Olin Corporation (a leading vertically integrated chlor alkali producer and marketer) and Plug Power Inc have signed an MOU with the intention to create a joint venture (JV) to produce and market green hydrogen to support growing fuel cell demand in the global hydrogen economy.
The JV is the first of its kind and will provide reliability of supply and speed to market for green hydrogen throughout North America, setting the foundation for broader collaboration between the two companies. The first production plant in St. Gabriel, Louisiana will produce 15 tons per day of green hydrogen.
This partnership brings together Olin, North America’s largest producer of electrolytic hydrogen, with Plug Power, who is building an end-to-end global green hydrogen ecosystem. Under the JV, Plug Power will market the hydrogen and provide logistical support for delivery while Olin will provide reliable hydrogen production and operational support.
Scott Sutton, Chairman, President, and CEO of Olin, said, “This JV is a key step for Olin as we seek to recognize the full potential of Olin’s untapped hydrogen supply capabilities across North America.”
Plug Power has been investing heavily in green hydrogen production, the future of clean energy. This JV activity will expand Plug Power’s existing work to build a “first of a kind” green hydrogen generation network in North America to help customers achieve their sustainability goals of net-zero carbon emissions. Plug Power is targeting 70 tpd by the end of this year and is on track to deliver 500 tpd of green hydrogen production by 2025 and 1,000 tpd by 2028.
Andy Marsh, CEO of Plug Power, commented, “We believe widespread availability of green hydrogen will create a flywheel effect by making green hydrogen ubiquitous and economical, helping accelerate the proliferation of numerous fuel cell applications.”