Plug Power Secures $44 Million Through Transfer of St. Gabriel Facility Tax Credits

Plug Power received $44 million in proceeds from the transfer of federal Investment Tax Credits (ITC) associated with its hydrogen production facility in St. Gabriel, Louisiana. The company completed this transaction to increase its available liquidity, utilizing provisions under the Inflation Reduction Act that allow for the monetization of tax credits.

The St. Gabriel facility serves as a key component of Plug Power’s hydrogen infrastructure, and the company leveraged the federal tax credit transferability mechanism to secure these funds. This financial move provides the company with additional capital as it continues to develop its hydrogen production network. The transaction follows the company’s ongoing efforts to manage its balance sheet while expanding its operational capacity in the green hydrogen sector.

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Date: June 2, 2026

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GOAI