Governor Hochul: "This is a new chapter in the green energy revolution. As the story's being written, the story unfolds. Everyone will look back, that this is the place where a fascinating part of this grew right here."

Hochul: "All the workers, all the true believers, all the environmentalists, all the individuals who give a damn about the future. We're here to say we do care. We're making a difference. It's happening in places like Plug Power."

Earlier today, Governor Kathy Hochul announced the completion of Plug Power's (NASDAQ: PLUG) 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.

VIDEO of the event is available on YouTube here

A rush transcript of the Governor's remarks are available below:

Thank you. Andy, this is nothing short of extraordinary. Thank you. This is why we do get up at two in the morning like today which will wrap up in Lake Placid when we do the Opening Ceremonies for the World University Games. So, make sure you get up there and see the competition.

But when I think about what I'm most proud of in New York State, yes, it's being able to attract the World University Games, competing with other countries. Yes, it's a lot of other initiatives we launched in our State of the State address just a couple days ago. But really, what excites me are opportunities like this. To know that yes, we have leaders - visionaries - like Andy Marsh, who planted the flag here back in 1997, right here in the Capital Region, and said, "We can do something quite extraordinary, and no one has ever done it before, but we're going to do it right here in New York." And it wasn't created here in New York and go make it somewhere else. You know, we didn't take this over to China. We're doing it right here. And I thank you for having the faith in our leadership, the faith in New York, and the faith in the workforce, which is second to none in this nation. So, thank you, Andy.

I know Senator Schumer will be joining us momentarily, but I also want to thank our Majority Leader for delivering for us in Washington in ways that only a Majority Leader can. So, we're very, very blessed to have Senator Schumer as an amazing partner on semiconductors and green energy and the Green Chips Bill we did in Washington and replicated here in New York State. Congressman Paul Tonko. I don't see Paul. Paul used to be head of NYSERDA. So, when I first served in Congress with him, all he talked about was energy projects. So, I know he's here in spirit, right? It's all he talks about. But it's good to have someone like that representing this area, bringing those jobs right back here as well.

Our other supporters and friends, Pat Fahy, thank you so much for your friendship. Our Assemblymember John McDonald has joined us. Yes, our Albany Mayor Kathy Sheehan, who is presiding over transformative projects in this whole region. Thank you, Mayor. Our County Executive Dan McCoy, who you'll be hearing from very shortly.

And as I said before, last time we were here on that very cold day in March - although I said we'll be back on a much warmer day, I'm sure. I wasn't right about that. But our local supervisors, because I spent 14 years in local government, I know how communities can say no. I know how they can say yes. And the partnership that the two of you have formed, Supervisor VanLuven and Supervisor LaGrange, is really a testament to what two communities can do to put your beautiful place in our state on the map as the home to literally 1,600 jobs. I would've, for me in the local government, that would've been a very big deal. So, congratulations on getting it done, Supervisors.  

Also, Mike Lyons, the President of the Greater Capital Building Trades. Thank you, Mike, for reminding us of where our workforce comes from. And Andy mentioned, but I want to give a special shout out to the most extraordinary team ever assembled in state government. Those are the ones who worry about the future of our environment, renewable energy, making sure that we take care of the people of this state, but also creating incentives so the businesses that were born here can stay here and businesses from all over the state will want to come here. So, I want to thank Doreen Harris, head of NYSERDA, Hope Knight, our head of Empire State Development, Basil Seggos, our head of the DEC, Roberta Reardon, the head of the Department of Labor and Justin Driscoll, the head of NYPA. Thank you.  

