Plug Power Strengthens Liquidity with $39.2M ITC Sale for St. Gabriel Hydrogen Plant
PLUG•Plug Power closed the sale of a $39.2 million federal investment tax credit for its St. Gabriel, Louisiana hydrogen liquefaction facility, bolstering cash reserves and capital efficiency. Commissioned in April 2025 with 15 tons/day capacity, the plant joins a 40 tons/day domestic network spanning Georgia, Tennessee and Louisiana.
1. Completed $39.2M ITC Sale
Plug Power sold a $39.2 million federal investment tax credit for its St. Gabriel hydrogen liquefaction facility operated through its joint venture with Olin, enhancing cash reserves and furthering capital deployment objectives. This builds on a previous $30 million ITC transfer associated with the Woodbine, Georgia plant.
2. St. Gabriel Facility Capabilities
Commissioned in April 2025, the St. Gabriel plant can liquefy up to 15 tons of hydrogen per day, making it one of North America’s largest hydrogen liquefaction sites. The facility supports Plug Power’s strategy to secure domestic supply and streamline its vertically integrated hydrogen network.
3. Integrated Hydrogen Production Network
Plug Power’s operational hydrogen generation network now spans facilities in Georgia, Tennessee and Louisiana with combined capacity of approximately 40 tons per day of liquid hydrogen. These assets underpin the company’s broader capital efficiency initiatives and its push to expand hydrogen infrastructure across the United States.
