{"id":32622,"date":"2022-12-15T18:19:55","date_gmt":"2022-12-15T13:19:55","guid":{"rendered":"http:\/\/myanmarnewsgazette.com\/?guid=5c3a4774eb83afa959ae081c5e176a06"},"modified":"2022-12-15T18:19:55","modified_gmt":"2022-12-15T13:19:55","slug":"plug-and-nikola-announce-collaboration-to-push-hydrogen-economy-forward","status":"publish","type":"post","link":"https:\/\/myanmarnewsgazette.com\/plug-and-nikola-announce-collaboration-to-push-hydrogen-economy-forward\/","title":{"rendered":"Plug and Nikola Announce Collaboration to\u00a0Push Hydrogen Economy Forward"},"content":{"rendered":"
\n

Companies enter into a Green Hydrogen Supply Agreement. Plug will be supplying green hydrogen to Nikola starting in 2023, and ramping up to a 125 TPD take-or-pay commitment as Plug\u2019s green hydrogen network continues to come online.<\/em><\/p>\n

Nikola to purchase a 30 TPD liquefaction system from Plug for\u00a0<\/em>its Arizona <\/em>Hydrogen Hub<\/em><\/p>\n

Plug to purchase up to 75 Nikola Tre FCEVs over the next three years<\/em><\/p>\n

Emphasizes Plug\u2019s commitment to sustainability by driving down\u00a0<\/em>greenhouse gas emissions within the hydrogen ecosystem<\/em><\/p>\n

LATHAM, N.Y., Dec. 15, 2022 (GLOBE NEWSWIRE) — Plug Power<\/u><\/a> (Nasdaq: PLUG), a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, and\u00a0Nikola Corporation<\/u><\/a> (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, today announced a strategic relationship focused on moving the hydrogen economy forward.<\/p>\n

Plug and Nikola have executed a Green Hydrogen Supply Agreement. Plug will be supplying green hydrogen to Nikola starting January 1, 2023, with volumes ramping up to 125 tons per day (TPD) as Plug\u2019s green hydrogen production network continues to come online. The agreement anticipates 125 TPD volume by the end of 2026, with 80% under a take-or-pay contract.<\/p>\n

Nikola has awarded Plug the contract to provide one 30 TPD hydrogen liquefaction system for Nikola’s recently announced Arizona hydrogen hub<\/u>.<\/a>\u00a0The Plug designed, engineered and manufactured liquefaction system is for the first phase of Nikola’s Arizona hydrogen hub, with a potential to scale up to 150 TPD. Nikola plans to provide access of up to 300 TPD of hydrogen supply and up to 60 hydrogen dispensing stations by 2026. Nikola\u2019s Arizona hub is currently going through the permitting and rezoning process, and procurement of long-lead equipment is underway. Plug\u2019s hydrogen liquefaction system has one of the most energy-efficient and cost-effective designs on the market, utilizing hydrogen as the refrigerant in the main liquefaction cycle.<\/p>\n

\u201cNikola and Plug share a common vision for sustainable, efficient, energy solutions which supports our commitment to decarbonize the transportation industry,\u201d said Nikola President, Energy, Carey Mendes. \u201cThis strategic relationship will help underpin Nikola\u2019s ambitious growth plans to expand the hydrogen energy business and to support the adoption of Nikola\u2019s zero-emission Class 8 trucks.\u201d<\/p>\n

As part of Plug\u2019s commitment to advancing the decarbonization of energy, up to 75 Nikola Tre Fuel Cell Electric Vehicle (FCEVs) will be purchased over the next three years to bring green hydrogen to Plug customers in North America, with the first trucks being delivered in 2023. This initiative underscores Plug\u2019s commitment to decarbonize the hydrogen ecosystem by driving down Plug\u2019s current scope 1 emissions by as much as 50%, while decarbonizing the hydrogen supply chain for its customers. The acquired FCEVs will be paired with Plug\u2019s liquid hydrogen tankers. The Plug hydrogen tanker is the largest and lightest trailer ever manufactured, with unprecedented over-the-road payloads.<\/p>\n

