In New York, Plug Power announced a new multi-year enhanced supply agreement with a leading U.S.-based industrial gas company and longtime hydrogen partner through 2030. The agreement extends the companies’ current strategic relationship through 2030, securing reliable hydrogen supply for Plug’s growing applications business while significantly reducing the cost structure and improving cash flows, the firm said. As part of the extension, the strategic partner will continue to supply Plug with liquid hydrogen while immediately reducing the cost and collaborating on improved network efficiency. “This expanded agreement supports our mission to build on our already robust and resilient hydrogen network in the U.S.,” said Andy Marsh, CEO of Plug. “As we continue to scale our applications business and build long-term partnerships with customers, reliable supply and cost efficiency are critical.”
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