Plug Power Expands Hydrogen Footprint Across New Zealand and Australia with GenEco(TM) Electrolyzer Delivery to HWR Hydrogen

Plug Power, Inc.

Deployment strengthens Plug’s growing presence across hydrogen production, refueling and industrial decarbonization projects in New Zealand and Australia
1 MW GenEco electrolyzer will produce hydrogen for HWR Hydrogen’s Invercargill refueling station and dual-fuel heavy transport fleet
From distributed hydrogen production to large-scale industrial projects, Plug technology is supporting a growing range of hydrogen applications across the region

SLINGERLANDS, N.Y., Sept. 22, 2026 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the hydrogen economy, today announced the shipment of a 1 MW GenEco™ PEM electrolyzer to HWR Hydrogen, a division of H.W. Richardson Group Limited, expanding Plug’s GenEco footprint across New Zealand and Australia.

The unit will be installed at HWR Hydrogen’s refueling station in Invercargill, New Zealand, where it will produce hydrogen to support HWR’s fleet of dual-fuel hydrogen-diesel heavy trucks.

The project represents another step in the development of New Zealand’s emerging hydrogen ecosystem, where locally produced hydrogen is increasingly being deployed to address emissions from heavy transport and other hard-to-decarbonize applications. It also builds on Plug’s existing presence in the country, including deployed electrolyzer technology supporting Hiringa Energy’s green hydrogen refueling network.

Across New Zealand and Australia, hydrogen projects are moving into real-world deployment across transportation, refueling and industrial applications, ranging from distributed production serving local demand to major industrial projects requiring hundreds of megawatts of electrolyzer capacity.

“What’s important about this project isn’t simply the size of the electrolyzer. It’s what it represents,” said José Luis Crespo, CEO of Plug. “Plug is building a strong presence alongside this emerging market, with the technology and experience to support projects at every scale. As hydrogen adoption grows across New Zealand and Australia, we’re positioned to grow with it.”

Once installed, the system will enable local hydrogen production at HWR Hydrogen’s Invercargill refueling station, supporting the company’s dual-fuel fleet while helping establish the infrastructure required for broader hydrogen adoption across Southland and the South Island.

“We’re looking forward to installing the Plug GenEco electrolyzer equipment, which we will use at our refueling station initially to supply hydrogen for Change Fuel Technologies built dual-fuel trucks operated by HWR and other customers across the Southland region. The station will also be ready to refuel OEM-supplied hydrogen vehicles for HWR companies and the wider industry as they become available,” said Gareth Wishart, GM Technology & Innovation at HWR. “Bringing Plug equipment and capabilities to Invercargill is about proving out a model we can extend across the South Island as adoption grows.”

Plug’s work with HWR adds to a growing portfolio across Australia and New Zealand. In Australia, Plug was selected to supply a 50 MW GenEco PEM electrolyzer system for Orica’s Hunter Valley Hydrogen Hub, the largest renewable hydrogen project in Australia to reach FID, which is expected to produce approximately 4,700 metric tons of renewable hydrogen annually. In New Zealand, Plug technology is already deployed to support Hiringa Energy’s green hydrogen refueling network.

About Plug Power

Plug designs, builds, and operates a fully integrated hydrogen ecosystem spanning production, storage, delivery, and power generation, enabling the global hydrogen economy. A first mover in the industry, Plug delivers electrolyzers, fuel cells, and hydrogen production plants to customers across material handling, industrial applications, and energy markets, advancing energy resilience and industrial decarbonization.

Plug’s GenEco electrolyzers span five continents, and the Company has more than 76,000 GenDrive fuel cell systems and 280+ hydrogen-powered material handling sites deployed to date. Plug also operates its own hydrogen generation network to ensure a reliable, domestically produced supply, with production facilities currently operational in Georgia, Tennessee, and Louisiana, representing a combined capacity of approximately 40 tons per day.

With employees and state-of-the-art manufacturing facilities around the world, Plug serves global leaders including Walmart, Amazon, Home Depot, BMW, and BP.

For more information, visit www.plugpower.com.

About H.W. Richardson
H.W. Richardson Group (HWR) is one of New Zealand’s largest privately owned transport companies. Headquartered in Invercargill and family owned, HWR comprises a diverse group of businesses operating across transport, petroleum, ready-mixed concrete, contracting, quarrying and technology services in New Zealand and Australia. Building on generations of transport experience, HWR combines long-term thinking, operational capability and innovation to support its customers. HWR Hydrogen produces hydrogen for industry and is developing local production and refuelling infrastructure to support HWR businesses and other customers. Change Fuel Technologies, also part of HWR, develops hydrogen–diesel dual-fuel systems that can be retrofitted to existing diesel engines, providing a practical pathway to reduce heavy-transport emissions.

Safe Harbor

This communication contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements in this press release that are not historical facts, including, without limitation, statements regarding the Company's expectations, goals, plans, outlook or prospects, positive FIDs moving projects from awards to execution stage, and other statements regarding future operating results, financial condition, performance, prospects, and opportunities, are forward-looking statements. These forward-looking statements are based on current expectations, estimates, forecasts, and projections and the beliefs and assumptions of management and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. These risks and uncertainties include, among other things: Whether future HWR projects reach positive FID; Whether other Plug supplied projects in Australia and New Zealand transition to execution in 2026 or beyond; Whether Plug’s first electrolyzer deployment on South Island will help establish the infrastructure required for broader hydrogen adoption across Southland and the South Island; Orica’s Hunter Valley Hydrogen Hub expected production capacity; Whether any of the projects in the global opportunity pipeline advance to execution or positive financial investment decisions; whether Plug’s industrial solutions will help reduce carbon emissions, and help make green hydrogen more cost-effective and accessible for industrial, utility, and infrastructure customers worldwide; general market, economic, competitive, and regulatory conditions; the Company's ability to manage costs and liquidity; risks related to the Company's future capital requirements and liquidity needs. Such statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in these statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Plug in general, see Plug’s public filings with the Securities and Exchange Commission (the “SEC”), including the “Risk Factors” section of Plug’s Annual Report on Form 10-K for the year ended December 31, 2025 and Plug’s subsequent Quarterly Reports on Form 10-Q, and any other subsequent filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date of this press release. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

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