Plug Power and Allied Biofuels Expand Partnership in Uzbekistan to Deploy Up to 2 GW of GenEco PEM Electrolyzers for Landmark eSAF Project

Agreement Strengthens Plug’s Global Portfolio of Utility-Scale Hydrogen and Sustainable Fuel Developments

SLINGERLANDS, N.Y., Oct. 30, 2025 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the hydrogen economy, today announced the execution of a binding supply agreement with Allied Biofuels FE LLC (ABF) for up to 2 gigawatts (GW) of Plug’s GenEco PEM electrolyzer systems. The agreement supports ABF’s development of sustainable aviation fuel (SAF), electro-sustainable aviation fuel (eSAF) and green diesel, with a final investment decision expected in the fourth quarter of 2026.

Building on the previously announced 3 GW collaboration with Allied Green Ammonia (AGA) in Australia, this new supply agreement with Allied Biofuels FE LLC (ABF) brings the total contracted electrolyzer capacity between Plug and its Allied partners to 5 GW across two landmark projects. Plug’s technology will power ABF’s flagship SAF and eSAF facility in Uzbekistan, a strategically located site designed to serve global sustainable fuel markets.

The agreement was signed in Australia during Plug CEO Andy Marsh’s visit to the region, where he met with project developers and energy partners to advance additional hydrogen and liquid-fuel opportunities. The signing represents one of the largest electrolyzer supply agreements announced in 2025, underscoring Plug’s growing role in enabling large-scale renewable fuel production across the Central Asia region.

“This agreement is proof that Plug delivers on what others are still planning,” said Andy Marsh, CEO of Plug Power. “We’re turning hydrogen commitments into real, operating projects at multi-gigawatt scale. Signing this supply agreement in Australia highlights our deep engagement in the global hydrogen economy and our ability to provide proven electrolyzer technology for SAF and eSAF production and decarbonization.”

“At Allied Biofuels, our mission is to deliver reliable, low-carbon fuel solutions to global markets,” said Alfred Benedict, Chairman of Allied Biofuels. “Partnering with Plug’s world-class electrolyzer platform ensures we can achieve the scale, reliability, and performance our customers expect. Finalizing this supply agreement marks a major milestone as we progress toward FID.”

Plug’s growing global presence, including the Asia-Pacific and Central Asia regions, reinforces its position as a leading provider of electrolyzers for renewable fuel and hydrogen-based energy transition projects. In addition to the above commitment, Plug is advancing hydrogen and fuel-cell deployments in South Korea, India, and Japan, helping nations integrate clean hydrogen into power generation, fuel synthesis, and industrial applications.

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. 

About Allied Biofuels (ABF)

Allied Biofuels FE LLC (ABF) is a Central Asia–based sustainable fuels company developing a world-scale integrated biorefinery complex in Uzbekistan to produce Sustainable Aviation Fuel (SAF), electro-synthetic SAF (eSAF), and green diesel.

ABF is focused on producing zero-carbon fuels that support the global transition to cleaner energy, helping reduce emissions across the aviation and transport sectors while promoting long-term energy resilience and climate sustainability.

For more information, please contact info@alliedbiofuels.com

Plug Power 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 and when the AGA/ABF project in Uzbekistan reaches FID; how many GW of PEM electrolyzer such Uzbekistan project may be require and whether such project generates the anticipated SAF, eSAF, and green diesel using renewable hydrogen; the ability for AGA and/or ABF to develop projects at the anticipated large-scale, to deliver reliable, low-carbon fuel solutions to global markets, and to successfully position its Uzbekistan location to serve global sustainable fuel markets; the success and sustainability of Plug’s commitment to the Asia-Pacific and/or Central Asia regions; the ability for Plug to deliver electrolyzers at multi-gigawatt scale; the ability for Plug’s electrolyzer technology to specifically enable large-scale renewable fuel production and enable global decarbonization more broadly; the success of Plug’s strategy to support large-scale renewable fuel projects worldwide; whether Plug is able to grow its presence across the Asia-Pacific and Central Asia regions; and the ability for Plug to maintain its position as a leading supplier of electrolyzers for renewable fuel and hydrogen-based energy transition projects. 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. 

MEDIA CONTACT
Teal Hoyos 
media@plugpower.com