Plug Power and Allied Biofuels Expand Partnership in Uzbekistan to Deploy Up to 2 GW of GenEco PEM Electrolyzers for Landmark eSAF Project

Rhea-AI Summary

Plug Power (NASDAQ: PLUG) executed a binding supply agreement with Allied Biofuels FE LLC for up to 2 GW of GenEco PEM electrolyzers to support production of sustainable aviation fuel (SAF), electro‑SAF (eSAF) and green diesel in Uzbekistan.

The deal raises Plug’s contracted electrolyzer capacity with Allied partners to 5 GW across two projects and targets a final investment decision (FID) in Q4 2026. The agreement was signed during Plug CEO Andy Marsh’s visit to Australia and is described as one of the largest electrolyzer supply agreements announced in 2025.

Positive

• 2 GW supply agreement for GenEco PEM electrolyzers
• Total 5 GW contracted electrolyzer capacity with Allied partners
• Supports flagship SAF/eSAF and green diesel facility in Uzbekistan
• Targeted FID in Q4 2026 for the Uzbekistan project
• Signed during CEO visit, signalling executive engagement and deal momentum

Negative

• None.

Insights

Energy project finance strategist

Large supply deal; advances multi‑GW electrolyzer deployment tied to an eSAF project with FID targeted in Q4 2026.

Plug signed a binding supply agreement to deliver up to 2 GW of GenEco PEM electrolyzers to Allied Biofuels FE LLC to support SAF, eSAF and green diesel production in Uzbekistan. This raises the combined Plug/Allied contracted capacity to 5 GW across two projects, and the agreement was finalized on October 30, 2025.

The business mechanism is straightforward: large electrolyzer capacity underpins upstream hydrogen production for renewable fuel synthesis, and a binding supply agreement de‑risks equipment availability for the developer ahead of a planned final investment decision in Q4 2026. Key dependencies include the developer reaching FID, timely procurement financing, and on‑site power and renewable energy availability to run the electrolyzers at scale.

Risks are execution and timing: equipment delivery schedules, grid or contracted renewable generation commitments, and FID delays can move cashflows and recognition of revenue. Watch the Q4 2026 FID, any announced offtake or financing arrangements, and supply‑chain/delivery milestones over the next 12–18 months for evidence the project will proceed to construction and equipment shipment.

Hydrogen technology commercialization analyst

Significant commercial validation for Plug's GenEco PEM platform through a multi‑GW, cross‑border eSAF project.

Delivering up to 2 GW of electrolyzers for a flagship SAF/eSAF facility positions Plug as a supplier capable of supporting utility‑scale fuel synthesis. The deal adds to a prior 3 GW collaboration, bringing total contracted capacity with Allied partners to 5 GW, which signals growing commercial traction for large‑format PEM systems.

Technical and operational dependencies include proven stack durability, plant integration performance, and sustained renewable power to meet capacity‑factor assumptions. The agreement is a supply commitment rather than confirmation the plant will reach operations; the developer’s FID in Q4 2026 is the pivotal milestone that determines whether equipment orders convert into revenue.

Monitor reported commissioning schedules, declared electrolyzer delivery timelines, and any performance guarantees or warranties in announcements over the next 12–24 months to assess technology de‑risking and likelihood of commercial ramp.

Agreement Strengthens Plug’s Global Portfolio of Utility-Scale Hydrogen and Sustainable Fuel Developments

SLINGERLANDS, N.Y., Oct. 30, 2025 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the hydrogen economy, today announced the execution of a binding supply agreement with Allied Biofuels FE LLC (ABF) for up to 2 gigawatts (GW) of Plug’s GenEco PEM electrolyzer systems. The agreement supports ABF’s development of sustainable aviation fuel (SAF), electro-sustainable aviation fuel (eSAF) and green diesel, with a final investment decision expected in the fourth quarter of 2026.

Building on the previously announced 3 GW collaboration with Allied Green Ammonia (AGA) in Australia, this new supply agreement with Allied Biofuels FE LLC (ABF) brings the total contracted electrolyzer capacity between Plug and its Allied partners to 5 GW across two landmark projects. Plug’s technology will power ABF’s flagship SAF and eSAF facility in Uzbekistan, a strategically located site designed to serve global sustainable fuel markets.

The agreement was signed in Australia during Plug CEO Andy Marsh’s visit to the region, where he met with project developers and energy partners to advance additional hydrogen and liquid-fuel opportunities. The signing represents one of the largest electrolyzer supply agreements announced in 2025, underscoring Plug’s growing role in enabling large-scale renewable fuel production across the Central Asia region.

“This agreement is proof that Plug delivers on what others are still planning,” said Andy Marsh, CEO of Plug Power. “We’re turning hydrogen commitments into real, operating projects at multi-gigawatt scale. Signing this supply agreement in Australia highlights our deep engagement in the global hydrogen economy and our ability to provide proven electrolyzer technology for SAF and eSAF production and decarbonization.”

