Hydrogen refuelling stations are expanding in the United States of America. And Plug Power is on the leading edge of it.
What’s happening:
- Plug Power (NASDAQ: PLUG) has been awarded a $10M USD grant from the United States Department of Energy to accelerate the build out of hydrogen refuelling stations for medium and heavy-duty vehicles
Why it matters:
- Plug Power is aiming to validate a new type of hydrogen refuelling station known as HYPER-Fuel, which is a liquid-to-gaseous dispensing and cryogenic dispensing hydrogen refuelling technology which is purpose built for large vehicles and commercial vehicles
- If the new hydrogen refuelling station technology proves successful, Plug Power and the United States Department of Energy plan to roll out more of these hydrogen refuelling stations across the United States in an effort to decarbonize heavy-duty vehicles that are not yet capable of transiting to lithium-ion batteries
By the numbers:
- The new funding from Plug Power comes from the United States Department of Energy’s commitment to investing $62M USD into 20 different hydrogen project across 15 different states
- Plug Power currently has successfully built out 250 hydrogen refuelling stations globally, which is more than any other company in the world
Going deeper:
- The new hydrogen refuelling station will be located in Pullman, Washington and will be developed in collaboration with Washington State University, the University of Maryland at College Park and the National Renewable Energy Laboratory
- This is not the first time Plug Power has landed funding from the government of the United States, previously receiving the largest loan ever granted from the United States Department of Energy Loan Office to accelerate the production of green hydrogen at commercial scale
