Plug Power Inc. PLUG is making rapid strides in increasing its green hydrogen energy production capacity. Only last week, the company announced plans to set up its German headquarters.
What Happened: New York-based Plug Power announced Monday it is planning to construct a new state-of-the-art production facility in Fresno County, California.
The facility, the company said, will be the largest hydrogen production facility on the west coast. It will have capacity to produce 30 metric tons of liquid hydrogen daily, and the manufactured green hydrogen energy will be distributed to customers from San Diego to Vancouver.
"The facility will use a new 300 megawatt zero-carbon solar farm to power 120 megawatts of Plug Power's state-of-the-art PEM electrolyzers, which split water into hydrogen and oxygen through an electro-chemical process," the company said.
The project also includes construction of a new tertiary wastewater treatment plant in the city of Mendota that will provide recycled water for the people of Mendota and supply the full needs of the plant.
Pending environmental and construction permitting approvals, the plant will break ground in early 2023 and complete commissioning in early 2024, the company said.
Related Link: Why Plug Power's Top- And Bottom-Line Are Diverging
Why It's Important: The proposed California plant will be in addition to Plug Power's national network of plants in New York, Tennessee and Georgia. The combined capacity will likely be 500 tons per day of liquid green hydrogen by 2025.
This would help replace 4.3 million metric tons of carbon dioxide emissions and 1,000 tons per day globally by 2028.
Plug Power sees its investment in green hydrogen production as contributing to decarbonizing light-duty vehicles, freight transportation and logistics operations, and supporting California's role in developing hydrogen as a zero-emission fuel.
PLUG Price Action: Plug Power shares were down 3.06% at $25.66 in Monday morning trading.
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