Plug Power Expands Global Hydrogen Footprint with $5.5B Uzbekistan Deal

Plug Power shares surged following the announcement of a $5.5 billion electrolyzer project in Uzbekistan, backed by the national government. The 2GW installation will anchor a green chemical production facility targeting sustainable aviation fuel and green diesel output.

The deal extends Plug's existing 3GW partnership with Allied Green Ammonia in Australia, now spanning two continents. CEO Andy Marsh framed the expansion as validation of Plug's industrial-scale hydrogen technology: "This demonstrates our ability to deliver for customers building the future of energy."

The Uzbekistan project comes weeks after Plug's mixed earnings report, highlighting the company's dual narrative of ambitious infrastructure growth alongside financial volatility. No direct cryptocurrency market implications were noted in the announcement.