onurdongel/iStock via Getty Images
onurdongel/iStock via Getty Images
Plug Power (NASDAQ:PLUG ) +1.9% pre-market after announcing Wednesday it will build a green hydrogen generation plant at the Port of Antwerp-Bruges in Belgium, the second-largest seaport in Europe.
Plug (PLUG) said it signed a 30-year concession agreement to build a 100 MW green hydrogen plant, using its own electrolyzer and liquefaction technology, on 28 acres of land leased under the agreement.
The plant will produce as much as 12.5K tons/year of liquid and gaseous green hydrogen for the European market.
The Wall Street Journal reports Plug (PLUG) plans to spend ~$315M on the facility, with initial production of green hydrogen expected in late 2024 and plant commissioning in 2025.
Plug Power (PLUG) recently was awarded a 1 GW electrolyzer contract with H2 Energy Europe for a planned hydrogen production complex in Denmark.