Plug Power Delivers First Electrolyzer for 100MW Green Hydrogen Project at Galp’s Sines Refinery
Plug Power (NASDAQ: PLUG) has delivered its first 10-megawatt (MW) GenEco™ electrolyzer array to Galp's Sines Refinery in Portugal, marking a significant milestone in Europe's largest PEM hydrogen electrolyzer project. This delivery is the first of 10 units to be deployed by early 2026, ultimately reaching a total capacity of 100MW.
The project will produce 15,000 tons of renewable hydrogen annually, replacing 20% of the refinery's grey hydrogen usage and reducing greenhouse gas emissions by 110,000 tons per year. The initiative is part of Galp's €650 million investment announced in September 2023, which includes both the hydrogen electrolysis unit and an HVO/SAF unit.
In Q2, Plug's global electrolyzer programs contributed $45 million to revenue, with over 230MW of GenEco programs across multiple regions. The company maintains a $2 billion global opportunity funnel and expects additional large-scale projects to reach final investment decisions in 2026.
Plug Power (NASDAQ: PLUG) ha consegnato il suo primo array di elettrolizzatori GenEco™ da 10 MW presso la Raffineria Sines di Galp in Portogallo, segnando una tappa significativa nel più grande progetto europeo di elettrolisi PEM dell’idrogeno. Questa fornitura è la prima di 10 unità che saranno messe in servizio entro l’inizio del 2026, con una capacità totale di 100MW prevista.
Il progetto produrrà 15.000 tonnellate di idrogeno rinnovabile all’anno, sostituendo il 20% dell’uso di idrogeno grigio della raffineria e riducendo le emissioni di gas serra di 110.000 tonnellate all’anno. L’iniziativa fa parte dell’investimento di 650 milioni di euro annunciato da Galp nel settembre 2023, che comprende sia l’unità di elettrolisi dell’idrogeno sia una unità HVO/SAF.
Nel secondo trimestre, i programmi globali di elettrolizzatori di Plug hanno contribuito a ricavi di 45 milioni di dollari, con oltre 230MW di programmi GenEco in diverse regioni. L’azienda mantiene un funnel globale di opportunità di 2 miliardi di dollari e si aspetta che ulteriori progetti su larga scala raggiungano decisioni di investimento entro il 2026.
Plug Power (NASDAQ: PLUG) ha entregado su primer conjunto de electrolizadores GenEco™ de 10 MW en la refinería de Sines de Galp en Portugal, marcando un hito importante en el mayor proyecto europeo de electrólisis de hidrógeno PEM. Esta entrega es la primera de 10 unidades que se desplegarán a principios de 2026, con una capacidad total de 100MW prevista.
El proyecto producirá 15,000 toneladas de hidrógeno renovable al año, sustituyendo el 20% del uso de hidrógeno gris de la refinería y reduciendo las emisiones de gases de efecto invernadero en 110,000 toneladas por año. La iniciativa forma parte de la inversión de 650 millones de euros anunciada por Galp en septiembre de 2023, que incluye tanto la unidad de electrólisis de hidrógeno como una unidad HVO/SAF.
En el segundo trimestre, los programas globales de electrólizadores de Plug aportaron aproximadamente 45 millones de dólares en ingresos, con más de 230MW de programas GenEco en diversas regiones. La empresa mantiene un embudo global de oportunidades de 2 mil millones de dólares y espera que otros proyectos a gran escala alcancen decisiones finales de inversión en 2026.
Plug Power(나스닥: PLUG)는 포르투갈 Galp의 Sines 정유공장에 10MW GenEco™ 전해질 배열을 처음으로 납품하며, 유럽 최대의 PEM 수소 전해질 프로젝트에서 중요한 이정표를 달성했습니다. 이 납품은 2026년 초까지 배치될 10대의 유닛 중 첫 번째로, 최종적으로 총 용량 100MW에 도달할 예정입니다.
