Transactions - OCTOBER 15, 2021

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Plug Power and Fortescue to deliver electrolyzer gigafactory in Australia

by Released

Plug Power Inc., a provider of turnkey hydrogen solutions for the global green hydrogen economy, and Fortescue Future Industries have formed a 50-50 joint venture to build a gigafactory in Queensland, Australia.

The 2-gigawatt factory will produce large-scale proton exchange membrane (PEM) electrolyzers, with the ability to expand later into fuel cell systems and other hydrogen-related refueling and storage infrastructure. Plug Power will supply the electrolyzer and fuel-cell technology, and FFI will contribute advanced manufacturing capabilities.

The companies said FFI will be the primary customer of the products manufactured by the joint venture, enabling it to decarbonizing its operations with stationary power and mobility applications running on green hydrogen.

“We need solar panels, wind towers, and electrolyzers in such scale that we need to produce them where we use them — including in Australia,” said Julie Shuttleworth, CEO of Fortescue Future Ind

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