Plug Power and Allied Green Expand Strategic Collaboration with New 2 GW Electrolyzer Deal in Uzbekistan

Plug Power and Allied Green Leadership attending International Investment Forum to Execute the Agreement

Allied Green Continues to Make Meaningful Progress in its Green Ammonia Plant in Australia with Plug to supply 3GW of Electrolyzer Capacity Bringing the total opportunity between partners to 5GW globally

SLINGERLANDS, N.Y., June 09, 2025 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ:PLUG), a global leader in comprehensive hydrogen solutions, today announced a significant expansion of its partnership with Allied Green Ammonia (AGA), with a new 2 gigawatt (GW) electrolyzer opportunity tied to a sustainable fuels project in Uzbekistan. The deal will be executed during the Tashkent International Investment Forum, where Sanjay Shrestha, President of Plug, and Alfred Benedict, Managing Director of Allied Green, will be on site for the official signing.

Plug's electrolyzer technology has been selected as the foundation of a new $5.5 billion green chemical production facility in Uzbekistan that will produce sustainable aviation fuel, green urea, and green diesel. The project is backed by the Government of Uzbekistan and further strengthens Plug's position as the preferred electrolyzer provider for global-scale decarbonization initiatives.

"This latest expansion with Allied Green demonstrates how Plug is leading the global hydrogen transition with proven electrolyzer technology and execution at industrial scale," said Andy Marsh, CEO of Plug. "With a 5 GW partnership now spanning two continents, this is a defining example of our ability to deliver for customers building the future of energy."

"This agreement reflects our deep confidence in Plug's team, technology, and ability to deliver on bold, world-class projects," said Alfred Benedict of Allied Green Ammonia. "Together, we are creating meaningful momentum for global decarbonization—first in Australia, now in Uzbekistan, and in future regions to come."

The Uzbekistan project builds on Allied Green's previously announced 3 GW electrolyzer commitment for its flagship green ammonia facility in Australia. The project remains on track for a final investment decision in the fourth quarter of 2025.

"This continued collaboration with Allied Green reflects Plug's ability to support ambitious decarbonization goals with scalable electrolyzer technology," said Sanjay Shrestha, President of Plug. "As we look to expand our relationship, we see strong alignment in our shared vision for accelerating the global shift to low-carbon hydrogen across industries and regions."

Plug's technology is deployed or under development across five continents, supporting customers in the industrial, transportation, energy, and chemical sectors. As global companies invest in green hydrogen infrastructure, Plug continues to stand out as the most experienced and scalable partner—delivering the integrated hydrogen ecosystem necessary to power the energy transition.

About Plug Power

Plug is building the global hydrogen economy with a fully integrated ecosystem spanning production, storage, delivery, and power generation. A first mover in the industry, Plug provides electrolyzers, liquid hydrogen, fuel cell systems, storage tanks, and fueling infrastructure to industries such as material handling, industrial applications, and energy producers—advancing energy independence and decarbonization at scale.

With electrolyzers deployed across five continents, Plug leads in hydrogen production, delivering large-scale projects that redefine industrial power. The company has deployed over 72,000 fuel cell systems and 275 fueling stations and is the largest user of liquid hydrogen. Plug is rapidly expanding its generation network to ensure reliable, domestically produced supply, with hydrogen plants currently operational in Georgia, Tennessee, and Louisiana, capable of producing 39 tons per day.

With employees and state-of-the-art manufacturing facilities across the globe, Plug powers global leaders like Walmart, Amazon, Home Depot, BMW, and BP.

Safe Harbor

This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties about Plug Power Inc. ("Plug"), including but not limited to statements about Plug's commercial arrangements, agreements or contracts, if any, with Allied Green Ammonia ("AGA"), including actual execution of binding agreements, expected timing for any Plug delivery of any equipment, products or services under any commercial contracts or other arrangements or Plug's ability to receive any revenue or payment on such product, equipment or services; AGA's plans for its green ammonia production facility, including its ability to execute on any plans including stated production capacity and timing of FID, as well as any actual or continued government support for such projects or programs. Such statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in these statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Plug in general, see Plug's public filings with the Securities and Exchange Commission (the "SEC"), including the "Risk Factors" section of Plug's Annual Report on Form 10-K for the year ended December 31, 2024, Plug's Quarterly Reports on Form 10-Q for the quarter ended March 31, 2025 and any subsequent filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made as of the date hereof, and Plug undertakes no obligation to update such statements as a result of new information.

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