US hydrogen-focused company Plug Power says it has launched the first-ever spot pricing scheme for liquid green hydrogen.

The initiative allows buyers to purchase liquid green hydrogen from Plug’s production plants on-demand, without having to secure long-term take-or-pay agreements. However, customers will still need to secure a spot agreement with Plug in order to buy the hydrogen.

The price will be published weekly on the platform of a leading index provider, Kallanish notes. If customers want to buy the feedstock at the published price, Plug says it will execute a transaction agreement to accept a customer tanker at one of its plants for a fill.

The New York state-based company says it already holds spot pricing agreements with “several key industry players,” including “one of the largest industrial gas companies.”

The fuel will be available from Plug’s plants in the cities of Woodbine (Georgia), Charleston (Tennessee), and St. Gabriel (Louisiana), which have a combined capacity of 45 tonnes/day.

“We believe this initiative will increase trust and transparency in the industrial hydrogen market,” comments Plug’s ceo Andy Marsh. “In five years, we anticipate most buyers will tap into the spot market to benefit from the flexibility it offers them.”

Plug is building an end-to-end green hydrogen ecosystem, offering solutions for production, storage, delivery and energy generation. It has deployed over 69,000 fuel cell systems and over 250 refuelling stations to date.

The company, which is currently developing several green hydrogen production plants, claims to be the largest buyer of liquid hydrogen in the world.