News Formal

Plug Power to build up to six new hydrogen plants for EV industry, after getting US$1.66-billion loan guarantee

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 92%

Energy News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

The hydrogen fuel from the plants is expected to power fuel cell-electric vehicles used in material handling, transportation, and heavy industry

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Trump poised to clinch US$1.- billion social media company stock awardBonus is equivalent to about half the majority stake he already owns in it
Source: globeandmail - 🏆 5. / 92 Read more »