Plug Power Announces Selection of Rochester to Host Plug Power Innovation Center
January 19 2021 - 9:08AM
Plug Power Inc. (NASDAQ: PLUG), a leading provider of hydrogen
engines and fueling solutions enabling e-mobility, is pleased to
announce that New York’s Rochester area has been selected to host
the company’s PEM stack and electrolyzer Innovation Center.
Expected online by mid-2021, the Innovation Center will mark a
significant expansion in the company’s production and manufacturing
capabilities for fuel cells and electrolyzers. It will also house
research and development for MEAs and fuel cell stacks. This
announcement comes amid increasing recognition of the critical role
that green hydrogen, which is produced by electrolyzers using
renewable energy and deployed in fuel cells, could play in
achieving a zero-carbon economy.
“We are thrilled to expand in our home state of New York,
announcing Monroe County as the location for the world’s first PEM
stack and electrolyzer Plug Power Innovation Center,” said Andy
Marsh, CEO of Plug Power. “Among many great options, none could
match Rochester in terms of talent, local supplier networks, and
opportunities to partner with top-tier research institutions. With
this decision, we are positioning the company and the region as
global leaders in PEM technology, driving scale and industry
transformation. Many thanks to New York state for its continued
support including Senator Chuck Schumer, Congressman Joe Morelle,
Governor Cuomo, and many from Empire State Development and Greater
Rochester Enterprise.”
The Plug Power Innovation Center is part of a broader company
strategy to accelerate the development of a clean hydrogen
ecosystem. With a capacity of over a gigawatt of electrical output,
The Center will produce an estimated 7 million MEAs/plates, 60,000
stacks, and 500 Mw of Electrolyzers per year. To meet these
targets, Plug Power is pioneering the application of advanced
manufacturing techniques, including high speed lamination,
automated metal plate stamping, laser welding and robotic
gasketing. Alongside efficiency gains from this high-volume
automation, the facility’s vertically-integrated design will enable
material cost reductions and other savings.
Plug Power’s expanded presence certifies Rochester as a leading
location for fuel cell innovation and manufacturing. Through this
Innovation Center, Plug Power will invest $125 million into the
local economy, create 375 jobs and bring material and component
suppliers to the region. The Plug gigafactory will also serve as a
world-class technology research and development center, supported
by collaborations with local universities. Additionally, Plug Power
plans to supply local commercial fleets with green hydrogen
produced on-site.
Senator Schumer was also encouraged by the decision, adding,
“I’m ecstatic that Plug Power heeded my call to make Rochester the
home of its new hydrogen fuel cell Gigafactory. Rochester’s
powerhouse workforce helped pioneer cutting edge hydrogen fuel cell
technology and can now help drive Plug Power’s revolutionary clean
energy technology to new heights. Over 375 new clean energy jobs
will now supercharge Rochester, positioning the region as a global
hub in the green economy. I commend NYS for its support to help
enable Plug Power, a proud Upstate NY-based business with deep
roots and hundreds of NYS workers, to double down here by building
its biggest manufacturing factory in Rochester.”
“With our wealth of fuel cell expertise and manufacturing
know-how, Rochester is the perfect location to host Plug Power’s
PEM Stack and Electrolyzer gigafactory,” said Congressman Joe
Morelle. “Our city welcomes long-time supporter Plug Power’s newest
location and we look forward to filling these hundreds of new jobs
with Rochester’s best and brightest talent.”
“For years, Plug Power has been a critical partner in helping
move both the state and nation towards a cleaner, greener future,
as well as in helping strengthen local economies and create jobs,”
Governor Cuomo said. “The company’s continued investment and
expansion in the Finger Lakes region is truly a testament to their
commitment to this effort. This state-of-the-art Innovation Center
will not only further establish New York as a center for green
energy excellence and create hundreds of jobs, but also play a key
role in helping reach the goals set forth in our nation-leading
climate and clean energy agenda.”
Greater Rochester Chamber of Commerce President and CEO Bob
Duffy said, “We are thrilled that Plug Power has chosen Rochester,
NY as the site of their new hydrogen fuel cell Gigafactory. The 375
new clean energy jobs created will help energize our local economy,
while state-of-the-art sustainable technology solutions will help
further our region’s reputation as a center of technology and
innovation. Greater Rochester Chamber looks forward to working with
CEO Andy Marsh and the Plug Power team to ensure their ongoing
success and growth in the Finger Lakes region and beyond.”
About Plug Power
Plug Power is building the hydrogen economy as the leading
provider of comprehensive hydrogen fuel cell 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 meeting sustainability goals. Plug Power
created the first commercially viable market for hydrogen fuel cell
technology. As a result, the Company has deployed over 40,000 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, The Southern Company, 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. Learn more at www.plugpower.com.
Safe Harbor StatementThis 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 expectations
regarding its multi-year investment and growth , PLUG’s clean
hydrogen technology and fuel cell solutions playing a critical role
in achieving climate and decarbonization goals, deepening of
relationships with key stakeholders, and acceleration of demand and
adoption of hydrogen technology . You are cautioned that such
statements should not be read as a guarantee of future performance
or results, and will not necessarily be accurate indications of the
times that, or by which, such performance or results will have been
achieved. 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, 2019 and Quarterly
Reports on Form 10-Q for the quarters ended March 31, 2020, June
30, 2020 and September 30, 2020. 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.
SOURCE: PLUG POWER
Media ContactIan MartoranaThe Bulleit
Group(415) 237-3681plugpowerpr@bulleitgroup.com
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