Plug, Olin to jointly build green hydrogen plant in Louisiana
Plug Power hydrogen delivery truck. Source: Plug Power Inc.
US turnkey hydrogen solutions provider Plug Power Inc (NASDAQ:PLUG) said today it is launching a joint venture with chlor alkali producer Olin Corporation (NYSE:OLN) to build a 15-tonne-per-day green hydrogen plant in St Gabriel, Louisiana.
The new Hidrogenii JV will be the face of a partnership in which Plug will exclusively market the plant’s output and provide logistical support for delivery, while Olin will contribute with reliable hydrogen supply and operational expertise.
“The Hidrogenii venture advances our commitment to transform Olin’s hydrogen business into a value stream as we seek to grow the value of our 150,000 metric tons of annual hydrogen production capacity,” said Scott Sutton, Olin Chairman, president and CEO.
The St Gabriel hydrogen production facility will be supported with state and local tax subsidies. Its construction is seen to open 160 jobs in 2022 and 215 jobs next year, while its operation will create over 25 permanent full-time positions.
The new plant will further expand Plug’s national hydrogen facilities network, which currently includes sites in various planning and construction phases in New York, Tennessee, Georgia, Texas and California. The company anticipates producing 500 tonnes per day of liquid green hydrogen by 2025 and 1,000 tonnes by 2028.
Also on Wednesday, Plug announced a deal with third-party food logistics company FreezPak Logistics to provide fuel cells and hydrogen storage and fuelling infrastructure to nine additional sites and almost 400 lift trucks. FreezPak Logistics has been a Plug customer since 2014 and already has three sites relying on its offerings.