Plug Power, renowned for its pioneering role in hydrogen solutions, has secured multiple contracts to supply cutting-edge cryogenic equipment to prominent industrial and utility companies. These agreements underscore Plug's pivotal position in the green hydrogen economy and its commitment to enhancing cryogenic technology applications.
In collaboration with a multinational industrial gas company, Plug is slated to deliver five state-of-the-art cryogenic trailers to facilitate the transport of essential gases like nitrogen, argon, and oxygen across the Canadian market. Scheduled for early 2025, these deliveries mark a significant advancement in cryogenic logistics.
Separately, Plug has received a purchase order from a statewide electric utility company for LNG cryogenic mobile storage equipment. Designed for efficient storage and dispensing of liquefied natural gas, these units are expected to commence delivery in Q4 of 2024, reinforcing Plug's foothold in energy storage solutions.
Furthermore, Plug has finalized negotiations with another leading industrial gas company to supply eight additional cryogenic trailers, destined for the U.S. and Canadian markets. Scheduled for deployment in the latter half of 2025, these trailers will bolster the seamless transportation of industrial gases, enhancing logistical efficiencies.
Andy Marsh, CEO of Plug Power, highlighted the company's expertise in cryogenic solutions, emphasizing their comprehensive portfolio encompassing liquid storage tanks, delivery trailers, vaporizers, and integrated control systems. These capabilities are pivotal in forging enduring partnerships and meeting the growing demand for gas product transportation through liquefaction and truck trailer solutions.
In parallel with its domestic expansions, Plug is actively expanding its international footprint. Following its landmark achievement of securing the first international PEM electrolyzer certification in Korea, Plug has now attained Korean Gas Safety certification. This milestone enables Plug to manufacture ASME Section XII and ASME Section VIII Div. 1 compliant bulk liquid hydrogen storage tanks and transport trailers, thereby catering to the burgeoning South Korean market.
Recently, Plug transported three liquid hydrogen bulk storage tanks to South Korea, with the first liquid hydrogen trailer set to follow this month. Manufactured in Houston, TX, these specialized tanks and trailers are tailored to meet stringent Korean regulatory standards, highlighting Plug's commitment to global cryogenic infrastructure development.
Plug Power's strategic growth trajectory includes its 2021 acquisition of Applied Cryo Technologies, which enriched its capabilities in liquefied gas transportation, storage, and distribution technologies. Today, Plug stands at the forefront of cryogenic equipment manufacturing, boasting the industry's lightest cryogenic trailers optimized for superior over-the-road payloads, ensuring efficient and sustainable transport of liquid gases across North American highways.
