H₂Tech (H₂T) sat down with Andy Marsh (AM), CEO of Plug Power to discuss the challenges and opportunities of scaling low-carbon H₂ production across the U.S. with the funding of up to six new projects. We also analyze Plug Power’s recent $30-MM investment tax credit transfer and its importance within the larger framework of the Inflation Reduction Act of 2022.

H₂T: What role does the U.S. DOE’s $1.66-B loan guarantee play in advancing Plug Power’s goals for H₂ production and manufacturing, and how does it impact the company’s long-term vision?

AM: We anticipate that our DOE loan guarantee, having already cleared its legal hurdles, will continue to drive H₂ development for up to six new plants. The H₂ industry maintains long-standing bipartisan support and will play an instrumental role in the new presidential administration's push for U.S. competitiveness and energy dominance. We will scale up our green H₂ production capabilities over the next several years with the support of the loan guarantee, reducing costs for our customers and improving the market-based competitiveness of the H₂ economy.

H₂T: Can you elaborate on how Plug Power’s green H₂ plant in Graham, Texas, utilizes its adjacent wind farm and proprietary technologies, and how this project contributes to the broader H₂ economy?

AM: Our Graham, Texas, facility will leverage an adjacent wind farm to establish a cost-competitive source of H₂ that will be supplied to our customers, such as Amazon, Walmart and Home Depot. This locally generated energy source will enhance national security by reducing dependence on foreign energy sources.

H₂T: With the construction of up to six projects funded by this loan guarantee, what specific challenges and opportunities do you anticipate in scaling zero- or low-carbon H₂ production across the U.S.?

AM: Our team is ready to work closely with the new administration on energy sector policy goals. Although the disbursement timeline associated with the loan guarantee may shift during the transition to a new administration, we are looking forward to collaborating and are confident that our H₂ development projects will stay on track. We are eager to advance our new projects, which will support the creation of new energy jobs and the deployment of H₂ applications, helping us to build a national H₂ energy supply to power the U.S. manufacturing economy.