So, this is a new chapter in the green energy revolution. As the story's being written, the story unfolds. Everyone will look back, that this is the place where a fascinating part of this grew right here. But also, as I see the progression of Plug Power - yes, we're proud here in the Capital Region, but I also look to the far western part of the state. And you think about the power that is generated in a place called Niagara Falls. You ever hear of Niagara Falls? Probably the world's first renewable, at least in our state, the power that comes from the power of Niagara Falls back when I was a new Governor in 2021 and went to a place called Batavian, the Stamp Project, and we announced that green hydrogen will be generated there that can create many, many jobs. And now we move across the state and see that this opportunity to have a 55 point million-dollar project, you don't get those every single day, creating 1,600 more jobs on top of the jobs you have, on top of 1,400 you already have. I mean, your growth is incredible. That's why I have to build so many houses - I talked about this in my State of the State - because I have to make sure all your workers have a place to live. So, see this, everybody. Let's get the housing done.

What you're doing is incredible to think that you can have fuel cells to power small trucks and forklifts. Now, most of you don't think about small trucks and forklifts every single day, but if you're working inside a warehouse and you have a fossil fuel generated forklift lifting up everything that a forklift does, it makes a difference of how that is powered. And he has arrived - let's give a round of applause to the Majority Leader of the United States Senate. Our great Senator, our own Chuck Schumer. Let's give him a round of applause, Senator.

So, it's inside these factories, these warehouses where the polluting air actually hurts our workers. It hurts the wellbeing of working men and women of labor. We have to protect them. But forklifts powered by fuel cells that are zero emission - it's a healthy, cleaner environment for not just all of us but the workforce. And that's something that I think gets overlooked. So, the potential for fuel cell technology is limitless. And I always say, what does it look like? And then I said, is this a license plate? Looks like to me, like a license plate. This is the foundation of what the people here in factories like this all across New York are building. So, this is the foundation, this is the vision, this is the innovation that is leading us into a different future, and I'm very, very excited about this. This 400,000 square foot expansion will mean we can produce even more clean, green energy. And yes, thank you ESD for having the vision to save $45 million in Excelsior tax credits, our Green Excelsior tax credits and NYPA for the reduced energy costs through the Recharge New York program because as you heard in our address, New York will continue to lead the nation in our fight against climate change.

And I laid out some new strategies. They're new, people are thinking about them. What is this all about? My team's been thinking about this for a long time. They said, "The future is not tomorrow. The future has to start happening today." We have to have a Cap-and-Invest Program to cap greenhouse emissions, invest in the clean economy, and prioritize the health of our citizens.

So, NYSERDA and DEC will be setting up an annual cap on pollution. The largest polluters will have to pay more to wean them off of fossil fuels and the money driven from this will go rightly, quickly to our consumers to help them with the transition costs. And that's how we align our climate goals, stop the pollution, but also help defray the costs for our farmers and small businesses and our residents. So, that's how we're going to do it. We'll also be prioritizing communities that have been disproportionately impacted, help build into energy efficiency, clean transportation. And also, an annual climate action rebate. So, we will continue to meet our goals, which are the most ambitious in the nation, 70% of renewables from 2030, 85% emissions from 2050.

We're not daunted by this. Other states say, no, that's too much. We can't do that. Here we say it's big, it's hard, and it will be done because our future and our kids and our grandkids - I was just looking at a picture of Dan McCoy's beautiful year-old granddaughter, we're doing it for her and all the children who deserve to grow up in a clean environment where their parents and grandparents had the vision. People like Andy Marsh had a vision that has realized today, yes, it's a business. Yes, it's great jobs, but this is for our planet. This is what's at stake here, and so we'll continue doing this, creating more jobs in our green energy economy. Our jobs grew faster in this economy than any other sector, almost 5 percent during a time when others were slowing down.

But I'm honored to be here. I'm honored to be leading a state that understands the stakes could not be higher for what we're doing today in places like Plug Power. So, to all your employees, all the workers, all the true believers, all the environmentalists, all the individuals who give a damn about the future. We're here to say we do care. We're making a difference. It's happening in places like Plug Power. Honored to be here. Congratulations, Andy, on this huge milestone and look forward to cutting the ribbon momentarily on this incredible project and look forward to continued future growth in the State of New York. Thank you very much.