Company Will Create More than 1,600 New Green Jobs at its Slingerlands Facility

Complements Governor Hochul's Bold Environmental Agenda for Reducing Greenhouse Gas Emissions and Combating Climate Change

Governor Kathy Hochul today announced the completion of Plug Power's newest manufacturing facility, located at the Vista Technology Campus in Slingerlands, Albany County. The new location supports the company's efforts to significantly expand its line of GenDrive fuel cell systems, which are used to power electric motors in the electric mobility market. The company has committed to creating more than 1,600 new green jobs at this Capital Region location, complementing New York State's efforts to be a national leader in growing the green economy, reducing greenhouse gas emissions, and combating climate change.

"New York's investment in Plug is an investment in the state's sustainable future," Governor Hochul said. "This new manufacturing facility is creating good, green jobs in the Capital Region and beyond - helping communities around the world break their dependence on fossil fuels by replacing them with cutting-edge green hydrogen technology. Earlier this week I laid out bold initiatives to drive down polluting emissions across the board, and Plug's expansion will help complement our efforts to create a greener, healthier New York for future generations."

Plug's new $125 million, 350,000 square foot plant will be used for expanding production, warehousing, and servicing of the GenDrive fuel cell product line, which offers drop-in fuel cell solutions for existing electric truck fleets. Additionally, the company has committed to creating more than 1,600 new, green jobs and retaining another 701 jobs in Albany County. Empire State Development (ESD) has agreed to provide up to $45 million in performance-based Green Excelsior Jobs Tax Credits to encourage the creation and retention of these green jobs. The project is also supported by 1,310-kilowatt low-cost power allocation through the ReCharge NY program approved by the New York Power Authority (NYPA) Board of Trustees at its March 2022 meeting.

CEO of Plug Andy Marsh said, "Plug is proud that its new world-class manufacturing and services facility in Albany County will contribute to New York State's goal for clean renewable energy. We are grateful to our elected officials and partners, including Governor Hochul, U.S. Senate Majority Leader Charles Schumer, Congressman Paul Tonko, Empire State Development, NYPA and Albany County, for their ongoing support in helping us grow our presence in New York and create more than 1,600 new green jobs."

Empire State Development President, CEO and Commissioner Hope Knight said, "We are pleased to have a strong partnership with Plug across the state. Plug's continued expansion in Albany County demonstrates their strong commitment to New York State and Governor Hochul's sustainable vision for a cleaner, greener future."

New York Power Authority Acting President and CEO Justin E. Driscoll said, "The innovative fuel cell systems manufactured through Plug's Slingerlands expansion will support New York's nation-leading climate agenda and accelerate our state's transition to a clean energy economy. With support from low-cost power through NYPA's ReCharge NY program, Plug is creating green jobs in the Capital Region and throughout the Empire State, helping build a thriving, green economy to benefit all New Yorkers today and tomorrow."

New York State Energy Research and Development Authority President and CEO Doreen M. Harris said, "Plug's expansion of its innovative fuel cell manufacturing capabilities here in New York represents a powerful demonstration of our state's leadership in supporting the clean energy transition. Job opportunities like those being added at this new facility are vital to New York's growing green economy—delivering the benefits of renewable energy to our communities while lowering greenhouse gas emissions."

New York State Department of Environmental Conservation Commissioner and Climate Action Council Co-Chair Basil Seggos said, "This is an exciting week that started with Governor Hochul's ambitious and affordable economy-wide Cap-and-Invest Program and other proposals to cut climate-altering emissions and is bolstered today by the completion of this new facility that will support New York's successful transition from fossil fuels. The growth of fuel cell technology will play a critical role in reducing greenhouse gases and moving our state toward greener technologies that create jobs, spur innovation, and build local economies."

This investment from Plug complements Governor Hochul's 2023 clean energy agenda. Under Governor Hochul's leadership, New York has advanced the nation's most aggressive policies to combat climate change, safeguard clean water and our natural environment, promote environmental justice, and advance the green economy.

In her 2023 State of the State Governor Hochul is proposing critical initiatives that will make a difference in the lives of all New Yorkers. The Cap-and-Invest Program, which was unveiled this week, will create an economywide Cap-and-Invest Program that establishes a declining cap on greenhouse gas emissions, invests in programs that drive emissions reductions in an equitable manner prioritizing disadvantaged communities, limits costs to economically vulnerable households, and maintains the competitiveness of New York industries. In addition, Governor Hochul will propose legislation to create a universal Climate Action Rebate that is expected to drive more than $1 billion in future cap-and-invest proceeds to New Yorkers every year.

In addition to New York's own green investments, the federal Inflation Reduction Act (IRA) provides tremendous opportunities to leverage state and private investments that have already been committed across the state. The IRA will reduce costs to New York to help meet the requirements of the Climate Act by approximately $70 billion through 2050 and is expected to provide unprecedented funding to reduce consumer energy costs, slash carbon emissions and pollution, ensure energy security and resilience, increase energy innovation and domestic manufacturing, and advance environmental justice.

New York State's nation-leading climate agenda is the most aggressive climate and clean energy initiative in the nation, calling for an orderly and just transition to clean energy that creates jobs and continues fostering a green economy as New York State recovers from the COVID-19 pandemic. Enshrined into law through the Climate Leadership and Community Protection Act (Climate Act), New York is on a path to achieve its mandated goal to reach economy-wide carbon neutrality, including a zero-emission electricity sector by 2040 with 70 percent renewable energy generation by 2030. It builds on New York's unprecedented investments to ramp-up clean energy, including more than $21 billion in 91 large-scale renewable projects across the state, $6.8 billion to reduce buildings emissions, $1.8 billion to scale up solar, more than $1 billion for clean transportation initiatives, and more than $1.2 billion in NY Green Bank commitments.