“At Allied Biofuels, our mission is to deliver reliable, low-carbon fuel solutions to global markets,” said Alfred Benedict, Chairman of Allied Biofuels. “Partnering with Plug’s world-class electrolyzer platform ensures we can achieve the scale, reliability, and performance our customers expect. Finalizing this supply agreement marks a major milestone as we progress toward FID.”

Plug’s growing global presence, including the Asia-Pacific and Central Asia regions, reinforces its position as a leading provider of electrolyzers for renewable fuel and hydrogen-based energy transition projects. In addition to the above commitment, Plug is advancing hydrogen and fuel-cell deployments in South Korea, India, and Japan, helping nations integrate clean hydrogen into power generation, fuel synthesis, and industrial applications.

About Plug Power 
Plug is building the global hydrogen economy with a fully integrated ecosystem spanning production, storage, delivery, and power generation. A first mover in the industry, Plug provides electrolyzers, liquid hydrogen, fuel cell systems, storage tanks, and fueling infrastructure to industries such as material handling, industrial applications, and energy producers, advancing energy independence and decarbonization at scale. 

With electrolyzers deployed across five continents, Plug leads in hydrogen production, delivering large-scale projects that redefine industrial power. The company has deployed over 72,000 fuel cell systems and 275 fueling stations and is the largest user of liquid hydrogen. Plug is rapidly expanding its generation network to ensure reliable, domestically produced supply, with hydrogen plants currently operational in Georgia, Tennessee, and Louisiana, capable of producing 40 tons per day. 

With employees and state-of-the-art manufacturing facilities across the globe, Plug powers global leaders like Walmart, Amazon, Home Depot, BMW, and BP. 

For more information, visit www.plugpower.com. 

About Allied Biofuels (ABF) 

Allied Biofuels FE LLC (ABF) is a Central Asia–based sustainable fuels company developing a world-scale integrated biorefinery complex in Uzbekistan to produce Sustainable Aviation Fuel (SAF), electro-synthetic SAF (eSAF), and green diesel.

ABF is focused on producing zero-carbon fuels that support the global transition to cleaner energy, helping reduce emissions across the aviation and transport sectors while promoting long-term energy resilience and climate sustainability.

For more information, please contact info@alliedbiofuels.com

Plug Power Safe Harbor 

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: whether and when the AGA/ABF project in Uzbekistan reaches FID; how many GW of PEM electrolyzer such Uzbekistan project may be require and whether such project generates the anticipated SAF, eSAF, and green diesel using renewable hydrogen; the ability for AGA and/or ABF to develop projects at the anticipated large-scale, to deliver reliable, low-carbon fuel solutions to global markets, and to successfully position its Uzbekistan location to serve global sustainable fuel markets; the success and sustainability of Plug’s commitment to the Asia-Pacific and/or Central Asia regions; the ability for Plug to deliver electrolyzers at multi-gigawatt scale; the ability for Plug’s electrolyzer technology to specifically enable large-scale renewable fuel production and enable global decarbonization more broadly; the success of Plug’s strategy to support large-scale renewable fuel projects worldwide; whether Plug is able to grow its presence across the Asia-Pacific and Central Asia regions; and the ability for Plug to maintain its position as a leading supplier of electrolyzers for renewable fuel and hydrogen-based energy transition projects. 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 (the “SEC”), including the “Risk Factors” section of Plug’s Annual Report on Form 10-K for the year ended December 31, 2024 and Plug’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 and any subsequent filings with the SEC. 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. 

MEDIA CONTACT 
Teal Hoyos 
media@plugpower.com 

FAQ

What did Plug Power (PLUG) announce on October 30, 2025 about electrolyzer supply?

Plug announced a binding supply agreement to deliver up to 2 GW of GenEco PEM electrolyzers to Allied Biofuels FE LLC.

How much total electrolyzer capacity does Plug have contracted with Allied partners after the PLUG/Allied Biofuels deal?

The agreement brings total contracted electrolyzer capacity with Allied partners to 5 GW across two projects.

What project will Plug’s electrolyzers support in Uzbekistan and when is FID expected for PLUG’s equipment deployment?

Plug’s electrolyzers will power a flagship SAF/eSAF and green diesel facility in Uzbekistan, with a final investment decision expected in Q4 2026.

Why is the PLUG and Allied Biofuels agreement significant for Plug Power (PLUG)?

The deal is cited as one of the largest electrolyzer supply agreements announced in 2025 and expands Plug’s role in large‑scale renewable fuel projects in Central Asia.

Where and when was the Plug Power (PLUG) supply agreement with Allied Biofuels signed?

The supply agreement was signed in Australia during Plug CEO Andy Marsh’s regional visit in 2025.