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Tonko Heralds $1.66 Billion Clean Hydrogen Loan Guarantee to Plug Power

Conditional commitment from DOE’s Loan Programs Office will help construct clean hydrogen facilities across nation

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WASHINGTON, DC — Congressman Paul D. Tonko (D-NY) today celebrated the announcement that Plug Power Inc. in Latham, NY has to finance construction of six facilities to produce clean hydrogen. If finalized, the loan guarantee will be granted by the U.S. Department of Energy’s (DOE) Loan Programs Office (LPO) and is part of the Biden Administration’s Investing in America Agenda that is bolstering economies and creating jobs across the nation.

“Throughout my time in Congress, I have fought to support DOE”s Loan Programs Office for its ability to help commercialize innovative technologies, and I am so proud that this program will now be working with a cutting-edge, New York-based company,” Congressman Tonko said. “Clean hydrogen offers us an opportunity to secure a clean energy future, which is why I’m thrilled by today’s announcement that will support innovation, strengthen our economy, and create hundreds of good paying, green jobs. Our region is lucky to have a strong driver of hydrogen development in Plug Power. My congratulations to Plug on this transformational investment and I look forward to continuing to work with the Biden Administration to drive these opportunities and support a clean energy future.”

The funding to Plug would be offered through the LPO’s  Title 17 Clean Energy Financing Program. The program facilitates opportunities for innovative energy and supply chain projects, certain state-supported projects, and other projects that reinvest in existing energy infrastructure.

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