PLUG - Plug Signs MOU with Allied Green Ammonia for 3GW of Electrolyzer Supply at World-Class Green Ammonia Production Facility | Benzinga
LATHAM, N.Y., May 03, 2024 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ:PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, announced the signing of a memorandum of understanding (MOU) with Allied Green Ammonia (AGA), an Australian Company focused on green ammonia production, to supply up to 3 gigawatts (GW) of Plug electrolyzer capacity for AGA's upcoming hydrogen to ammonia facility proposed for the Northern Territory of Australia.
Following the MOU, Plug and AGA plan to enter an agreement, as outlined in the MOU, to initiate a Basic Engineering and Design Package (BEDP) for the 3GW capacity project. The BEDP is expected to advance mid-May of this year, with final investment decision (FID) planned for Q4 2025 and the progressive delivery of the 3GW electrolyzer supply slated to begin in Q1, 2027.
"Ammonia producers have recognized the substantial advantages of cost and carbon reduction through electrolysis-based hydrogen," said Plug CEO Andy Marsh. "We're thrilled to sign this MOU and partner with AGA. Our expertise in constructing and operating large-scale hydrogen production facilities and our PEM electrolyzer manufacturing capability to support their 3GW project position us as the ideal partner for this endeavor."
Alfred Benedict, Founder & Managing Director of AGA, said: "Our MOU with Plug builds on a long list of leading global firms who are joining us on our journey to build one of the largest green ammonia production facilities in the world, in a strategically located part of Australia given its proximity to Asia. This agreement, in light of Plug's unrivalled expertise and complementary technologies, is a strong vote of confidence in our capabilities and a significant milestone in the planned delivery of Allied Green's facility, which will be one of the most energy efficient green hydrogen and green ammonia projects globally. Given our respective track records in delivering clean energy infrastructure, this agreement is a critical first step and a testament to the alignment of our respective visions to provide tangible solutions that enable the world to achieve net-zero."
Green hydrogen produced by Plug's electrolyzers can help decarbonize ...