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Energy Department to award Plug Power $1.66 billion loan guarantee for green hydrogen production facilities.

The Energy Department Loan Program Office (LPO) plans to award Plug Power, a major “green” hydrogen company, a $1.66 billion loan guarantee for the construction of up to six production facilities across multiple states. The facilities are expected to produce low-carbon fuel for fuel cell vehicles used in material handling, transportation, and industrial applications. The green hydrogen, made with electricity, is expected to reduce greenhouse gas emissions by about 84 percent compared to conventional ‘gray’ hydrogen made with natural gas. Each facility will produce at least 50 full-time jobs once completed, along with up to 300 construction jobs.

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