Plug Power, Allied Green Expand Partnership With New Uzbekistan Deal

Author: Akanksha Bakshi | June 09, 2025 10:39am

Plug Power Inc. (NASDAQ:PLUG) announced Monday an expanded partnership with Allied Green Ammonia (AGA), adding a 2-gigawatt electrolyzer agreement for a $5.5 billion sustainable fuels project in Uzbekistan.

The deal will be signed during the Tashkent International Investment Forum, with senior leaders from both companies in attendance.

The Uzbekistan facility builds on Allied Green’s earlier 3 GW electrolyzer commitment for its green ammonia plant in Australia.

The company said in a press release that the two projects represent 5 GW of electrolyzer capacity across continents, reinforcing Plug’s role in large-scale decarbonization efforts.

Also Read: Plug Power’s Record Hydrogen Output In Georgia Signals Growth Potential

Plug’s electrolyzer systems will power the Uzbekistan plant, which aims to produce green urea, sustainable aviation fuel, and green diesel. Backed by the Uzbek government, the project highlights the growing global demand for clean fuel solutions and Plug’s ability to support that transition at scale.

Andy Marsh, Plug Power’s CEO, called the agreement a clear example of the company’s industrial leadership in hydrogen technology.

Plug’s electrolyzer technology is already in use or under development across five continents, supporting industries from energy and transport to chemicals and manufacturing.

Comparable players in the clean energy space include Bloom Energy Corp. (NYSE:BE) and Air Products and Chemicals, Inc. (NYSE:APD).

Investors may also follow hydrogen-related ETFs such as the Global X Hydrogen ETF (NASDAQ:HYDR) and Defiance Next Gen H2 ETF (NYSE:HDRO).

Price Action: PLUG shares are trading higher by 8.01% to $1.04 at last check Monday.

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