World-Class Green Ammonia Production: Plug Signs Mou For Supply of 3 GW Electrolyzers

Latham, USA - US fuel cell and hydrogen specialist Plug Power has signed a Memorandum of Understanding (MOU) with Allied Green Ammonia (AGA), an Australian company focused on green ammonia production.

The agreement covers the supply of plug-power electrolysers with a capacity of up to 3 GW. The electrolysers are intended for use in AGA's planned hydrogen ammonia plant, which is planned for the Northern Territory of Australia.

Building on the MoU, Plug and AGA are seeking an agreement to initiate a Basic Engineering and Design Package (BEDP) for the 3 GW capacity project. The Final Investment Decision (FID) is planned for the fourth quarter of 2025 and phased delivery of the 3 GW electrolyzers is scheduled to commence in the first quarter of 2027.

“This agreement, in light of Plug’s unrivalled expertise and complementary technologies, is a strong vote of confidence in our capabilities and a significant milestone in the planned delivery of Allied Green’s facility, which will be one of the most energy efficient green hydrogen and green ammonia projects globally,” said Alfred Benedict, Founder and CEO of AGA, welcoming the agreement.

AGA's production facility is expected to have a synthesis capacity to produce 2,500 tons per day (TPD). The facility will utilize abundant renewable energy resources and strong energy infrastructure, with the proposed Gove Peninsula site strategically aligned with Asian trading partnerships. The facility is geographically positioned to meet the growing needs of AGA's proposed customers, providing them with a reliable and secure supply of green ammonia from the region.

Plug is the leading manufacturer of PEM electrolyzers and currently operates the largest PEM electrolyzer plant in the United States at its 15 TPD Georgia Hydrogen facility. This announcement follows Plug's recent announcement of BEDP contracts totaling 4.5 GW in the United States and Europe.

Plug Power shares were among the best performing RENIXX stocks last week, gaining 12.3% to EUR 2.55 (closing price, May 3, 2024, Stuttgart Stock Exchange). In yesterday's trading, the share traded lower and stood at EUR 2.5 at the close of trading, down 2% (closing price, 06.05.2024, Stuttgart Stock Exchange).

Source: IWR Online, 07 May 2024