Green Hydrogen Project Tracking—Plug Power Signs Letter of Intent for Up to 2 GW PEM Electrolyzers for Uzbekistan SAF Project

On October 30, 2025, Plug Power Inc. (NASDAQ: Plug), a global leader in hydrogen solutions, announced the signing of a binding supply agreement with Allied Biofuel FE LLC (ABF), under which ABF will purchase up to 2 GW of GenEco PEM electrolyzers from Plug. This agreement will support ABF's development of sustainable aviation fuel (SAF), eSAF, and green diesel projects, with the final investment decision expected to be made in the fourth quarter of 2026.

It is reported that this new supply agreement builds upon Plug's previous 3 GW collaboration with Allied Green Ammonia (AGA) in Australia, bringing the total contracted electrolyzer capacity between Plug and its joint partners to 5 GW, covering two landmark projects. Plug's technology will power ABF's flagship SAF and eSAF facility in Uzbekistan, which is strategically located to serve the global sustainable fuel market.

The agreement was signed during Plug CEO Andy Marsh's visit to Australia, where he met with project developers and energy partners to advance further hydrogen and liquid fuel cooperation opportunities. As one of the largest electrolyzer supply agreements announced globally in 2025, this deal highlights Plug's increasingly important role in enabling large-scale renewable fuel production in Central Asia.

Andy Marsh, CEO of Plug Power, stated, "This agreement is proof that Plug has accomplished what others are still planning. We are translating hydrogen commitments into tangible, operational projects at a multi-gigawatt scale. This supply agreement underscores our deep involvement in the global hydrogen economy and our ability to provide mature electrolyzer technology for the production and decarbonization of SAF and eSAF."

Alfred Benedict, Chairman of Allied Biofuel FE, added, "At ABF, our mission is to provide reliable low-carbon fuel solutions for the global market. Partnering with Plug's world-class electrolyzer platform ensures we can deliver the scale, reliability, and performance our customers expect. Finalizing this supply agreement is a critical milestone on our path to FID."

Currently, Plug continues to expand its operations in the Asia-Pacific and Central Asia regions, further solidifying its position as a leading supplier of electrolyzers for renewable fuel and hydrogen-based energy transition projects. In addition to the above collaboration, Plug is advancing the deployment of hydrogen and fuel cells in South Korea, India, and Japan, helping these countries integrate clean hydrogen into power generation, fuel synthesis, and industrial applications.