이 프로젝트는 매년 15,000톤의 재생 수소를 생산하여 정유공장의 회색 수소 사용분의 20%를 대체하고, 연간 온실가스 배출을 110,000톤 감소시킬 것입니다. 이 이니셔티브는 Galp가 2023년 9월에 발표한 6억 5천만 유로 투자의 일부로, 수소 전해질 설비와 HVO/SAF 설비를 포함합니다.
2분기 동안 Plug의 글로벌 전해질 프로그램은 매출 4,500만 달러를 기여했으며, 여러 지역에서 총 230MW 이상의 GenEco 프로그램이 진행되었습니다. 회사는 20억 달러 규모의 글로벌 기회 포털을 유지하고 있으며, 2026년에 최종투자결정(FID)에 도달하는 대규모 프로젝트를 추가로 기대하고 있습니다.
Plug Power (NASDAQ: PLUG) a livré sa première matrice d’électrolyseurs GenEco™ de 10 MW à la raffinerie Sines de Galp au Portugal, marquant une étape majeure dans le plus grand projet européen d’électrolyse PEM de l’hydrogène. Cette livraison est la première de 10 unités qui seront déployées d’ici début 2026, avec une capacité totale de 100 MW à terme.
Le projet produira 15 000 tonnes d’hydrogène renouvelable par an, remplaçant 20 % de l’usage d’hydrogène gris de la raffinerie et réduisant les émissions de gaz à effet serre de 110 000 tonnes par an. L’initiative fait partie de l’investissement de 650 millions d’euros annoncé par Galp en septembre 2023, qui comprend à la fois l’unité d’électrolyse de l’hydrogène et une unité HVO/SAF.
Au deuxième trimestre, les programmes mondiaux d’électrolyseurs de Plug ont contribué à un chiffre d’affaires de 45 millions de dollars, avec plus de 230 MW de programmes GenEco dans plusieurs régions. L’entreprise maintient un funnel d’opportunités global de 2 milliards de dollars et s’attend à ce que d’autres projets à grande échelle aboutissent à des décisions d’investissement finales en 2026.
Plug Power (NASDAQ: PLUG) hat seine erste 10-MW-GenEco™-Elektrolyseur-Anlage am Galp-Sines-Raffinerie in Portugal geliefert und damit einen Meilenstein im größten PEM-Wasserstoff-Elektrolyseprojekt Europas gesetzt. Diese Lieferung ist die erste von 10 Einheiten, die bis Anfang 2026 einsatzbereit sein werden und führt zu einer gesamten Kapazität von 100 MW.
Das Projekt wird 15.000 Tonnen erneuerbaren Wasserstoff pro Jahr produzieren, um 20% des grauen Wasserstoffbedarfs der Raffinerie zu ersetzen und die Treibhausgasemissionen um 125.000 Tonnen pro Jahr zu senken. Die Initiative ist Teil der von Galp im September 2023 angekündigten 650 Millionen Euro Investition, zu der sowohl die Wasserstoff-Elektrolyseeinheit als auch eine HVO/SAF-Einheit gehören.
Im zweiten Quartal trugen Plug's globale Elektrolyseur-Programme 45 Millionen Dollar Umsatz bei, mit über 230 MW GenEco-Programmen in mehreren Regionen. Das Unternehmen hält einen globalen Opportunities-Funnel von 2 Milliarden Dollar und erwartet, dass weitere Großprojekte im Jahr 2026 endgültige Investitionsentscheidungen treffen.
Plug Power (بورصة ناسداك: PLUG) سلمت لأول مرة صفيفات كهرباء التحلل GenEco™ بسعة 10 ميغاواط إلى مصفاة Sines التابعة لـ Galp في البرتغال، وهو علامة فارقة في أكبر مشروع لمحطة التحلل PEM للهيدروجين في أوروبا. هذه الشحنة هي الأولى من عشر وحدات ستوضع في الخدمة بحلول مطلع 2026، وبناءً عليه ستصل القدرة الإجمالية إلى 100MW.
