Plug Proves European Hydrogen Supply and Delivery Capabilities; Successfully Completes Deliveries to H2CAST Project, Signs New Contract for Additional 35 Tons

On-time, successful delivery demonstrates scalability of Plug’s European hydrogen production capacity and trucking fleet to support Germany’s energy transition

SLINGERLANDS, N.Y., Oct. 21, 2025 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the hydrogen economy, today announced the completion of the first phase of its hydrogen supply delivery of 44.5 metric tons for H2CAST (Hydrogen Cavern Storage Transition), a joint project led by Gasunie and STORAG ETZEL in Germany. Gasunie is an energy-infrastructure company and operator of gas pipelines in the Netherlands and North West Germany and STORAG ETZEL is the largest independent supplier of cavern storage facilities in Germany. The initiative is repurposing two existing salt caverns into underground storage for renewable hydrogen. Such projects are critical to advancing the energy transition, as salt caverns enable seasonal and high-capacity storage. They provide essential services such as grid balancing and flexibility for renewable energy integration, while ensuring a continuous supply of hydrogen to industrial users. This approach contributes to the development of the broader European hydrogen infrastructure.

From April to August, 2025, Plug safely delivered hydrogen to the H2CAST salt cavern, meeting delivery timelines and proving the viability of large-scale hydrogen transport and storage in Germany. Following this successful pilot, Plug was awarded a second delivery mandate for an additional 35 metric tons of hydrogen to the same project H2CAST. Plug will continue to source the hydrogen from Hy2Gen ATLANTIS, the electrolyzer facility in Werlte, Germany, where Plug holds exclusivity on 100% of the green hydrogen produced.

“The success of our recent projects in Germany with H2CAST show that hydrogen works, and that it is scalable for strategic national energy requirements,” said Jose Luis Crespo, President and CRO of Plug. “Plug’s ability to deliver hydrogen on time, at volume, and with our own transport and delivery equipment for our customers underscores Plug’s leadership in Europe’s fast-growing hydrogen economy.”

Plug’s execution in Germany reflects the company’s broader corporate objective: building unmatched hydrogen production and fleet capacity across the European Union. With a fleet of 36 Multi Element Gas Containers (MEGCs)—rated at 350/380 bar pressure standards —Plug has established a flexible, scalable delivery capability. Plug continues to expand its hydrogen production capacity in Europe, underscoring the market demand for Plug’s vertically-integrated approach to meeting hydrogen customer needs.

The H2CAST project expansion also demonstrates Plug’s engineering strength. The company designed a dedicated unloading skid for the facility, developed by its Netherlands-based team, bridging trailer operations directly into the customer’s existing infrastructure. This ability to quickly offer tailored solutions not only ensures seamless delivery, but also enables customers to maximize the commercial value of hydrogen.

By delivering green hydrogen production and delivery capacity, Plug is proving that hydrogen is not only viable but ready to play a central role in Europe’s energy mix. These milestones in Germany serve as a cornerstone for Plug’s expanding European operations—reinforcing it as a global industrial gas company and a leading participant in the hydrogen ecosystem worldwide.

About Plug Power
Plug is building the global hydrogen economy with a fully integrated ecosystem spanning production, storage, delivery, and power generation. A first mover in the industry, Plug provides electrolyzers, liquid hydrogen, fuel cell systems, storage tanks, and fueling infrastructure to industries such as material handling, industrial applications, and energy producers—advancing energy independence and decarbonization at scale.

With electrolyzers deployed across five continents, Plug leads in hydrogen production, delivering large-scale projects that redefine industrial power. The company has deployed over 72,000 fuel cell systems and 275 fueling stations and is the largest user of liquid hydrogen. Plug is rapidly expanding its generation network to ensure reliable, domestically produced supply, with hydrogen plants currently operational in Georgia, Tennessee, and Louisiana, capable of producing 40 tons per day.

With employees and state-of-the-art manufacturing facilities across the globe, Plug powers global leaders like Walmart, Amazon, Home Depot, BMW, and BP.

For more information, visit www.plugpower.com.

Safe Harbor
This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties about Plug Power Inc. (“Plug”), including but not limited to statements about: whether projects such as this H2CAST project advance the energy transition or contribute to the development of the broader European hydrogen infrastructure; the ability for salt cavern hydrogen storage to support essential services such as grid balancing and flexibility for renewable energy integration or support continuous supply of hydrogen to industrial users; Plug’s contribution to the development of the broader European hydrogen infrastructure; availability of hydrogen from Hy2Gen ATLANTIS, the electrolyzer facility in Werlte, Germany; Plug’s ability to deliver hydrogen on time, at volume, and with its own transport and delivery equipment for its customers; the status of Plug’s expansion of hydrogen production capacity in Europe; the success of Plug’s vertically-integrated approach to meeting hydrogen customer needs; and Plug’s continued ability to offer tailored solutions and to maximize the commercial value of hydrogen. Such statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in these statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Plug in general, see Plug’s public filings with the Securities and Exchange Commission (the “SEC”), including the “Risk Factors” section of Plug’s Annual Report on Form 10-K for the year ended December 31, 2024 and Plug’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 and any subsequent filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made as of the date hereof, and Plug undertakes no obligation to update such statements as a result of new information.

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