Stock Groups

Plug Power Selected as Tech Provider for 100MW Electrolyzer in Egypt -Breaking

by Mike Robinson

[ad_1]

© Reuters

Sam Boughedda

Investing.com — The Plug Power Inc (NASDAQ:) It was announced Wednesday by a consortium that it will be the technology provider of a 100-MW electrolyzer in Egypt.

This group also includes Fertiglobe which is the strategic partnership between OCI NV & Abu Dhabi National Oil Company. Scatec ASA and Orascom Construction are other members.

Plug will supply the technology to make the electrolyzer, which will produce green hydrogen for up to 90,000.00 tons of green ammonia at EBIC, Ain Sokhna in Egypt.

According to the alternative energy company, Egypt has the best potential for producing hydrogen due to its “unique renewables profile”.

Andy Marsh (CEO of Plug Power) said, “Plug Power felicitates the members Egypt’s Green Hydrogen Consortium including Fertiglobe Construction, Orascom Construction, and other for their plans to build the country’s first green hydrogen manufacturing facility.”

He said, “We are delighted by the Consortium’s exciting move put Egypt and the MENA area on the green hydrogen map.”

Plug announced that it had chosen Germany’s Port of Duisburg as its European headquarters. To help build the European green hydrogen economy, Plug will be increasing its investments in Europe.

These two updates come on Tuesday’s announcement about Plug. completed the acquisition of Applied Cryo Technologies.

Shares of the company have risen by 1.25 percent at the time that this writing was done.

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts and buy/sell signal signals. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]