Plug Power Inc. Completes Acquisitions of United Hydrogen and Giner ELX, continuing to execute on its five-year plan - Seite 2

Today, United Hydrogen is one of the largest privately held merchant hydrogen producers in North America. The company has the capability to produce 6.4 tons of hydrogen each day with plans to increase that capacity to 10 tons daily in the near future, as well as plans for further expansion. Bringing a wealth of talent and expertise, the acquisition of United Hydrogen Group significantly enhances Plug Power’s capabilities in hydrogen generation, liquefaction and distribution logistics.

Giner ELX includes one of the most experienced teams in the world in PEM electrolysis: most have worked for two decades or more in the field. The company’s offerings include one of the world’s largest, most efficient and cost-effective PEM hydrogen generators; grid-level renewable energy storage solutions, and on-site hydrogen generation systems for fuel cell vehicle refueling stations and industrial uses. Giner ELX also has a strong sales channel in the European market. Plug Power expects the Giner ELX acquisition to dramatically increase its overall green hydrogen supply capabilities and the Company can add significant manufacturing capabilities immediately to serve the global market for electrolyzers.

“Plug Power is working to build the modern clean hydrogen economy,” said Plug Power CEO, Andy Marsh. “Every decision we make is with an eye to the future, not the past. This closely aligns with the efforts that companies like United Hydrogen and Giner ELX have made to secure broad participation in the hydrogen economy, and to achieve the objectives of a clean environment and reduced dependence on foreign oil. We welcome these organizations into the Plug Power family where, as a team, we can accelerate the adoption of low carbon and zero carbon hydrogen on a global scale.”

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 32,000 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.