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Plug Power secures loan guarantee for USD1.66bn from American government for hydrogen production

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By Bradley Osborne - 27th January 2025

USA – Plug Power Inc, a fuel cell manufacturer and producer of hydrogen fuel based in Latham, New York, has secured a loan guarantee from the U.S. Department of Energy, amounting to USD1.66bn towards large-scale hydrogen production.

Plug Power says the loan will help to finance the construction of up to six projects to produce and liquefy hydrogen across America. The first project to benefit from this money will be a site in Graham, Texas, where an electrolyser will produce hydrogen with power from a nearby wind farm.

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