THP-E283: Plug Power’s Fantastic News In 2024 Has Investors Giddy. Also, Exciting Turquoise Hydrogen Plant Broke Ground

Paul Rodden • Season: 2024 • Episode: 283

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Welcome to The Hydrogen Podcast!

In episode 283, Plug announces the GA plant is online and investors are rejoicing, and Hycamite begins construction of their methane pyrolysis facility in Finland. I’ll go over this news and give my thoughts on today’s hydrogen podcast.

Thank you for listening and I hope you enjoy the podcast. Please feel free to email me at with any questions. Also, if you wouldn’t mind subscribing to my podcast using your preferred platform… I would greatly appreciate it.

Paul Rodden



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Plug announces the GA plant is online and investors are rejoicing, and Hycamite begins construction of their methane pyrolysis facility in Finland. I’ll go over this news and give my thoughts on today’s hydrogen podcast. So the big questions in the energy industry today are, how is hydrogen the primary driving force behind the evolution of energy? Where is capital being deployed for hydrogen projects globally? And where are the best investment opportunities for early adopters who recognize the importance of hydrogen? I will address the critical issues and give you the information you need to deploy capital. Those are the questions that will unlock the potential of hydrogen and this podcast will give you the answers. My name is Paul Rodden and welcome to the hydrogen podcast. In a press release on January 23, plug power starts production of liquid green hydrogen at its Georgia plant. Plug Power, a global leader in comprehensive hydrogen solutions for the green hydrogen economy has started operation of the largest liquid green hydrogen plant in the US market. A truly unique accomplishment this is the largest electrolytic liquid hydrogen production plant and the largest P E M electrolyzer deployment operating in the US representing a landmark achievement in plugs build out of a vertically integrated hydrogen ecosystem. The plant showcases plugs own electrolyzer technology demonstrating firsthand to customers its reliability in producing sustainable fuel. Located in Woodbine, Georgia. The plant is designed to produce 15 tons per day of liquid electrolytic hydrogen enough to power approximately 15,000 forklifts a day. Through eight five megawatt pm electrolyzers water is separated into hydrogen and oxygen. The hydrogen gas is then condensed in the liquid form at negative 423 degrees Fahrenheit to be delivered to customers hydrogen fueling stations through plugs logistics network using plug cryogenic trailers. This new facility will bolster plugs supply of liquid hydrogen currently being delivered to plugs pedestal customers for material handling operations fuel cell electric vehicle fleets and stationary power applications. liquid hydrogen production in addition to the ongoing gaseous hydrogen production is expected to positively impact plugs bottom line and provide an additional step change in fuel margin expansion. The addition of this liquid green hydrogen production plant to plugs electrolyzer fuel cell and cryogenic equipment manufacturing facilities enables plug to further its vision for for building a vertically integrated green hydrogen ecosystem. A one stop shop for producing, liquefying storing and transporting hydrogen. The continued build out of plugs global hydrogen network allows customers to seamlessly integrate hydrogen into its operations across multiple industries. Customer demand for green hydrogen has grown as low carbon energy source for hard to decarbonize industries, such as heavy duty transportation, heavy manufacturing, which is steel, cement, aluminum and chemicals, stationary power generation and aviation. In addition, hydrogen supportive policies in both Europe and the US have improved the economic attractiveness of green hydrogen, and a quote from Andy Marsh, the plug power CEO, we have achieved a historic milestone for plug and the entire hydrogen ecosystem. He also says bringing this green hydrogen plant online demonstrates that we are the leading builder of global hydrogen infrastructure for supporting customer demand in decarbonizing their operations. Plug finished the plant at a rapid pace of 18 months more than two times faster than the three year industry standard for hydrogen plants. The location of the plant which is near i 95, which is one mile away, and I 10, which is 20 miles away, enables easy access to commercial and industrial centers, including plugs pedestal customers throughout the US. The company has been operating a pilot gaseous hydrogen plant in Georgia using plugs five megawatt electrolyzer platform over a year now, supporting high pressure tube trailer filling for plug as well as for customers. The company is doing substantial work and other US based plants, including plants in Louisiana, New York, and Texas. Okay, so now we have the Juggernaut news from plug that we’ve all been waiting for. And their stock price has