Plug Power (PLUG) said Thursday it finalized a $1.66 billion loan guarantee from the US Department of Energy to support its hydrogen production expansion.
The loan will allow up to six projects producing low-carbon hydrogen, with the first plant in Graham, Texas, benefiting from the funds, the company said.
Plug added that the Texas facility, supported by a nearby wind farm, will utilize Plug's electrolyzer stacks and liquefaction systems.
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