سيُنتَج المشروع 15,000 طن من الهيدروجين المتجدِّد سنوياً، ليحل محل 20٪ من استخدام المصفاة للهيدروجين الرمادي ويقلل انبعاثات غازات الدفيئة بمقدار 110,000 طن سنوياً. المبادرة جزء من استثمار بقيمة 650 مليون يورو أعلنت عنهGalp في سبتمبر 2023، ويشمل كل من وحدة التحليل الهيدروجيني ووحدة HVO/SAF.
في الربع الثاني، ساهمت برامج المحللات الكهربائية العالمية من Plug في إيرادات قدرها 45 مليون دولار، مع أكثر من 230MW من برامج GenEco عبر عدة مناطق. تحتفظ الشركة بطوف فرص عالمي يقدر بـ 2 مليار دولار وتتوقع أن تصل مشاريع كبرى إضافية إلى قرارات الاستثمار النهائية في 2026.
Plug Power（纳斯达克股票代码：PLUG） 已向葡萄牙 Galp 的 Sines 炼油厂交付其首批 10 兆瓦（MW）GenEco™ 电解制氢阵列，标志着欧洲最大的 PEM 电解制氢项目取得了重要里程碑。此次交付为< b>到2026年初将部署的10台设备中的第一台，最终实现总容量100MW。
该项目将每年生产15,000 吨可再生氢气，替代炼油厂20%的灰氢使用并将温室气体排放量降低至每年11万吨。这一倡议是 Galp 在2023年9月宣布的6.5亿欧元投资的一部分，既包括氢气电解单元，也包括一台 HVO/SAF 单元。
在第二季度，Plug 的全球电解装置计划为公司贡献了4500万美元的收入，在多个地区，总计有超过230MW的 GenEco 计划在推进。公司维持一个全球机会漏斗，规模约为20亿美元，并预计2026年将有更多大型项目做出最终投资决定。
- None.
- Project completion not expected until first half of 2026
- Only replaces 20% of current grey hydrogen usage at the refinery
Insights
Plug Power's delivery of its first 10MW electrolyzer to Galp marks significant commercial progress in its largest global project with material revenue implications.
Plug Power has reached a critical milestone by delivering the first 10MW GenEco™ electrolyzer array to Galp's Sines Refinery in Portugal, representing the initial phase of what will become a 100MW green hydrogen project - one of Europe's largest PEM electrolyzer deployments. This isn't just a prototype or pilot; it's the first of ten units scheduled for complete installation by early 2026.
The financial implications are substantial. This installation is part of Galp's larger
What's particularly noteworthy is that this project represents actual revenue generation, not just future potential. Plug's Q2 results already show
The commercial significance extends beyond this single installation. By successfully executing a large-scale industrial deployment that meets refinery operational demands, Plug is positioning itself as a credible provider for the oil and gas sector - a massive potential market where
With multiple large-scale projects approaching final investment decisions in 2026 and expanding operations across Europe, the UK, and Australia, this delivery signals Plug's transition from technology development to commercial-scale deployment and revenue generation in the growing hydrogen economy.
- The 10MW module is the first of 10 units to be deployed at the Sines Refinery for a total capacity of 100MW, one of the very few projects underway in Europe at this scale.
- The Sines project is an important first step in the decarbonization of the Sines Refinery and of key industries that are difficult to electrify.
SLINGERLANDS, N.Y., Oct. 01, 2025 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the hydrogen economy, today announced the delivery of its first 10-megawatt (MW) GenEco™ electrolyzer array to Galp (OTCMKTS: GLPEY), Portugal’s leading integrated energy company. The array was delivered to Galp’s Sines Refinery, home of the largest proton exchange membrane (PEM) hydrogen electrolyzer project underway in Europe.
The module is the first of 10 similar arrays with Hydrogen Processing Units (HPUs) to be delivered on site by early 2026 to deploy a total electrolyzer capacity of 100MW upon completion, in the first half of next year.
