Plug Power Inc. (NASDAQ:PLUG) has entered into a purchase agreement with Allied Green Ammonia (AGA) to supply 3 GW of electrolysis capacity for AGA’s green hydrogen-to-ammonia plant in Australia.
To support the plant, AGA plans to build a 4.5 GW solar plant that will power Plug’s electrolysers with clean, emission-free energy, producing green hydrogen for green ammonia.
Now that the agreement has been finalized, Plug will develop a Basic Engineering and Design Package (BEDP) containing critical engineering and technical specifications to attract investors and secure financing.
Following a positive final investment decision, expected in the second quarter of 2025, Plug aims to start production and delivery of Proton Exchange Membrane electrolysers in the first quarter of 2027.
One of the largest green ammonia facilities in the world, AGA’s project is designed to produce 2,700 tons of green ammonia per day. This output will meet growing customer demand in Asia and Europe in sectors such as agriculture, energy storage, transport and industry.
Also read: The green light moment of hydrogen: will the plug be switched on?
“Ammonia producers recognize the substantial benefits of cost and carbon reduction through electrolysis-based hydrogen. We are pleased to partner with Allied Green Ammonia, a leader in global green ammonia production. Together we not only promote the production of green ammonia, but also actively support the global transition to a zero-emissions future,” said Andy MarshCEO of Plug.
Price promotion: PLUG stock is trading 6.02% higher at $2.82 premarket at last check Wednesday.
Photo via Shutterstock.
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This article Plug Power Closes 3GW Electrolyzer Deal for AGA’s Australia Plant: Details originally appeared on Benzinga.com
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