercial vehicles with hydrogen as quickly as diesel or other fossil fuels and can be flexibly redeployed to multiple locations. With a refueling capacity of 1,500 kilograms, it dispenses liquid hydrogen at 350 Bar or 750 Bar pressure levels.

Plug has seen immediate demand for the HL 1500 from major transit agencies, including Rochester (N.Y.) Genesee Transit and San Mateo County Transit District (SamTrans). By the end of this year, three transit customers will receive the first shipments.

“Our new portable hydrogen refueler levels the playing field with battery electric vehicles,” said Mr. Marsh. “At one-third the cost of a permanent hydrogen fueling station, the HL 1500 is the ideal starter and small fleet fueling solution.”

This new product resulted from the technology, capabilities and expertise Plug acquired from Applied Cryo Technologies in November 2021.