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Plug Power Cuts 2022 Hydrogen-Production Forecast as Two Plants Dropped

  • Company will miss 2022 production forecast, executive says
  • Plug remains on track with aggressive build out in US, Europe
Electrolyzer stacks at the research and development area of the Plug Power facility in Concord, Massachusetts.

Electrolyzer stacks at the research and development area of the Plug Power facility in Concord, Massachusetts.

Photographer: Adam Glanzman/Bloomberg
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Plug Power Inc. is cutting its hydrogen-production forecast after abandoning plans for two plants and encountering permitting delays at a third facility. 

The company will be able to make about 50 tons of green hydrogen per day by yearend, down from an earlier forecast of 70 tons, Chief Strategy Officer Sanjay Shrestha told analysts and investors gathered Wednesday for Plug’s annual symposium.