Plug Power Inc. (NASDAQ: PLUG) shares were flat Thursday. The company, purporting to be a global leader in comprehensive hydrogen solutions, today announced it has been awarded the Front-End Engineering Design (FEED) contract to supply a 275 MW GenEco PEM electrolyzer system for Hy2gen Canada Inc.’s “Courant” project.
The system represents one of the largest electrolyzer project awards to Plug to date, underscoring the company’s leadership in delivering superior hydrogen technology on a global scale.
Hy2gen is developing the Courant project as one of North America’s largest decarbonized ammonium nitrate facilities, supporting the mining industry's goals in Québec, Central and Eastern Canada, and beyond. Plug’s scope includes advanced engineering and system design activities to support electrolyzer integration, plant configuration, and performance optimization. Plug’s PEM electrolyzer technology is well-suited for applications requiring reliability, high efficiency, and operational flexibility.
The large-scale hydrogen plant will support Hy2gen’s production of low-carbon ammonia, using electricity delivered via the Hydro-Québec grid, and that ammonia will then be further processed into renewable ammonium nitrate for the mining industry's explosives needs.
Located in Baie-Comeau, Québec, the facility leverages Canada’s abundant low-carbon hydroelectric resources, established industrial and distribution infrastructure, and deep-water port access.
Shares in PLUG eked ahead one cent, or 0.4% to $2.26.
