Plug Power boosts liquidity by selling $44M federal tax credit for St. Gabriel hydrogen plant

Plug Power has sold a $39.2 million federal investment tax credit linked to its St. Gabriel hydrogen liquefaction facility in Louisiana, enhancing its liquidity and capital efficiency. This move is part of Plug Power's strategy to optimize capital deployment and unlock value from its hydrogen production network, which includes facilities in Georgia, Tennessee, and Louisiana with a combined 40 tons per day capacity. The St. Gabriel plant, operational since April 2025, is one of North America's largest hydrogen liquefaction sites, crucial for the company's domestic hydrogen supply. This transaction follows a similar $30 million tax credit sale from its Georgia facility in 2025, reinforcing Plug Power's financial flexibility while expanding its integrated hydrogen infrastructure in the U.S.