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Plug Power Expands with New Innovation Center

Latham, USA - Plug Power will establish a new Innovation Center in the U.S. state of New York. The Innovation Center is part of the company's strategic direction to accelerate the development of fuel cell and hydrogen technology.

The new center is expected to support the expansion of the fuel cell and hydrogen industry and spur the development of the local economy with green jobs.

The innovation center is expected to be operational by mid-2021. It represents a significant expansion of the company's fuel cell and electrolyzer production and manufacturing capabilities and will also house research and development for MEAs and fuel cell stacks.

„We are thrilled to expand in our home state of New York, announcing Monroe County as the location for the world’s first PEM stack and electrolyzer Plug Power Innovation Center,” said Plug Power CEO Andy Marsh. Among the many options under consideration, none matched Rochester in terms of talented employees, local supplier networks and opportunities to collaborate with top-tier research institutions, according to Plug Power. "With this decision, we are positioning the company and the region as global leaders in PEM technology, driving scale and industry transformation“, Marsh added. As the innovation center is implemented, Plug Power will invest $125 million in the local economy, create 375 jobs and bring material and component suppliers to the region. The Plug Gigafactory is expected to become a world-class technology research and development center. In addition, Plug Power plans to supply local commercial fleets with green hydrogen produced on site.

The Plug Power Innovation Center is part of a broader company strategy to accelerate the development of hydrogen technology. With a capacity of more than one gigawatt of electrical output, the center will produce an estimated 7 million MEAs/plates, 60,000 stacks, and electrolyzers with a capacity of 500 megawatts (MW) per year. Plug Power will rely on the application of advanced manufacturing techniques such as high-speed lamination, automated metal plate stamping, laser welding and robotic gasketing.

Plug Power welcomes Ole Hoefelmann, experienced general manager for electrolyzer business

Plug Power also announced that Ole Hoefelmann has joined the company as general manager (GM) of its electrolyzer business. Hoefelmann will be responsible for sales, product management, product development and business strategy for Plug Power's PEM electrolyser offering. Hoefelmann spent 30 years with Air Liquide S.A. in management positions, with extensive international experience in the U.S., Korea, France, Spain, Portugal and Germany. In his roles, Hoefelmann managed nearly 3,000 employees, developed commercialization strategies to scale hydrogen fuel production from small-scale to high-volume production, influenced safety education and protocols, and accelerated growth in new markets, including transportation. Hoefelmann also created the Hydrogen Energy Americas organization with the purpose of developing a strong presence in the fuel cell energy transportation sector.

Plug Power share price in calmer waters after record run

The share price of RENIXX company Plug Power exploded in the first two weeks of the year, rising more than 115 percent to an interim high for the year of 59.43 euros. Since then, the development has calmed down. In yersterday's trading, Plug Power shares gained 1.3 percent to 52.28 euros (Jan. 21, 2021, Stuttgart Stock Exchange).

Source: IWR Online, 22 Jan 2021