This project, Plug’s largest worldwide, will produce up to 15,000 tons of renewable hydrogen per year, replacing 20 percent of the grey hydrogen currently used at the Sines Refinery. This switch will reduce the Refinery’s greenhouse gas emissions by approximately 110,000 tons per year (Scope 1 and 2, CO2e).
“Plug is building the next generation of industrial energy solutions, and our collaboration with Galp shows that large-scale hydrogen is ready today,” said Andy Marsh, CEO, Plug. “This system will be a model for what’s possible across Europe’s refining sector and the broader energy industry.”
“Half of all grey hydrogen demand sits today in refineries and chemical plants,” said Ronald Doesburg, Galp’s EVP in charge of the Industrial business unit. “With our first 100 MW, we will have started the decarbonisation of our Sines refinery. It’s a decisive first step for Galp, but also for the industry,” he added.
Galp decided in September of 2023 to build a 100MW green hydrogen electrolysis unit and an HVO/SAF unit in its refinery, in a combined
Plug’s GenEco electrolyzer array is supported by a global supply chain and integrates components manufactured across several continents, including the U.S. and Europe. This approach combines regional manufacturing expertise with high-volume scalability to meet surging demand for clean hydrogen produced by PEM technology.
Plug has strengthened its expertise in the oil and gas sector through the acquisition of Frames Group, bringing more than 35 years of experience in process systems, gas treatment, and energy infrastructure. For the oil and gas market broadly, this project demonstrates that hydrogen can be deployed at a scale and pace that meets the industry’s operational demands, supports refinery decarbonization, and positions producers to stay competitive as low-carbon fuels grow their market share.
Europe is one of Plug’s top strategic markets and the company is advancing multi-gigawatt electrolyzer deployments in Spain, the U.K., and beyond, supported by a
About Galp
Galp is an energy company committed to developing efficient and sustainable solutions in its operations and in the integrated offers it provides to its customers. We create simple, flexible, and competitive solutions for the energy or mobility needs of both large industries and small and medium-sized enterprises, as well as the individual consumer. Our offer includes various forms of energy – from electricity produced with renewable sources to natural gas and liquid fuels, including low carbon fuels. As a producer, we extract oil and natural gas from reservoirs located kilometers below the sea surface, and we are also one of the main Iberian producers of solar-based electricity. We contribute to the economic development of the nine countries where we operate and to the social progress of our host communities. We are, therefore, leaders in our sector in the main global sustainability indices. Galp directly employs more than 7,000 people.
More information at www.galp.com.
About Plug Power
Plug is building the global hydrogen economy with a fully integrated ecosystem spanning production, storage, delivery, and power generation. A first mover in the industry, Plug provides electrolyzers, liquid hydrogen, fuel cell systems, storage tanks, and fueling infrastructure to industries such as material handling, industrial applications, and energy producers—advancing energy independence and decarbonization at scale.
With electrolyzers deployed across five continents, Plug leads in hydrogen production, delivering large-scale projects that redefine industrial power. The company has deployed over 72,000 fuel cell systems and 275 fueling stations and is the largest user of liquid hydrogen. Plug is rapidly expanding its generation network to ensure reliable, domestically produced supply, with hydrogen plants currently operational in Georgia, Tennessee, and Louisiana, capable of producing 40 tons per day.
With employees and state-of-the-art manufacturing facilities across the globe, Plug powers global leaders like Walmart, Amazon, Home Depot, BMW, and BP.
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 ability to build and deploy the next generation of industrial energy solutions and meet the demand for clean hydrogen produced by PEM technology; continued or anticipated successful deployment of large-scale electrolyzer projects; electrolyzer projects reaching final investment decisions in 2026; advancement of multi-gigawatt electrolyzer deployments in Europe; and solidification of Plug’s leadership position in delivering modular, high-performance hydrogen systems. 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, 2024 and Plug’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 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
Teal Hoyos
media@plugpower.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1520e7b6-0149-4c93-aef1-14b93aae9524
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