With the implementation of the Climate Act, a clean energy workforce will be in demand. Results from a 2021 Jobs Study issued by the New York State Climate Action Council's Just Transition Working Group, show that in the 21 growing sub-sectors total employment will increase by more than 60 percent from 2019 to 2030 - adding at least 211,000 new jobs in New York State. Additionally, clean energy jobs in New York State reached a record level of 165,000 workers at the end of 2021, helping to lead New York's COVID-19 economic recovery by recouping the clean energy jobs lost in 2020 and exceeding pre-COVID-19 clean energy employment levels by 1,300 jobs.

For additional information about Plug, visit https://www.plugpower.com/.

This new manufacturing facility is creating good, green jobs in the Capital Region and beyond - helping communities around the world break their dependence on fossil fuels by replacing them with cutting-edge green hydrogen technology

Governor Kathy Hochul

Senator Chuck Schumer said, "1,600 new, good-paying, green-energy jobs are about to power Plug's future in the Capital Region. Almost exactly 7 years ago, I stood on the factory floor of Plug Power's Latham facility, and CEO Andy Marsh promised me that if I could deliver the incentives they needed like the Investment Tax Credit, that we would be cutting ribbons for NY jobs in the decade — and today a promise made becomes a promise kept! I applaud Plug for this major investment that will cement the Capital Region's place as a global hub for innovation in clean energy, and thank Governor Hochul for her steadfast partnership which has helped the company grow. With the historic investments we just made in the Inflation Reduction Act and Bipartisan Infrastructure Law to spark the hydrogen fuel cell industry, today's new manufacturing facility comes at the perfect time to power America's fight against climate change and new federal incentives position Plug to create even more New York jobs for years to come building the 21st century green hydrogen economy."

Senator Kirsten Gillibrand said, "Plug Power's new manufacturing plant will create hundreds of green jobs in the Albany region and further New York's standing as a national leader in clean energy innovation and the fight against climate change. I congratulate Plug Power on the completion of its facility and look forward to seeing it in action."

Representative Paul Tonko said, "I've had the great pleasure of representing and partnering with Plug for many years, and today's announcement and the completion of this new facility is a perfect example of how much good can happen when every level of government aligns its incentives to support cutting-edge, innovative economic development opportunities. The Vista Tech Park facility is going to result in several hundreds of new, well-paying clean energy jobs - on top of the over eleven hundred Plug employees already in the Capital Region. I look forward to seeing how much more will come from our collective embrace of the transition to a clean - and hydrogen - energy economy."

State Senator Neil Breslin said, "The completion of Plug's new manufacturing facility right here in the Capital Region not only will create more than 1,600 jobs, it will help New York State grow the green economy. This expansion is further proof that environmental stewardship and economic development do not need to be mutually exclusive. I applaud Governor Hochul and Empire State Development for their ongoing commitment to helping New York State be a leader in combating climate change."

Assemblymember Patricia Fahy said, "The clean, green future of our transportation sector is happening right here in the Capital Region with Plug's new fuel cell manufacturing facility. Plug's GenDrive fuel cell systems help power electric trucks and other vehicles, production of which is vital to meeting New York's climate mandates through the electrification of our transportation sector — our state's largest contributor of greenhouse gas emissions. More than 1,600 new, green, good-paying jobs illustrates exactly how New York can execute a just transition to clean energy and create thousands of quality jobs in the process. Thank you to Plug for their investment not just in New York's green energy future, but our greater Capital Region as well."

Albany County Executive Daniel P. McCoy said, "The future of Albany County is bright and it is green, and Plug's new hydrogen fuel cell manufacturing facility is the latest example of that. I couldn't be more proud of my team and the Advance Albany County Alliance, who played key roles in keeping and creating more than 2,300 jobs in the County. Albany County is quickly becoming a national hub for clean, renewable energy, and I remain deeply committed to helping these industries grow and thrive. I want to thank Governor Hochul for her indispensable support of this project, and for sharing my vision of a more sustainable New York."

Bethlehem Town Supervisor David VanLuven said, "Bethlehem is proud to welcome this wonderful new facility to our town and the Town of New Scotland, as it furthers our communities' commitment to economic development and sustainability. I am grateful to our staff, Columbia Development, Plug, the Town of New Scotland, Albany County, and Governor Hochul for working so diligently to make the bold vision for this facility a reality."

New Scotland Town Supervisor Douglas LaGrange said, "This event is the culmination of much hard work by all parties involved, especially our local Boards and Departments in the Town of Bethlehem and the Town of New Scotland. Much has been done, and hopefully more opportunities will come, as Plug continues this innovative approach to providing clean energy resources here in New York State."

About Empire State Development
Empire State Development (ESD) is New York's chief economic development agency. The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Using loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing the New York State Regional Economic Development Councils and the marketing of "I LOVE NY," the State's iconic tourism brand. For more information on Regional Councils and Empire State Development, visit regionalcouncils.ny.gov and esd.ny.gov.

About NYPA
NYPA is the largest state public power organization in the nation, operating 16 generating facilities and more than 1,400 circuit-miles of transmission lines. More than 80 percent of the electricity NYPA produces is clean renewable hydropower. NYPA uses no tax money or state credit. It finances its operations through the sale of bonds and revenues earned in large part through sales of electricity. For more information visit nypa.gov and follow us Twitter, Facebook, Instagram, Tumblr, and LinkedIn.