Thu Sep 12 00:16:00 UTC 2024: ## Plug Power Secures Contract for Green Methanol Project in Portugal

**Slingerlands, NY – September 12, 2024** – Plug Power, Inc. (NASDAQ: PLUG), a leading provider of hydrogen solutions, has secured a contract with H2DRIVEN, a joint project of Dourogás and CapWatt, to provide technical support for their green methanol project in Portugal.

Under the agreement, Plug will offer its Technical Evaluation Phase (TEP) support for 25 megawatts of its Proton Exchange Membrane (PEM) Electrolyzers during the Front End Engineering Design (FEED) process for the project.

H2DRIVEN aims to produce 80,000 tons of green methanol annually by combining biomass gasification with green hydrogen generated through water electrolysis powered by solar energy. This sustainable methanol will be used in heavy industry and mobility applications, contributing to a cleaner energy future.

Plug will provide essential support and detailed information on its PEM electrolyzer technology, guiding H2DRIVEN through the FEED process. The project is expected to be operational by the end of 2026.

“This agreement underscores our leadership and expertise in PEM electrolyzer technology,” said Plug CEO Andy Marsh. “With the world’s largest PEM electrolyzer plant and extensive real-world experience, we are well-positioned to provide the technical support needed to advance this project.”

H2DRIVEN is committed to bolstering the Portuguese economy and resilience through research and development, diversification, and reduced reliance on external markets. The initiative aims to increase exports, support the EU’s technological sovereignty, and stimulate investment in R&D.

This project highlights Plug Power’s commitment to building an end-to-end green hydrogen ecosystem, from production, storage, and delivery to energy generation.

The company is currently developing multiple green hydrogen production plants targeting commercial operation by year-end 2028.

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