Plug Receives Industry Certification for its High-Powered Stationary System

Rhea-AI Summary

Plug Power, a leader in hydrogen solutions, has secured industry certification for its one MW high-powered stationary system. The certification, based on the American National Standards Institute/CSA Group’s FC 1-2021 standard, ensures the safe operation and performance of Plug's zero-emission stationary fuel cell power systems. These systems are designed for backup, intermittent, or continuous power, providing energy resilience and independence. This milestone supports decarbonization goals and is expected to drive demand, especially in hyperscale data centers, EV charging stations, and microgrid applications. Key achievements include a 3 MW unit backup system for Microsoft and a 2 MW unit for charging 200 fleet vehicles.

Positive

• Secured industry certification for one MW high-powered stationary system.
• Certification based on ANSI/CSA Group’s FC 1-2021 standard.
• Provides zero-emission, reliable power for various applications.
• Expected to drive significant demand in hyperscale data centers and EV charging.
• Supports decarbonization goals.
• Installed a 3 MW backup system for Microsoft.
• Installed a 2 MW unit for charging over 200 fleet vehicles.

Negative

• No significant negative aspects reported affecting business performance or stock.

Third-Party Validation Will Fast Track Implementation of Back-Up Power, EV Charging and Prime Power Solutions for Customers

LATHAM, N.Y., June 20, 2024 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, secured industry certification for its one MW (megawatt) high-powered stationary system.

Plug achieved certification of its high-powered stationary system to the American National Standards Institute/CSA Group’s FC 1-2021 standard covering the safe operation, performance, and construction of stationary fuel cell power systems.

Plug’s stationary systems provide a zero-emission solution, reliable power where and when needed. Whether for backup, intermittent, or continuous power, these systems provide energy resiliency and independence so business operations can continue to run seamlessly.

Supported by this industry-leading third-party certification, customers ranging from hyperscale data centers and fleet EV (electric vehicle) charging stations in grid-constrained areas to microgrid applications powering local grids during PSPS (public safety power shutoff) events can now fast track implementation of Plug’s high-powered stationary system.

“We are pleased to have achieved this important certification and look forward to supporting the decarbonization goals of power producers,” noted Plug CEO Andy Marsh. “This certification marks another key milestone in the build-out of our stationary power solutions, expected to drive significant demand for our green hydrogen.”

In the build-out of the stationary power market, Plug has generated significant momentum as follows:

• Backup power for hyperscale data centers requiring tens to hundreds of MWs: Plug entered this market with a zero-emission 3 MW unit backup system for Microsoft.
• Powering microgrids: Plug is working with Energy Vault on a first-of-a-kind application supporting the state of California’s PSPS initiative with a zero-emission plant.
• Powering EV fleets where the grid is unavailable or too costly: Plug installed a 2 MW unit for charging over 200 fleet vehicles at a customer site. 
  

With this certification, Plug will continue to expand its high-power stationary system, positioned for significant growth potential in clean Peaker plant operations. Hydrogen’s scalability and extended duration capabilities make it pivotal in addressing the demands for this sizeable market.

For more information about Plug’s stationary power solutions, please visit https://www.plugpower.com/applications/stationary-power/.

About Plug

Plug is building an end-to-end green hydrogen ecosystem, from production, storage, and delivery to energy generation, to help its customers meet their business goals and decarbonize the economy. In creating the first commercially viable market for hydrogen fuel cell technology, the company has deployed more than 69,000 fuel cell systems and over 250 fueling stations, more than anyone else in the world, and is the largest buyer of liquid hydrogen.

With plans to operate a green hydrogen highway across North America and Europe, Plug built a state-of-the-art Gigafactory to produce electrolyzers and fuel cells and is developing multiple green hydrogen production plants targeting commercial operation by year-end 2028. Plug delivers its green hydrogen solutions directly to its customers and through joint venture partners into multiple environments, including material handling, e-mobility, power generation, and industrial applications.

For more information, visit www.plugpower.com.

Plug Power Safe Harbor 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: Plug’s belief that its third-party validation will fast-track implementation of back-up power, EV charging and prime power solutions for customers; Plug’s belief that its stationary systems provide reliable power where and when needed so business operations can continue to run seamlessly; Plug’s expectation that the American National Standards Institute/CSA Group’s FC 1-2021 certification will drive significant demand for its green hydrogen; and Plug’s expectation that it will continue to expand its high-power stationary system and be positioned for significant growth potential in clean Peaker plant operations. 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, 2023, Plug’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 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

Fatimah Nouilati 
Allison
plugPR@allisonpr.com

FAQ

What recent certification did Plug Power's high-powered stationary system receive?

Plug Power's one MW high-powered stationary system received certification based on the American National Standards Institute/CSA Group’s FC 1-2021 standard.

How does Plug Power's certification affect its stationary systems?

The certification ensures safe operation, performance, and construction, enhancing the reliability and marketability of Plug Power's zero-emission stationary fuel cell power systems.

What are the applications for Plug Power's certified stationary system?

Applications include backup power for hyperscale data centers, fleet EV charging in grid-constrained areas, and microgrid applications during public safety power shutoff events.

How will Plug Power's certification impact its market growth?

The certification is expected to drive significant demand and growth, particularly in hyperscale data centers, EV charging stations, and clean Peaker plant operations.

What specific projects highlight Plug Power's stationary system capabilities?

Notable projects include a 3 MW backup system for Microsoft and a 2 MW unit for charging over 200 fleet vehicles.