Plug and Allied Green Execute Binding Framework Agreement for 3 GW Electrolyzer Capacity
Plug Power Inc. (NASDAQ: PLUG) has signed a binding framework agreement with Allied Green Ammonia (AGA) for 3 GW of electrolyzer capacity for AGA's green hydrogen to ammonia plant in Australia. This follows the recent completion of an MOU and BEDP contracts. The partnership aims to build one of the world's largest green ammonia production facilities, with delivery expected in late 2026/early 2027.
AGA's facility, located at Gove Peninsula in the Northern Territory of Australia, is designed to produce approximately 2,700 metric tons per day of green ammonia. The collaboration aims to decarbonize ammonia production by replacing conventional Steam Methane Reforming with green hydrogen generated through Plug's advanced electrolyzers. This project is expected to produce green hydrogen and ammonia competitively compared to conventional carbon-intensive methods.
Plug Power Inc. (NASDAQ: PLUG) ha firmato un accordo quadro vincolante con Allied Green Ammonia (AGA) per 3 GW di capacità di elettrolizzatori per l'impianto di AGA per la produzione di idrogeno verde in ammoniaca in Australia. Questo segue il recente completamento di un MOU e dei contratti BEDP. La partnership mira a costruire uno dei più grandi impianti di produzione di ammoniaca verde al mondo, con consegna prevista a fine 2026/inizio 2027.
L'impianto di AGA, situato nella Gove Peninsula nel Territorio del Nord dell'Australia, è progettato per produrre circa 2.700 tonnellate metriche al giorno di ammoniaca verde. La collaborazione mira a decarbonizzare la produzione di ammoniaca sostituendo il tradizionale Steam Methane Reforming con idrogeno verde generato attraverso gli elettrolizzatori avanzati di Plug. Questo progetto dovrebbe produrre idrogeno verde e ammoniaca in modo competitivo rispetto ai metodi convenzionali ad alta intensità di carbonio.
Plug Power Inc. (NASDAQ: PLUG) ha firmado un acuerdo marco vinculante con Allied Green Ammonia (AGA) para 3 GW de capacidad de electrolizadores para la planta de hidrógeno verde a amoníaco de AGA en Australia. Esto sigue a la reciente finalización de un MOU y los contratos BEDP. La asociación tiene como objetivo construir una de las plantas de producción de amoníaco verde más grandes del mundo, con entregas previstas para finales de 2026/principios de 2027.
La instalación de AGA, situada en la Península de Gove en el Territorio del Norte de Australia, está diseñada para producir aproximadamente 2,700 toneladas métricas por día de amoníaco verde. La colaboración tiene como objetivo descarbonizar la producción de amoníaco al reemplazar la reforma de metano por vapor convencional con hidrógeno verde generado a través de los electrolizadores avanzados de Plug. Se espera que este proyecto produzca hidrógeno verde y amoníaco de manera competitiva en comparación con los métodos convencionales intensivos en carbono.
Plug Power Inc. (NASDAQ: PLUG)는 Allied Green Ammonia (AGA)와 구속력 있는 프레임워크 계약을 체결하여 호주에 위치한 AGA의 친환경 수소를 암모니아로 전환하는 공장을 위한 3 GW의 전해조 용량을 확보했습니다. 이는 최근 MOU와 BEDP 계약을 완료한 후의 결과로, 이번 파트너십은 세계 최대 규모의 친환경 암모니아 생산 시설을 건설하는 것을 목표로 하고 있으며, 2026년 말/2027년 초에 배송될 예정입니다.
AGA의 시설은 호주 북부 준주 고브 반도에 위치하며, 하루 2,700 메트릭 톤의 친환경 암모니아를 생산할 수 있도록 설계되었습니다. 이번 협력은 기존의 증기 메탄 개질 방식을 대체하고, Plug의 고급 전해조를 통해 생성된 친환경 수소로 암모니아 생산의 탈탄소화를 목표로 하고 있습니다. 이 프로젝트는 기존의 탄소 집약적인 방법과 비교했을 때 경쟁력 있게 친환경 수소와 암모니아를 생산할 것으로 예상됩니다.
Plug Power Inc. (NASDAQ: PLUG) a signé un accord cadre contraignant avec Allied Green Ammonia (AGA) pour 3 GW de capacité d'électrolyseurs pour l'usine d'hydrogène vert en ammoniac d'AGA en Australie. Cela fait suite à l'achèvement récent d'un MOU et de contrats BEDP. Le partenariat vise à construire l'une des plus grandes installations de production d'ammoniac vert au monde, avec une livraison prévue fin 2026/début 2027.
