Plug Power Achieves Certification for One MW Stationary System, Targets Green Hydrogen Expansion

Plug Power, Inc. PLUG secured industry certification on Thursday for its one megawatt high-powered stationary system.

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

Plug’s stationary systems offer zero-emission solutions, ensuring reliable power for diverse needs. From backup to continuous power, they enhance energy resiliency for uninterrupted business operations.

“This certification marks another key milestone in the build-out of our stationary power solutions, expected to drive significant demand for our green hydrogen,” noted Plug CEO Andy Marsh.

Plug has gained substantial traction in expanding the stationary power market. The company entered this market with a zero-emission 3 MW unit backup system for Microsoft Corporation MSFT and installed a 2 MW unit for charging over 200 fleet vehicles at a customer site. 

The company recently held its annual meeting, where it highlighted its short-term business priorities and the company's operation execution goals of hydrogen production in Georgia and Tennessee in a presentation that is available on its website.

In the short term, Plug also aims to prioritize equipment sales across the product portfolio, including the completion of construction in Louisiana.

Plug underscored its priority pieces of profitability that lie in – pricing increases across the material handling portfolio and vertical integration with the plug hydrogen network, among others.

Price Action: PLUG shares are trading lower by 1.89% to $2.59 at last check Thursday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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