Plug Power, a leading provider of hydrogen solutions, has secured a new multi-year hydrogen supply agreement with a U.S.-based industrial gas partner, extending through 2030. This pivotal contract is designed to ensure a reliable and cost-efficient supply of hydrogen for Plug’s expanding applications business, directly contributing to improved cash flows and enhanced margins.

The agreement is crucial for supporting Plug Power’s extensive network of over 275 customer sites that rely on its hydrogen services. By locking in a long-term supply at favorable terms, the company aims to bolster its operational flexibility and meet the escalating demand for clean energy solutions across various industrial sectors. This move aligns with Plug’s broader strategy to strengthen its domestic generation capabilities and reduce overall operational expenditures.

Andy Marsh, CEO of Plug Power, emphasized the strategic importance of the deal, stating, “This expanded agreement supports our mission to build on our already robust and resilient hydrogen network in the US. As we continue to scale our applications business and build long-term partnerships with customers, reliable supply and cost efficiency are critical. This contract is a win for Plug, our customers, our suppliers and our margin profile.” Marsh further noted that the immediate cost reduction achieved through this contract complements the company’s ongoing “Project Quantum Leap” initiative, which is specifically focused on cost optimization and cash flow improvement.

Plug Power’s commitment to expanding its domestic hydrogen production network is evident in its current operations, which include facilities in Georgia, Tennessee, and Louisiana, boasting a combined liquid hydrogen production capacity of 40 tonnes per day. The company has ambitious plans to establish more than 40 new production sites by 2025, with further expansion anticipated from 2026 onwards to accommodate projected industry growth. This domestic focus is further supported by recent U.S. legislation promoting clean energy initiatives, creating a favorable market environment for future expansion.

This latest supply agreement follows other significant strategic moves by Plug Power, including a partnership announced in June 2025 with Allied Green Ammonia (AGA) to develop a new 2-gigawatt electrolyser project in Uzbekistan. Such international collaborations, alongside robust domestic supply chain management, underscore Plug Power’s comprehensive approach to scaling the global hydrogen economy.