\u201cToday’s announcement demonstrates Plug\u2019s leadership in the green hydrogen economy and its ability to make the adoption of hydrogen as easy as possible,\u201d said Sanjay Shrestha, CSO and General Manager of Energy Solutions for Plug. \u201cOur vertically integrated solutions, which are designed to fit individual customer needs, include hydrogen production equipment or the delivery of green hydrogen fuel, whichever is preferred. We look forward to our strategic relationship with Nikola as we advance the hydrogen economy forward.\u201d<\/p>\n

A proven leader in the hydrogen economy, Plug is building the world\u2019s first end-to-end green hydrogen ecosystem and remains on track to have 500 TPD of green hydrogen generation network in North America by 2025 and 1,000 TPD on a global basis by 2028. Plug\u2019s green hydrogen supply, combined with other sources of hydrogen, is expected to help Nikola further buildout a robust portfolio and Nikola FCEV sales.<\/p>\n

About Plug<\/strong><\/p>\n

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 50,000 fuel cell systems and over 165 fueling stations, more than anyone else in the world, and is the largest buyer of liquid hydrogen. With plans to build and operate a green hydrogen highway across North America and Europe, Plug is building a state-of-the-art Gigafactory to produce electrolyzers and fuel cells and multiple green hydrogen production plants that will yield 500 tons of liquid green hydrogen daily by 2025. Plug will deliver 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<\/a>.<\/p>\n

Plug Safe Harbor Statement<\/strong><\/p>\n

This communication contains \u201cforward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties about Plug Power Inc. (\u201cPLUG\u201d), including but not limited to statements about: PLUG\u2019s design, construction, commissioning and operation of each hydrogen generation plant and through the use of Plug\u2019s electrolyzers, liquefaction capabilities and cryogenic tankers, PLUG\u2019s targets of 45 tons per day of green hydrogen production by the end of 2022 in North America, 500 tons per day by 2025 in North America, and 1,000 tons per day globally by 2028. PLUG\u2019s plans to provide its industry-leading liquefaction equipment for Nikola\u2019s recently announced Arizona hydrogen hub. Plug\u2019s equipment will be engineered to produce 30 metric-tons per day in its first phase, and will scale up to 150 metric-tons per day upon completion. Plug\u2019s commitment to advancing the decarbonization of energy; the initial order of up to 75 Nikola Tre Fuel Cell Electric Vehicles (FCEVs) to support Plug operations in the transport of green hydrogen to customers in North America. The acquired FCEVs potential to pair with Plug\u2019s liquid hydrogen tankers; the claim that they are the largest and lightest trailer ever manufactured, and potential for unprecedented over-the-road payloads. Plug\u2019s option to assist Nikola in marketing FCEVs as part of its comprehensive energy solutions to its customers; Plug\u2019s expectation to benefit from Nikola\u2019s projected heavy-duty truck demand for hydrogen through increased asset utilization; Enabling more efficient operations and lower costs, while supporting continued supply growth through capacity expansions at existing facilities and the development of new hubs. The supply could help Nikola de-risk hydrogen development through supply that blends with and enhances other hydrogen supply sources to create a robust portfolio, which is expected to enable Nikola FCEV sales in key markets, starting in 4Q 2023. 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\u2019s public filings with the Securities and Exchange Commission (the \u201cSEC\u201d), including the \u201cRisk Factors” section of PLUG\u2019s Annual Report on Form 10-K for the year ended December 31, 2021 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.<\/p>\n

Plug Media Inquiries<\/strong><\/p>\n

Caitlin Coffee
\nAllison+Partners
\nplugPR@allisonpr.com<\/a><\/p>\n

GlobeNewswire Distribution ID 8715031<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Companies enter into a Green Hydrogen Supply Agreement. Plug will be supplying green hydrogen to Nikola starting in 2023, and ramping up to a 125 TPD take-or-pay commitment as Plug\u2019s green hydrogen network continues to come online. Nikola to purchase a 30 TPD liquefaction system from Plug for\u00a0its Arizona Hydrogen Hub Plug to purchase up [\u2026]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"yoast_head":"\nPlug and Nikola Announce Collaboration to\u00a0Push Hydrogen Economy Forward - Myanmar News Gazette<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/myanmarnewsgazette.com\/plug-and-nikola-announce-collaboration-to-push-hydrogen-economy-forward\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Plug and Nikola Announce Collaboration to\u00a0Push Hydrogen Economy Forward - Myanmar News Gazette\" \/>\n<meta property=\"og:description\" content=\"Companies enter into a Green Hydrogen Supply Agreement. 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