UNPRF - Plug Power picked by Uniper to design 100 MW electrolyzer at Maasvlakte

2023-03-07 10:17:12 ET

Plug Power ( NASDAQ: PLUG ) said Tuesday it was selected by European power producer Uniper ( OTC:UNPPY ) to design the electrolyzer technology for the Maasvlakte Energy Hub at the Port of Rotterdam in the Netherlands.

At Maasvlakte, Uniper ( OTC:UNPPY ) will commission 100 MW of Plug ( PLUG ) electrolysis capacity to produce green hydrogen by 2026, expanding capacity to 500 MW by 2030 at the latest.

The Rotterdam Harbor area, which includes the Maasvlakte, is the largest carbon emitting industrial cluster in the Netherlands, and decarbonizing this area alone would contribute significantly to the Dutch overall target to reach net zero by 2050.

Under the agreement, Plug Power ( PLUG ) will deliver 10 prefabricated proton exchange membrane electrolyzer arrays for Uniper's ( OTC:UNPPY ) flagship H2Maasvlakte project upon Uniper's positive final investment decision.

Plug Power's ( PLUG ) "credibility [is] at an all-time low" following "abysmal" Q4 and FY 2022 results, Henrik Alex writes in an analysis published recently on Seeking Alpha .

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