New Fortress Energy to enter green hydrogen sector with Plug's help

Natural gas infrastructure operator New Fortress Energy Inc (NASDAQ:NFE) is getting ready for its first green hydrogen investment through the signing of a deal for a 120-MW project in Texas that will be scalable to almost 500 MW.

The company said in a statement it has contracted Plug Power Inc (NASDAQ:PLUG) to provide its proton exchange membrane (PEM) electrolysis technology for the project, which will be realised on the banks of the Neches River in Jefferson County, near Beaumont.

Initially, the plant will be able to produce over 50 tonnes of green hydrogen per day and with the development of additional supporting infrastructure, its capacity could expand to half a gigawatt, according to the announcement.

The location has been chosen so that the facility is in proximity to industrial end-users and has access to reliable power and superior logistics. This includes rail, marine and existing pipelines that span the US Gulf Coast region.

“Amid an increasingly favourable US policy environment for hydrogen, we are focused on scalable solutions that have a real impact on decarbonization and believe we are uniquely positioned to be an early mover in this vast and rapidly evolving market,” said Wes Edens, chairman and CEO of New Fortress Energy.

Plug’s own chief executive Andy Marsh said that the company intends to replicate this project’s model in other locations across the country. He recently spoke to Renewables Now about the green hydrogen sector and Plug’s growth.

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