The U.S. Energy Department on Tuesday said it has offered a conditional loan guarantee of up to $1.66-billion to Plug Power Inc, the department’s office of loan programs said.
The administration of President Joe Biden believes that low-carbon hydrogen can fight climate change by fueling heavy industry such as aluminum, cement and steel and long-haul transportation. The clean hydrogen plants will use Plug Power’s technology – called electrolyzer stacks – manufactured at the company’s factory in Rochester, New York. Plug Power is one of the top U.S. commercial-scale manufacturers of electrolyzers.
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