Plug Receives Industry Certification for its High-Powered Stationary System

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Third-party verification will accelerate the implementation of backup power, EV charging and mains power solutions for customers

LATHAM, N.Y., June 20, 2024 (GLOBE NEWSWIRE) — Plug Power Inc. has acquired (NASDAQ: PLUG), the global leader in end-to-end hydrogen solutions for the green hydrogen economy, has achieved industry certification for its 1 MW high-power stationary plants. System.

Plug has certified its high-power stationary system to the US National Standards Institute/CSA Group's FC 1-2021 standard, which covers the safe operation, performance, and construction of stationary fuel cell power systems.

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Fixed Plug systems provide a zero-emission solution and reliable power where and when needed. Whether for backup, intermittent or continuous power, these systems provide power flexibility and independence so business operations can continue to run smoothly.

Supported by industry-leading third-party certification, customers ranging from large-scale data centers and electric vehicle (EV) charging stations in grid-constrained areas to microgrid applications that power local networks during PSPS (Public Safety Power Shutdown) events can now To fast track the implementation of a high-power fixed system from Plug.

Andy Marsh, CEO of Plug, said: “We are delighted to have achieved this important certification and look forward to supporting the decarbonisation goals of energy producers.” “This certification represents another major milestone in the build-out of our stationary energy solutions and is expected to drive increased demand for our green hydrogen.”

In building the stationary power market, Plug has generated great momentum as follows:

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• Backup power for high-volume data centers requiring tens to hundreds of megawatts: Plug entered this market with a 3-MW zero-emissions unit backup system for Microsoft.
• Operating small networks: Plug is working with Energy Vault on a first-of-its-kind application that supports California's PSPS initiative by creating a zero-emission plant.
• Operating EV fleets when the grid is unavailable or too expensive: Plug installed a 2-megawatt unit to charge more than 200 fleet vehicles at a customer site.

With this certification, Plug will continue to expand its high-energy stationary system, which has significant growth potential in Baker's clean plant operations. Hydrogen's scalability and extended capabilities make it pivotal in meeting the demands of this large market.

For more information about Plug's stationary power solutions, please visit https://www.plugpower.com/applications/stationary-power/.

About the ingredients

Plug is building an end-to-end green hydrogen ecosystem, from production, storage and delivery to power generation, to help its customers achieve their business goals and decarbonize the economy. Creating the first commercially viable market for hydrogen fuel cell technology, the company has deployed more than 69,000 fuel cell systems and more than 250 fueling stations, more than any other company in the world, and is the largest buyer of liquid hydrogen.

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With plans to operate a green hydrogen highway across North America and Europe, Plug has built a state-of-the-art Gigafactory for the production of electrolyzers and fuel cells and is developing several green hydrogen production plants targeting commercial operation by the end of 2028. It delivers green hydrogen solutions directly to its customers and through… Joint venture partners in multiple environments, including material handling, e-mobility, power generation, and industrial applications.

For more information visit www.plugpower.com.

Safe power delivery statement

This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties about Plug Power Inc. (“Plug”), including but not limited to statements about: Plug’s belief that third-party verification will accelerate the implementation of backup power, EV charging and primary power solutions for customers; Plug's belief that its fixed systems provide reliable power where and when it is needed so that business operations can continue to run smoothly; Plug forecasts that US National Standards Institute/CSA FC 1-2021 certification will lead to increased demand for green hydrogen; Plug expects that it will continue to expand its high-energy fixed system and be positioned for significant growth potential in its clean Baker plant operations. Such statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in such statements. For a further description of the risks and uncertainties that could cause actual results to differ from those contained in these forward-looking statements, as well as risks related to Plug's business generally, see Plug's public filings with the Securities and Exchange Commission (“SEC”), including the section ” Risk Factors” in Plug's Annual Report on Form 10-K for the year ended December 31, 2023, Plug's Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 and any subsequent reporting filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are made as of the date hereof, and Plug undertakes no obligation to update these statements as a result of new information.

Media contact

Fatima Al-Nawailati
Alison
plugPR@allisonpr.com

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