Plug Power (PLUG) — US Production & Manufacturing Footprint
Facilities disclosed in Item 2 (Properties) of the FY2025 10-K, filed March 2, 2026. Includes three operational liquid-hydrogen plants, the Rochester electrolyzer gigafactory, the Slingerlands corporate/manufacturing campus, and seven additional mfg, R&D, and service sites. The Western-NY (Alabama, Genesee County) plant is excluded from the current Properties list and appears here as a divesting site under the Feb 24, 2026 Stream Data Centers sale agreement.
Footprint Summary
Site counts by function and status — Dec 31, 2025Operational H2 capacity
40 TPD
Kingsland 15 · Charleston 10 · St. Gabriel 15 (JV)
Divesting capacity
45 TPD
Alabama (Genesee), NY — $290M orig. capex, $132.5–142M sale to Stream DC
Disclosed mfg capex
$250M+
Rochester gigafactory $125M + Slingerlands $125M (ex other sites)
Suspended (DOE)
NY + TX
Green-H2 plants previously contemplated under $1.66B DOE loan; activities suspended Nov 7, 2025
Reading the footprint. The operational H2 production network runs at 40 TPD across the Southeast/Gulf Coast (TN, GA, LA) — all came onstream 2024–2025. The Alabama NY plant (45 TPD) would have added more than the combined operational capacity, but is held-for-sale to Stream Data Centers. The manufacturing/engineering footprint remains heavily concentrated in upstate New York (Rochester, Slingerlands).
Sourcing. The FY2025 10-K (Item 2 Properties) discloses location, square footage, and ownership but not per-plant TPD or capex. TPD and capex figures are from Plug press releases, state-government announcements (NY ESD, Gov. Hochul / Gov. Cuomo offices), and local trade press. Cells marked "Not disclosed" had no publicly reported standalone figure. Pin size on the map is proportional to square footage, not TPD, so pin size and TPD are independent signals.
Facility Map
Scattergeo — Albers USA projection, pin size proportional to sq ft
H2 production
Electrolyzer / fuel-cell mfg
R&D / corporate
Service center
Divesting / held-for-sale
Site Detail
Size, function, ownership, and notes| Site | State | Function | Size (sq ft) | TPD | Capex | Ownership | Status | Notes |
|---|
Hover the Capex cell to see the sourcing note. TPD capacity not disclosed in the FY25 10-K; sourced from Plug press releases (Jan/Feb 2024 for Woodbine GA, Charleston TN; Apr 2025 for St. Gabriel LA) and NY State announcements (WNY 2021). Mfg capex from NY Governor press releases at groundbreaking/completion.
Forward Pipeline & DOE Loan Status
Plants beyond the current footprint — what's alive, what's paused, what's goneActive / evaluating
AccionaPlug — Spain & Portugal
FY25 10-K: JV received initial project financing commitments during 2025. Plug recorded a $55.1M equity-method loss and an other-than-temporary impairment on its JV investment. Projects target Iberian-peninsula green-H2 production using Plug electrolyzers. No announced US component.
Hidrogenii — expansion beyond St. Gabriel
St. Gabriel LA (15 TPD) is Phase 1. 2022 JV formation language framed St. Gabriel as the "foundation for broader collaboration" across Olin's chlor-alkali footprint. No Phase 2 site publicly named as of the FY25 filing.
Suspended — DOE-funded
New York green-H2 plant
Suspended Nov 7, 2025. Site selection and permitting work halted pending DOE reframe discussions. $13.2M of capitalized closing fees charged off in FY25.
Texas green-H2 plant
Same Nov 7, 2025 suspension. 10-K risk factor is blunter on TX than NY: Plug discloses it "may defer, modify or pivot away from… facilities previously contemplated… such as the Texas hydrogen plant." Weakest odds of revival among the DOE-contemplated sites.
