Plug Power Completes Installation of 100 MW GenEco Electrolyzer Units at Galp’s Sines Refinery

SLINGERLANDS, N.Y., Jan. 23, 2026 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the hydrogen economy, today announced the successful completion of the installation of 100MW of PEM GenEco™ electrolyzers at Galp’s Sines Refinery, marking a major milestone in one of Europe’s largest renewable hydrogen projects.

Since the project’s initial announcement in October 2025, with the delivery of the first 10MW GenEco electrolyzer module, all ten arrays (100 MW) have now been delivered and installed on site at the refinery.

Commissioning of the electrolyzer systems is expected to begin in the coming months. Once operational, the system is projected to produce up to 15,000 tons of renewable hydrogen per year, replacing approximately 20% of the refinery’s grey hydrogen use and reducing greenhouse gas emissions by 110,000 tons annually (Scope 1 and 2, CO2e).

“This installation demonstrates that large-scale green hydrogen is not just possible, it’s happening today and Plug is instrumental in this effort,” said Jose Luis Crespo, President and Chief Revenue Officer of Plug. “The completion of the Sines Refinery project is a defining moment for Europe’s energy transition and a model for the decarbonization of hard-to-electrify industrial sectors.”

“Projects like Sines underscore why Europe remains one of Plug’s most important strategic markets,” said Benjamin Haycraft, Chief Strategy Officer at Plug. “We continue to invest across the region to support large-scale decarbonization, and this milestone demonstrates our ability to deliver real infrastructure that advances Europe’s energy transition and strengthens long-term energy resilience.”

“With this pioneering project, Galp is closer to producing green hydrogen at an industrial scale, a historic moment for European refining,” said Ronald Doesburg, Executive Board Member responsible for Galp’s industrial activities. “It is also a key step in the development of a new generation of low-carbon fuels that will enable the decarbonization of activities that cannot be electrified,” he added.

Plug’s GenEco electrolyzers are supported by a global supply chain, integrating components manufactured across the U.S. and Europe, combining regional expertise with scalable PEM technology. The project reinforces Plug’s leadership in delivering modular, high-performance hydrogen systems at an industrial scale.

The Sines project is part of Plug’s strategic expansion in Europe, which includes multi-gigawatt electrolyzer deployments across Spain, the U.K., and beyond, supported by a $2 billion global opportunity funnel. Plug continues to advance hydrogen solutions across industries, positioning partners to decarbonize operations while maintaining competitiveness as low-carbon fuels grow their market share.

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.

Forward-Looking Statement
This press release 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: expectations of commissioning electrolyzer systems; anticipated annual hydrogen production capacity of successfully commissioned electrolyzer systems; potential reduction of greenhouse gas emissions; Plug’s ability to impact Europe’s energy transition goals and contribute to decarbonization of hard-to-electrify industrial sectors; whether Europe remains one of Plug’s most important strategic markets; Plug’s ability to continue to invest in European large-scale decarbonization projects; Plug’s ability to deliver infrastructure to European customers that advances Europe’s energy resilience; Plug’s ability to maintain is leading role in the industry and continue delivering modular, high-performance hydrogen systems at an industrial scale; and the size of Plug’s global opportunity funnel for electrolyzer deployments. These forward-looking statements are based on management’s current expectations and assumptions and are subject to a number of risks and uncertainties that could cause actual performance or results to differ materially from those expressed in these statements. 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 or to reflect events or circumstances after the date of this release, except as required by law. For additional risks and 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 its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and any subsequent filings with the SEC.

MEDIA CONTACT
Teal Hoyos
media@plugpower.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c8ba2578-2be4-49ed-99bf-01a2a380cf4c