Plug Power Extends Key Hydrogen Partnership, Powering Future Growth Through 2030

Plug Power Inc. PLUG announced Wednesday it has renewed and expanded a multi-year hydrogen supply agreement with a longtime U.S.-based industrial gas partner, extending their collaboration through 2030.

Under the new deal, the partner will continue providing liquid hydrogen at reduced prices while working with Plug to streamline distribution. The agreement aims to cut costs, enhance operational flexibility, and improve cash flow as Plug scales its hydrogen infrastructure.

“This contract is a win for Plug, our customers, our suppliers, and our margin profile,” said CEO Andy Marsh, who added that cost efficiency and reliable supply are essential to supporting growth.

Also Read: Trump’s Hydrogen Lifeline Could Revive Plug Power’s Stalled Plans

Plug currently supports over 275 hydrogen-consuming sites and plans to add more than 40 new ones in 2025. The company also operates hydrogen plants in Georgia, Tennessee, and Louisiana, collectively producing 40 tons of liquid hydrogen per day. More facilities are under development to meet surging demand across industrial sectors.

The announcement follows the passage of federal legislation aimed at accelerating U.S. clean hydrogen development. That policy backdrop, combined with Plug’s deepening partnerships, underscores the momentum behind domestic hydrogen production.

Price Action: PLUG shares were trading higher by 2.14% to $1.45 premarket at last check Wednesday.

Read Next:

• Trump Slams Democrats Over Inflation Narrative, Says He Cut Costs’ More Than Any President In History’

Image via Shutterstock