Wound down
SK Plug Hyverse — South Korea
Referenced in FY25 10-K as a former JV. Originally contemplated a Korean gigafactory and regional H2 distribution. Wound down during 2024 as SK E&S pivoted strategy. No residual Plug exposure.
Clean H2 Infra Fund — deployments
Third-party fund where Plug electrolyzers may be specified by portfolio projects. Equipment-sale opportunity set, not a Plug production facility. Not part of Plug's owned/JV plant roster.
DOE loan — four-question breakdown.
1. What's the hold-up?
The new administration's energy-priorities review. Plug's 10-K cites the suspension was taken “in light of the current administration's priorities regarding the review and prioritization of federal energy financing programs and the advancement of American energy dominance through revised Department of Energy policy directives.” DOE-guaranteed loans to electrolytic green-H2 projects are not aligned with the current policy frame, which favors domestic fossil/nuclear-adjacent energy.
2. What is pending?
Bilateral reframe discussions between Plug and DOE on modified project scope. Plug has not withdrawn from the loan; the guarantee commitment remains legally in place, but draws are suspended. The $1.66B facility is a multi-draw term loan from the Federal Financing Bank (DOE guarantee); borrower entity is Plug Power Energy Loan Borrower LLC. Originally contemplated six plants, of which NY and TX were the un-built ones.
3. What is needed to resume?
(a) DOE consent to a modified development plan acceptable to both parties; (b) written confirmation the loan guarantee remains available on economically viable terms (10-K: "no assurance that the loan guarantee will remain available under the same terms"); (c) Plug satisfying outstanding conditions precedent and project milestones; (d) likely a favorable re-read of the OBBBA foreign-component criteria so the plants still qualify for Section 48 credits on the liquefaction/storage side.
4. What would permanently cancel?
Three pathways. (i) DOE termination — 10-K: "the agency could terminate its loan guarantee commitment" if Plug misses conditions or milestones. (ii) Plug pivots away — the Texas plant is already flagged under the "may defer, modify or pivot away" language; NY is implicitly on the same rail. (iii) No mutual reframe — if DOE discussions fail to land a revised scope both sides will fund/accept, the facility is unusable and would be allowed to lapse. A permanent cancellation would likely crystallize as an additional charge beyond the $13.2M fees already written off, though Plug has not quantified a ceiling.
Takeaway. The NY+TX plants are not in the current footprint and are unlikely to enter it within FY26. Any credible restart date depends on federal-policy posture rather than Plug execution. For a reader modeling capacity additions near-term, treat NY+TX as optionality worth zero until DOE signals, the active growth vector as AccionaPlug (Iberian, outside US), and any Hidrogenii Phase-2 as upside not yet disclosed.
Geographic Concentration & Build-out Risk
What the footprint reveals about strategy
Southeast/Gulf Coast H2 corridor. All three operational liquid-H2 plants sit in a 700-mile arc from Charleston, TN through Kingsland, GA to St. Gabriel, LA. This concentrates delivery logistics (trailers + cryogenic storage) and shortens the haul to Plug's primary material-handling customer base in the Southeast. Kingsland, at 882,556 sq ft, is nearly 4× the footprint of Charleston — a rough indicator of production and/or site-expansion capacity not captured by per-plant TPD disclosure.
Upstate NY mfg concentration. Rochester (electrolyzer gigafactory + MEA) and Slingerlands (350,000 sq ft — the largest US mfg footprint) together form the company's engineering center of gravity. The absence of a Latham, NY entry in the FY25 Properties list indicates the historical HQ was consolidated into Slingerlands during 2024–2025.
Divestiture and DOE-suspension effects. Two structural shifts reshape the footprint:
(1) the Feb 24, 2026 Alabama, NY land-sale definitive agreement monetizes the legacy WNY production asset for $132.5M–$142M;
(2) the Nov 7, 2025 DOE-loan suspension shelves the previously-contemplated green H2 plants in New York and Texas. Combined, these actions compress the near-term network to the Southeast/Gulf footprint and push any expansion decision into the DOE-reframe window.