Plug Power and olin corporation partner to produce green hydrogen in 15 ton per day plant to serve North America.
Plug Power Inc. (NASDAQ: PLUG), a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, and Olin Corporation (NYSE: OLN), a leading vertically integrated chlor alkali producer and marketer, announced the signing of a memorandum of understanding (MOU) with the intention to create a joint venture (JV) to produce and market green hydrogen to support growing fuel cell demand in the global hydrogen economy.
The JV is the first of its kind and will provide reliability of supply and speed to market for green hydrogen throughout North America, setting the foundation for broader collaboration between the two companies. The first production plant in St. Gabriel, Louisiana will produce 15 tons per day (tpd) of green hydrogen.
This partnership brings together Olin, North America’s largest producer of electrolytic hydrogen, with Plug Power, who is building an end-to-end global green hydrogen ecosystem.
Under the JV, Plug Power will market the hydrogen and provide logistical support for delivery while Olin will provide reliable hydrogen production and operational support.
Scott Sutton, Chairman, President, and CEO of Olin, said:
Olin’s 130-year history of producing hydrogen as part of our chlor alkali production process combined with Plug Power’s leadership in the green hydrogen economy creates a powerful partnership to serve the growing demand for green hydrogen.
“This JV is a key step for Olin as we seek to recognize the full potential of Olin’s untapped hydrogen supply capabilities across North America. We are excited to partner with Plug Power, a true leader in sustainable hydrogen, to serve the fuel cell market.”
Plug Power has been investing heavily in green hydrogen production, the future of clean energy.
This JV activity will expand Plug Power’s existing work to build a “first of a kind” green hydrogen generation network in North America to help customers achieve their sustainability goals of net-zero carbon emissions.
Thanks for staying up to date with Hydrogen Central. Plug Power is targeting 70 tpd by the end of this year and is on track to deliver 500 tpd of green hydrogen production by 2025 and 1,000 tpd by 2028.
Andy Marsh, CEO of Plug Power, said:
We believe widespread availability of green hydrogen will create a flywheel effect by making green hydrogen ubiquitous and economical, helping accelerate the proliferation of numerous fuel cell applications,”
“Olin has proven itself as a leader and bringing Olin’s reliable production capabilities together with the expertise of Plug Power is sure to make a lasting impact on the global hydrogen economy.”
The joint venture is expected to be operational in 2023.
About Plug Power
Plug Power 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 Power 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 Power 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.
About Olin Corporation
Olin Corporation is a leading vertically-integrated global manufacturer and distributor of chemical products and a leading U.S. manufacturer of ammunition.
The chemical products produced include chlorine and caustic soda, vinyls, epoxies, chlorinated organics, bleach and hydrochloric acid.
Winchester’s principal manufacturing facilities produce and distribute sporting ammunition, law enforcement ammunition, reloading components, small caliber military ammunition and components, and industrial cartridges.
PLUG POWER AND OLIN CORPORATION PARTNER TO PRODUCE GREEN HYDROGEN IN 15 TON PER DAY PLANT TO SERVE NORTH AMERICA, LATHAM, N.Y., April 28, 2022
