Plug Power halts hydrogen project as Heron Power expands manufacturing

Plug Power has abandoned plans to build a 100-megawatt green hydrogen plant at the Port of Antwerp-Bruges, resulting in approximately $15.8 million in impairments. This decision follows the U.S. Department of Energy's withdrawal of a $1.66 billion loan guarantee intended to fund several green hydrogen projects. Despite these setbacks in large-scale infrastructure, Plug Power's core business in fuel cells for logistics remains active; the company reported a 9 percent increase in quarterly revenue to $178.3 million and raised its full-year revenue guidance.

Separately, Heron Power, a startup founded by former Tesla manager Drew Baglino, is constructing its first manufacturing facility in Morgan Hill, California. The plant aims for an annual capacity of 40 gigawatts to produce the Heron Link, a software-controlled power conversion system designed for data centers, solar farms, and battery storage. The company, which raised $140 million in Series B funding, expects mass production to begin in the second half of 2027.