L'installation d'AGA, située sur la péninsule de Gove dans le Territoire du Nord de l'Australie, est conçue pour produire environ 2 700 tonnes métriques par jour d'ammoniac vert. La collaboration vise à décarboniser la production d'ammoniac en remplaçant le reformage de méthane à la vapeur conventionnel par de l'hydrogène vert généré grâce aux électrolyseurs avancés de Plug. Ce projet devrait produire de l'hydrogène vert et de l'ammoniac de manière compétitive par rapport aux méthodes conventionnelles à forte intensité de carbone.
Plug Power Inc. (NASDAQ: PLUG) hat eine verbindliche Rahmenvereinbarung mit Allied Green Ammonia (AGA) über 3 GW Elektrolysekapazität für AGAs grünes Wasserstoff-zu-Ammoniak-Werk in Australien unterzeichnet. Dies folgt auf den kürzlichen Abschluss eines MOU und BEDP-Verträgen. Die Partnerschaft zielt darauf ab, eine der größten Produktionsanlagen für grünes Ammoniak der Welt zu bauen, mit Lieferung voraussichtlich Ende 2026/Anfang 2027.
Die Anlage von AGA, die sich auf der Gove-Halbinsel im Northern Territory Australiens befindet, ist darauf ausgelegt, ungefähr 2.700 metrische Tonnen pro Tag grünes Ammoniak zu produzieren. Die Zusammenarbeit zielt darauf ab, die Ammoniakproduktion zu dekarbonisieren, indem die herkömmliche Dampfreformierung durch grünen Wasserstoff ersetzt wird, der durch die fortschrittlichen Elektrolyseure von Plug erzeugt wird. Es wird erwartet, dass dieses Projekt grünen Wasserstoff und Ammoniak wettbewerbsfähig im Vergleich zu herkömmlichen kohlenstoffintensiven Methoden produziert.
- Binding framework agreement signed for 3 GW electrolyzer capacity
- Partnership aims to build one of the world's largest green ammonia production facilities
- Facility designed to produce 2,700 metric tons per day of green ammonia
- Project expected to produce green hydrogen and ammonia competitively compared to conventional methods
- Strategically located facility to cater to growing demand from customers in Asia and Europe
- Delivery of electrolyzer system not expected until late 2026/early 2027
- Final investment decision (FID) still pending
Insights
The binding framework agreement between Plug Power and Allied Green Ammonia (AGA) for 3 GW of electrolyzer capacity is a significant development for Plug Power. This deal positions Plug as a key player in one of the world's largest green ammonia production facilities, potentially leading to substantial revenue growth.
The project's scale is impressive, with AGA's facility designed to produce 2,700 metric tons per day of green ammonia. This capacity suggests a major long-term revenue stream for Plug Power, although specific financial terms are not disclosed. The expected delivery timeline of late 2026/early 2027 indicates that the financial impact will be realized in the medium term.
Investors should note that this agreement follows a recent MOU and BEDP, showing progressive commitment from both parties. The move towards finalizing a sales and purchase agreement signals strong potential for contract execution. However, it's important to monitor the final investment decision (FID) by AGA, which is described as "expected imminently" and will be a critical milestone for project realization.
This deal aligns with the growing global demand for green hydrogen and ammonia, particularly in Asia and Europe, potentially opening up new markets for Plug Power. The company's strategic positioning in this emerging sector could lead to increased market share and improved competitive advantage in the long run.
This partnership represents a significant advancement in green hydrogen technology application. Plug Power's PEM electrolyzer technology is set to replace traditional Steam Methane Reforming (SMR) in ammonia production, marking a major shift towards decarbonization in a notoriously carbon-intensive industry.
The scale of this project - 3 GW of electrolyzer capacity - is remarkable and will likely serve as a proof of concept for large-scale green ammonia production. This could accelerate the adoption of similar technologies globally, potentially creating a ripple effect in the industry.
The strategic location in Australia's Northern Territory leverages abundant renewable energy resources, which is important for the economic viability of green hydrogen production. This aspect addresses one of the key challenges in green hydrogen adoption - the need for low-cost, reliable renewable energy sources.
If successful, this project could demonstrate that green ammonia can be cost-competitive with conventional production methods. This is a critical factor for widespread adoption and could significantly impact the global transition to net-zero emissions in hard-to-abate sectors like fertilizer production and potentially in energy storage and transportation.
This follows recent completion of MOU and BEDP contracts
Both parties are collaborating to finalize purchase agreement in coming months
SLINGERLANDS, N.Y., Oct. 07, 2024 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, has signed a binding framework agreement with Allied Green Ammonia (AGA), an Australian company focused on green ammonia production, to finalize a supply agreement for three gigawatts (GW) of electrolyzer capacity to AGA’s green hydrogen to ammonia plant in Australia.
