Plug Power said June 2 it has closed on the sale of a federal Investment Tax Credit (ITC) for ~$39.2 million associated with its hydrogen liquefaction facility in St. Gabriel, LA, (#17 in map below) operated through Hidrogenii, its joint venture with Olin Corp. The St. Gabriel facility was commissioned in April 2025 and can liquefy up to 15 tons of hydrogen per day.
Plug said the monetization is part of its broader strategy to improve liquidity, optimize capital deployment and unlock value from its hydrogen generation network. Plug previously transferred a $30 million ITC associated with its Woodbine, GA, hydrogen facility (#3 in map) in January 2025.
