Plug Power announced the sale of a federal investment tax credit for approximately $39.2 million related to its hydrogen liquefaction facility in St. Gabriel, Louisiana. The transaction is part of the company's strategy to improve liquidity and unlock value from its domestic hydrogen generation infrastructure. The St. Gabriel plant, operated through a joint venture with Olin Corporation, was commissioned in April 2025 and is one of North America's largest hydrogen liquefaction facilities. This follows a similar $30 million tax credit transfer completed in January 2025 for the company's facility in Woodbine, Georgia. Plug Power currently maintains roughly 40 tons per day of liquid hydrogen production capacity across its operational facilities in Georgia, Tennessee, and Louisiana.
Plug Power IncPlug Power sells $39.2M tax credit, improving liquidity and unlocking value from hydrogen assets.
Olin CorporationOlin's joint venture facility benefits from tax credit sale, improving project liquidity.