SCHUMER DOUBLES DOWN AFTER SECURING 375-JOB PLUG POWER ‘GIGAFACTORY’ IN ROCHESTER, ANNOUNCES SUPPORT FOR $520 MILLION FED LOAN GUARANTEE SOUGHT BY PLUG POWER TO SUPPORT NORTH[...]

04.08.21

Federal DOE Loan Guarantee Is Key To Plug Power Plans To Build Five New Green Hydrogen Fuel Production Facilities Across The U.S., Starting With A $290 Million Production Facility At The WNY STAMP Campus

DOE Has Now Green-Lighted Plug Power to Submit A Loan Guarantee Application Which Is The Key Step To Ultimately Securing $520M Fed Loan Guarantee

Schumer To Feds: Fed Loan Guarantee Will Support New Plug Power STAMP Facility, Boost WNY Economy with 68 jobs, And Create The First U.S.-Wide Network of Green Hydrogen Production Facilities To Produce Carbon-Free Fuel-Cell Power

After fighting for and securing Plug Power's new hydrogen fuel cell 'gigafactory' in Rochester, U.S. Senator Charles E. Schumer today announced his support to secure a $520 million federal loan guarantee from the U.S. Department of Energy (DOE) to be used in constructing a network of green hydrogen facilities, including the planned 68-job green hydrogen production facility at the Western New York STAMP site in Genesee County between Rochester and Buffalo.

Schumer first wrote to the DOE in November 2020 to advocate for the DOE to approve a loan guarantee through its Title XVII Loan Guarantee Program and last month doubled down in urging the new Energy Secretary Jennifer Granholm to provide support and resources to help make Plug Power's plans to build its hydrogen fuel production facility in Genesee County a reality. The DOE has since approved Plug Power, which initially submitted its Part I application in November 2020, to submit a Part II Application for a loan guarantee under the Title XVII Loan Guarantee Program which is the next step in the multi-step process to ultimately secure a DOE conditional commitment and final loan guarantee agreement.

Senator Schumer said, 'Securing this federal loan guarantee will be a win-win to supercharge Plug Power to new heights by supporting its planned 68-job hydrogen fuel production facility at the WNY STAMP site in Genesee County while also creating the nation's first U.S.-wide network of green hydrogen production facilities to produce carbon-free fuel-cell power. I'm glad the DOE has now given Plug Power the green light to pursue a federal loan guarantee. I'll continue to support Plug Power to the fullest in securing this loan guarantee and creating North America's largest green hydrogen production facility right here in the heart of Western New York. '

The $520 million loan guarantee will support Plug Power's construction of five new green hydrogen production facilities to create the first U.S.-wide green hydrogen production network. The facilities will vary in size, producing between 10 to 60 tons of green hydrogen fuel per day up, totaling approximately 180 tons per day of liquid hydrogen production capacity. Plug Power plans on starting with the construction of a $290 million production facility at the Western New York STAMP (Science, Technology, Advanced Manufacturing Park) site in Genesee County, which will produce 45 tons of green hydrogen daily, create 68 new jobs, and rank as North America's largest green hydrogen production facility. Schumer previously noted this new network of green hydrogen fuel production facilities, including the facility at STAMP, can be a national model in efforts to achieve the Biden administration's goal to drastically reduce greenhouse gas emissions and create quality clean energy jobs.

Plug Power's new production facility at STAMP would produce green hydrogen to supply fuel-cell-powered equipment and vehicles such as freight transportation and logistics handling equipment - some powered by fuel cells that will be manufactured at the upcoming Plug Power 'gigafactory' slated to open in Rochester this summer. Schumer said Plug Power can lead the charge in dramatically reducing our nation's greenhouse gas emissions with the construction of its first green hydrogen production facility at the STAMP campus in Western New York.

Plug Power, founded in 1997 and headquartered in Latham, NY, currently employs more than 400 workers in New York to innovate, manufacture and assemble hydrogen fuel cells including about 300 workers in the Capital Region at its headquarters and Capital Region manufacturing sites in Latham and Clifton Park, and about 70 workers at its Rochester, NY manufacturing site. In 2020, Schumer successfully fought for Plug Power to build their new 'gigafactory' in Rochester, which will manufacture hydrogen electrolyzers, used for the production of hydrogen fuel, and hydrogen PEM fuel cells used to produce electricity to power transportation equipment. Slated to open in the middle of next year, the 'gigafactory' will add another 375 employees to Plug Power's New York workforce.

Senator Schumer's November 2020 letter to the Department of Energy appears below:

I am writing to express my strong support for Plug Power's green hydrogen network proposal to develop vertically integrated hydrogen infrastructure across select sites in the U.S., including in New York state, Texas, and Pennsylvania (the 'Viridi Hydrogen Project'). This DOE Title XVII loan program project has the potential to dramatically change how our nation generates and uses energy and will drive new clean energy investment and jobs. Plug Power is focused on serving the zero-emissions material handling, transportation, and industrial sectors with low-cost green hydrogen fuel that is generated using 100% renewable, zero carbon energy. This project will strengthen our country's economic, environmental, and national security by utilizing domestic energy resources, including low-cost renewable energy from solar photovoltaic, wind, and hydro-electric generation facilities to produce green hydrogen. It will decrease the need for energy imports while creating industry and employment growth opportunities across a variety of markets.

Plug Power, founded in 1997 and headquartered in Latham, NY, employs over 1,217 across the world, including over 600 employees in New York. The company is focused on building the hydrogen economy as the leading provider of comprehensive hydrogen fuel cell turnkey solutions. Plug Power created the first commercially viable market for hydrogen fuel cell technology, deploying approximately 40,000 fuel cell systems, more than any other company in the world. They have also become the largest buyer of liquid hydrogen, having built and operated a hydrogen highway across North America. Plug Power delivers a significant value to its customers, including meaningful environmental benefits, efficiency gains, fast fueling, and lower operational costs.

In New York, Plug Power will leverage its existing operations to construct a commercial-scale hydrogen fuel production facility in Western New York. This cutting-edge facility will use renewable power to produce 30 to 40 tons of green hydrogen fuel per day. The facility will not only create an estimated 60 to 70 permanent jobs in New York alone but will create a robust, U.S-based green hydrogen fuel capability to meet the needs of U.S. industries.

Again, I am pleased to support Plug Power in its application for a Federal Loan Guarantee to fund the Viridi Hydrogen Project under the DOE Title XVII Loan Guarantee Program. This financing will assist Plug Power in growing clean energy jobs and meeting its mission to decarbonize the broader transportation and logistics industries, as well as to facilitate the anticipated rapid growth of the hydrogen economy here in the United States.

Please contact me if you have any questions on the contents of this letter or with respect to my continuing support of Plug Power's Project.

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