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  • DOE Announces $1.66 Billion Loan Guarantee to Plug Power to Produce and Liquify Clean Hydrogen Fuel
DOE Announces $1.66 Billion Loan Guarantee to Plug Power to Produce and Liquify Clean Hydrogen Fuel
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Friday, 17th January 2025
U.S. Department of Energy

The U.S. Department of Energy’s Loan Programs Office (LPO) has approved a $1.66 billion loan guarantee to Plug Power Inc. to construct up to six clean hydrogen production facilities using its proprietary electrolyzer technology. These facilities will supply hydrogen for fuel cell-electric vehicles and industrial uses, reducing greenhouse gas emissions by 84% compared to conventional hydrogen production. The project supports the Biden administration’s clean energy and climate goals, strengthens domestic supply chains, and fosters economic growth. Plug’s state-of-the-art gigafactory in New York will manufacture the electrolyzer stacks, which use renewable energy to produce emissions-free hydrogen. The project will enhance the U.S. hydrogen economy with a resilient fueling network, benefiting corporations like Amazon, Walmart, and Home Depot that already use Plug’s hydrogen technology.

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