The framework agreement follows the recently signed MOU and basic engineering and design package (BEDP). Both parties will now move into finalizing the sales and purchase agreement. The partnership between Plug and AGA marks a major step toward building one of the world's largest green ammonia production facilities in the world, with the delivery of Plug’s electrolyzer system expected for the end of the year in 2026/early 2027.
AGA is in the process of developing one of the most globally significant green ammonia production facilities, designed to produce approximately 2,700 metric tons per day (TPD) of green ammonia, leveraging abundant renewable energy resources and a robust energy infrastructure. Strategically located at Gove Peninsula in the Northern Territory of Australia, the facility is positioned to cater to the growing demand from AGA's customers in Asia and Europe, ensuring a reliable and secure supply of green ammonia. Accordingly, this collaboration aims to significantly decarbonize the typical ammonia production process by replacing conventional Steam Methane Reforming (SMR) techniques with green hydrogen generated through Plug's advanced electrolyzers. Combining this technology with AGA’s deep industry experience and technical expertise will enable AGA to produce green hydrogen and ammonia competitively when compared against its conventionally produced non sustainable and carbon intensive counterparts.
“Ammonia producers are recognizing the substantial advantages of cost and carbon reduction through electrolysis-based hydrogen,” said Andy Marsh, CEO of Plug Power. “We’re thrilled to formalize this framework agreement with Allied Green Ammonia who is at the forefront of global hydrogen and ammonia production and facility design. Our extensive experience in constructing and operating large-scale hydrogen facilities, combined with our cutting-edge PEM electrolyzer technology, positions us as the ideal partner for this transformative 3 GW project. Together, we are paving the way for a more sustainable future in green ammonia production, while supporting the global transition to net-zero emissions.”
"At Allied Green, we are excited to leverage Plug’s world leading electrolyzer technology to produce green ammonia, marking a significant step toward our shared vision of a sustainable energy future,” said Alfred Benedict, Chairman & Managing Director of Allied Green. “Our collaboration with Plug Power builds on our team’s substantial work over many years that will enable us to efficiently harness the power of electrolysis-based hydrogen and, drastically reduce carbon emissions in the ammonia production process. The finalization of the supply agreement is one of the last major milestones for our project to progress to final investment decision (FID), which is expected imminently.”
About AGA
AGA is an Australian based company partnering with the world’s leading technology and materials providers to design, develop, construct and operate one of the world’s largest and most efficient green ammonia production facilities.
AGA has secured essential equipment, technology, and offtake agreements to ensure the successful development of project, including Plug’s state-of-the-art electrolyzers, manufactured at its gigafactory in New York.
AGA values the substantial support of its industry stakeholders, the Northern Territory Government, the Australian Government and the local indigenous peoples represented by the Gumatj Corporation. Through these partnerships, AGA aims to deliver a critical piece of infrastructure that is expected to generate thousands of local jobs, saving millions of tonnes of carbon dioxide from being released into the atmosphere and provide the global industry with sustainable, clean and affordable fuels.
For further information, please contact:
info@alliedgreen.com.au
About Plug
Plug is building an end-to-end green hydrogen ecosystem, from production, storage, and delivery to energy generation, to help its customers meet their business goals and decarbonize the economy. In creating the first commercially viable market for hydrogen fuel cell technology, the company has deployed more than 69,000 fuel cell systems and over 250 fueling stations, more than anyone else in the world, and is the largest buyer of liquid hydrogen.
With plans to operate a green hydrogen highway across North America and Europe, Plug built a state-of-the-art Gigafactory to produce electrolyzers and fuel cells and is developing multiple green hydrogen production plants targeting commercial operation by year-end 2028. Plug delivers its green hydrogen solutions directly to its customers and through joint venture partners into multiple environments, including material handling, e-mobility, power generation, and industrial applications.
For more information, visit www.plugpower.com.
Plug Power Safe Harbor Statement
This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties about Plug Power Inc. (“Plug”), including but not limited to statements about Plug’s framework agreement with Allied Green Ammonia (“AGA”), including when or on what terms Plug may finalize a supply agreement with AGA and expected timing for any Plug delivery; AGA’s plans to build one of the world's largest green ammonia production facilities in the world, including production capacity, ability to produce green hydrogen and ammonia competitively and efficiently, ability to reduce carbon emissions and timing of FID. Such statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in these statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Plug in general, see Plug’s public filings with the Securities and Exchange Commission (the “SEC”), including the “Risk Factors” section of Plug’s Annual Report on Form 10-K for the year ended December 31, 2023, Plug’s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2024 and June 30, 2024 and any subsequent filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made as of the date hereof, and Plug undertakes no obligation to update such statements as a result of new information.
MEDIA CONTACT
Fatimah Nouilati
Allison
plugPR@allisonpr.com
FAQ
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