Plug Power Inc., a comprehensive H₂ solutions company, closed a $1.66 B loan guarantee from the U.S. Department of Energy’s (DOE) Loan Programs Office (LPO).

“Finalizing this loan guarantee with the DOE represents a significant step in the expansion of our domestic manufacturing and H₂ production capabilities, which create many high-quality jobs throughout the U.S.,” said Plug CEO Andy Marsh. “In addition to reducing carbon emissions and enhancing the resilience of the U.S. energy grid, we believe the H₂ economy aligns closely with national security interests, ensuring that the U.S. remains at the forefront of energy technology development and deployment on a global scale.”

The loan guarantee will help finance the construction of up to six projects to produce and liquify zero- or low-carbon H₂ at scale throughout the U.S. Plug’s Graham, Texas, green H₂ plant, the first to benefit from this financing, will create hundreds of high-quality jobs. Powered by an adjacent wind farm, Plug’s green H₂ production plant will utilize the company’s electrolyzer stacks manufactured at its factory in Rochester, N.Y., and its liquefaction and storage systems built at its facility in Houston.

The H₂ economy is strengthening America’s energy independence and securing U.S. leadership in clean energy innovation. Most importantly, the industry is a vital step toward bolstering the resilience of our energy grid and reducing reliance on foreign energy sources. By aligning with national security priorities, this initiative ensures the U.S. remains a global leader in cutting-edge energy technology and economic growth.

Plug’s current H₂ generation network, with plants in Woodbine, Ga., Charleston, Tenn., St. Gabriel, LA has a liquid H₂ production capacity of approximately 45 tpd.