LATHAM, N.Y., July 12, 2022 (GLOBE NEWSWIRE) — Plug Power Inc. (NASDAQ: PLUG), a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, has been awarded a contract to deliver a 5 megawatt (MW) containerized proton exchange membrane (PEM) electrolyzer system to international energy company Irving Oil for the production and distribution of hydrogen at its Saint John, New Brunswick refinery, the largest in Canada.
Irving Oil will use the electrolyzer to help with its goal of shifting its hydrogen production to low-carbon, or green hydrogen in the future – with the investment of the electrolyzer as an important first step on this journey. This supports the company’s commitment to leadership through the energy transition, reducing greenhouse gas emissions, and developing more sustainable energy solutions.
Initially, Plug’s electrolyzer technology, powered by the local electricity grid, will enable Irving Oil to produce 2 tonnes of hydrogen per day for refining and mobility applications. Plug’s electrolyzer systems help customers shift hydrogen production to carbon-free green hydrogen over time.
“Demand for green hydrogen is growing because companies that have relied on other forms of hydrogen are recognizing the viability of achieving net-zero carbon emission targets,” Andy Marsh, CEO of Plug, said. “Driven by our leading electrolyzer technology and unparalleled manufacturing capacity, we are honored that Irving Oil has chosen Plug to support its initial investment in electrolytic hydrogen production. We look forward to expanding the partnership.”
Irving Oil’s initial investment in a 5 MW unit offers the opportunity to explore the role of electrolyzer technology in driving emissions reductions at the Saint John refinery while also unlocking important new market opportunities, such as making hydrogen available for regional customers.
“We believe that low-carbon hydrogen production, use, and distribution will play an important role in our decarbonization journey,” said Irving Oil President Ian Whitcomb. “This foundational project will accelerate our company’s learning about hydrogen as a downstream product while creating a decarbonization pathway for our Saint John refinery.”
Plug’s 5 MW containerized electrolyzer system for the Saint John, New Brunswick refinery will be manufactured at Plug’s Gigafactory in Rochester, N.Y., the world’s first and largest PEM fuel cell and electrolyzer manufacturing Gigafactory. Following manufacturing, deployment of the technology at the oil refinery is expected in Q3 2023, and hydrogen production is expected to be fully operational by late 2023.
Plug has been a leader in PEM electrolysis technology for nearly 50 years and was recently named the number one hydrogen electrolyzer company by Guidehouse Insights. In May 2022, Plug secured the world’s largest electrolyzer order to date with H2 Energy Europe.