InvestmentJun 2, 2026, 08:01 AM
Plug Power Sells $39.2M Federal Tax Credit for Louisiana Facility
AI Summary
Plug Power Inc. announced the sale of a federal investment tax credit for approximately $39.2 million, linked to its St. Gabriel, Louisiana hydrogen liquefaction facility. This transaction, part of Plug's strategy to enhance liquidity and optimize capital deployment, follows a similar $30 million ITC transfer in January 2025 for its Georgia facility. The St. Gabriel plant, commissioned in April 2025, is a major North American hydrogen liquefaction facility with a capacity of 15 tons per day, contributing to Plug's 40 tons per day total liquid hydrogen production across its network. The company aims to strengthen financial flexibility and build its integrated hydrogen infrastructure.
Key Highlights
- Sold federal investment tax credit for ~$39.2 million.
- Credit associated with St. Gabriel, Louisiana hydrogen liquefaction facility.
- Follows January 2025 transfer of $30 million ITC for Georgia facility.
- St. Gabriel facility commissioned April 2025, liquefies up to 15 tons/day.
- Part of strategy to improve liquidity and optimize capital deployment.
- Total liquid hydrogen production capacity across network is ~40 tons/day.
Price Impact
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