responded accordingly when it opened the day at $3.36 and closing at $3.72, which is certainly continuing the positive movement we’ve seen over the last week when the stock hit its low of $2.29 on the 18th. Now what I’m hoping to see is continuing progress from this good news that the company can build on. I know they have projects in the pipeline that will add cashflow. And with this plant coming online more off takers I’m sure will be announced. I also want to give a shout out to Chris over at the plug power global retail investors Facebook group, he predicted this announcement and absolutely nailed it. If you have an interest in plug, I highly suggest following that group for great plug insights. Now, I also think it’s important to look at the geography of this site location. This plant is located in Georgia, which is part of the southeastern US. It’s also known as the largest area in the us not to receive any federal funding for hydrogen hub development, making this plant not only the first large scale liquid hydrogen facility, but also one not attached to any hub funding or regulation, which to me makes it an even bigger impact for the development of the hydrogen economy. And not just in the US, but globally. Now, we did an interview with any Marsh back in 2022. If you haven’t heard that interview, I highly recommend taking a listen as he alludes to many of the projects they’ve announced recently, and it sounds like even more big news is on the horizon. Next, and another press release on January 19, Hycamite started the construction work of the hydrogen production plant in Kokkola, the construction phase in the Kokkola Industrial Park was able to start when all the necessary permits had been obtained from the authorities. By the end of the appeal period. No appeals were filed against the permits. Key equipment orders have already been placed in 2023. The purpose of Hycamite’s new hydrogen production facility is to demonstrate the profitability of the technology developed by the company. Hycamites technology breaks down large amounts of methane into its components hydrogen and carbon without releasing greenhouse gases into the atmosphere. The nominal capacity of the new plant will be 2000 tons of hydrogen and 6000 tons of coal products per year. As long as the project is fully completed. The new facility is able to prevent up to 18,000 tons of carbon dioxide from entering the atmosphere every year, when liquefied natural gas is used as a source of methane to be processed. When for example, bio methane obtained from farms is used as a raw material, it’s possible to gain time for a carbon sink ie carbon can even be removed from the atmospheric cycle. The liquefied natural gas used in Hycamite to new plant is delivered from Norway via the Kokkola LNG terminal and biomethane from Finland. The new hydrogen production facility will be built near Hycamites headquarters and a small test facility KIP is northern Europe’s largest ecosystem of the inorganic chemical industry for several leading companies in the chemical and mineral processing industry operate. pure hydrogen can be used either as an industrial raw material or as fuel. Hycamites carbon products are suitable for example, as a raw material for batteries and can replace the graphite currently imported from China. The company’s technology requires only 13% of the energy needed to produce hydrogen through electrolysis, the use of methane obtained from natural gas and bio methane as a raw material enables a rapid increase in production. Okay, so Hycamite has begun construction of their new methane pyrolysis plant in Finland. As many of you know, I think of methane pyrolysis or turquoise hydrogen if you follow the colors to be the holy grail of leveraging hydrocarbons to their full potential. I’ve also been following Hycamite for some time now. And I’ve been waiting for this announcement. And so I’m obviously very excited. Now I’m curious how the EU will respond to this technology. Will they consider this clean hydrogen, even though it’s using hydrocarbons as the feedstock? Or will rational minds prevail, and understand that this is the cleanest way to get both graphene and hydrogen at scale at economically competitive price points. I’m hoping so. But only time will tell. So congratulations to Hycamite. I look forward to seeing your success. All right. That’s it for me today. If you have a second, I would really appreciate it. If you could leave a good review on whatever platform it is that you listen to Apple podcast, Spotify, Google, YouTube, whatever it is, that would be a tremendous help to the show. And as always, if you ever have any feedback, you’re welcome to email me directly at So until next time, keep your eyes up and honor one another. Hey, this is Paul. I hope you liked this podcast. If you did and want to hear more, I’d appreciate it if you would either subscribe to this channel on YouTube, or connect with your favorite platform through my website at Thanks for listening. I very much appreciate it. Have a great day.

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