McDermott's storage business, CB&I, will design and build two 500,000-gallon double-wall liquid hydrogen spheres for Plug Power Inc.'s (NASDAQ: PLUG) new green hydrogen production facility in Genesee County, New York. The production facility, leveraging Plug Power's proton exchange membrane (PEM) electrolyzer technology, is expected to produce 45 metric tons of green liquid hydrogen per day—making it the largest green hydrogen facility in North America.

The turnkey engineering, procurement and construction contract for both spheres also includes insulation, testing and painting with field erection taking place at Plug Power's 30-acre site at the Western New York Science, Technology and Advanced Manufacturing Park, also known as WNY STAMP.

"There are countless companies talking about liquid hydrogen storage, but CB&I leads the industry in the timely mechanical completion for projects of this scale and significance," said Cesar Canals, Senior Vice President, CB&I. "Plug Power is the single largest purchaser of liquid hydrogen in the world, and we are excited to be supporting them on this significant project."

The stainless-steel inner sphere, which holds the liquid hydrogen, will measure nearly 52 feet in diameter with an internal design pressure of 30 pounds per square inch and a design temperature of negative 423 degrees Fahrenheit. The outer sphere, which acts as an insulation container, will be fabricated using carbon steel with a diameter of nearly 60 feet.

"Insulation is a critical component of any double-wall sphere and CB&I is one of the only contractors in the country with an Insulation Betterment Center dedicated to achieving the best designs for the quality and longevity of any insulation system," said Canals. "Our insulation technology experts are involved from the start of any liquid hydrogen storage project to ensure that these systems achieve optimal thermal performance."

The project has passed final investment decision and is currently under construction.

CB&I is the world's leading designer and builder of storage facilities, tanks and terminals. With more than 59,000 structures completed throughout its 130-year history, CB&I has the global expertise and strategically located operations to provide its customers world-class storage solutions for even the most complex energy infrastructure projects. To learn more, visit www.cbi.com.

McDermott is a premier, fully integrated provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach engineered to responsibly harness and transform global energy resources into the products the world needs. From concept to commissioning, McDermott's innovative expertise and capabilities advance the next generation of global energy infrastructure—empowering a brighter, more sustainable future for us all. Operating in over 54 countries, McDermott's locally focused and globally integrated resources include more than 30,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world. To learn more, visit www.mcdermott.com.

McDermott cautions that statements in this communication which are forward-looking, and provide other than historical information, involve risks, contingencies and uncertainties. These forward-looking statements include, among other things, statements about the expected scope, timing and execution of the project discussed in this press release.  Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: adverse changes in the markets in which we operate or credit or capital markets; our inability to successfully execute on contracts in backlog; changes in project design or schedules; the availability of qualified personnel; changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties; changes in industry norms; actions by lenders, other creditors, customers and other business counterparties of McDermott and adverse outcomes in legal or other dispute resolution proceedings. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. You should not place undue reliance on forward-looking statements. This communication reflects the views of McDermott's management as of the date hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement.

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