Plug Power (PLUG) is partnering towards building a significant hydrogen plant with Brookfield Renewable Partners. In addition to integrating hydrogen fuels into the existing grid, it is a crucial hydrogen scaling experience.
This plant is being constructed in Pennsylvania, USA, and will be one of the world’s first industrial-scale plants. With zero emissions of harmful substances during production, it will produce up to 15 tons of liquid hydrogen every day. Plug Power will provide power, and the hydroelectric plant owned by Brookfield Renewable will be used to run the plant. Transport and logistics companies in North America will be consumers of hydrogen fuel.
The Plug Power (PLUG) eventually plans to manufacture 500 tonnes of hydrogen daily by 2025, becoming one of the world’s largest hydrogen producers.
Plug Power and Brookfield Renewables may find future growth in hydrogen production through large-scale hydrogen production. It will help from the growing demand for hydrogen, which could fulfil about 24 % of the world’s energy needs by 2050, in a market worth $ 10 trillion. As the electrolysis and liquefaction of hydrogen require a lot of electricity, Brookfield Renewable can be a sustainable consumer of green electricity.
Shares of Plug Power Inc (PLUG) were up 4.11% at $35.44 on the last check-in before the market open. At the close of the previous session, PLUG shares closed at $34.04, up 10.59% or $3.26. PLUG share traded between $30.24 and $34.22 during the trading day. The number of shares exchanged was 34.91 million, less than its 50-day daily volume of 35.65 million and less than its year to date volume of 42.58 million. Since the start of the year, the stock of the company has increased 850.84%. The stock has fallen by -7.47% in the last week. During the previous six months, the stock has gained 157.88%, and over the past three months, the stock has gained 1.40%. Stocks have returned 0.38% so far this year.