Plug Power Hydrogen and Fuel Cell Solution Earns a Spot on Food Logistics 2014 FL100+ List
December 16 2014 - 7:00AM
Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean,
reliable energy products, announced that it has been named to the
2014 Food Logistics FL100+ list. Food Logistics is the only
publication dedicated exclusively to the global food and beverage
supply chain. The publication's 11th annual FL100+ list profiles
innovative technology and software providers who influence the
global food and beverage supply chains.
Plug Power's notable solution, GenKey, is commercializing the
hydrogen and fuel cell market. GenKey helps food and beverage
companies smoothly transition their material handling vehicles over
to hydrogen fuel, with Plug Power serving as the single-source
vendor providing:
- GenDrive fuel cell units
- GenFuel hydrogen and fueling
infrastructure
- GenCare service and aftermarket support
GenKey was launched in January 2014, and Plug Power has already
closed more than a dozen GenKey deals. The foundation of GenKey is
based on customer trust – industry leaders such as Walmart and
Kroger have deeply invested in the Plug Power solution.
"2014 has been a breakout year for Plug Power as we've scaled
our business and proven the productivity benefits and
cost-effectiveness of our technology with major companies in North
America," said Andy Marsh, CEO at Plug Power. "This success will
translate into global momentum in material handling and other niche
markets. Plug Power is honored to be recognized for inclusion on
the FL100+ list, and we congratulate others that have been named as
well."
"The impact of software and technology on the global food supply
chain is truly profound," emphasizes Lara L. Sowinski,
Editor-in-Chief at Food Logistics. "Software solution providers,
equipment manufacturers and numerous technology innovations are
supporting growth in our industry while concurrently lowering
operating costs, improving productivity and enhancing visibility
from farm to fork."
Plug Power joins other companies who earned a spot on the FL100+
list, which is featured in the November/December 2014 issue of Food
Logistics, and is online at www.foodlogistics.com.
About Plug Power Inc.
The powerhouse in hydrogen fuel cell technology, Plug Power is
revolutionizing the industry with cost-effective solutions that
increase productivity, lower operating costs and reduce carbon
footprint. Its signature solution, GenKey, provides an
all-inclusive package for customers, incorporating GenFuel hydrogen
and fueling infrastructure, GenCare aftermarket service and either
GenDrive or ReliOn fuel cell systems. GenDrive, a lead-acid battery
replacement, is used in electric lift trucks in high-throughput
material handling applications. With more than 6,000 GenDrive units
deployed to material handling customers, GenDrive has been proven
reliable with over 25 million hours of runtime. And, ReliOn is Plug
Power's modular, scalable fuel cell for customers seeking solutions
in critical stationary power applications. Plug Power ReliOn
customers have installed fuel cells at more than 2,500 customer
locations globally. Plug Power manufactures tomorrow's incumbent
power solutions today, so customers can
POWERAhead. Additional information about the Plug
Power brands is available at www.plugpower.com.
Safe Harbor Statement
This communication contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995
that involve significant risks and uncertainties about Plug Power
Inc. ("PLUG"), including but not limited to statements about PLUG's
forecast of financial performance, order bookings, business model,
strategy and growth opportunities. You are cautioned that such
statements should not be read as a guarantee of future performance
or results, and will not necessarily be accurate indications of the
times at, or by which, such performance or results will have been
achieved. Such statements are subject to risks and uncertainties
that could cause actual performance or results to differ materially
from those expressed in these statements. In particular, the risks
and uncertainties include, among other things, the risk that we
continue to incur losses and might never achieve or maintain
profitability; the risk that we will need to raise additional
capital to fund our operations and such capital may not be
available to us; the risk that our lack of extensive experience in
manufacturing and marketing products may impact our ability to
manufacture and market products on a profitable and large-scale
commercial basis; the risk that unit orders will not ship, be
installed and/or converted to revenue, in whole or in part; the
risk that pending orders may not convert to purchase orders, in
whole or in part; the risk that a loss of one or more of our major
customers could result in a material adverse effect on our
financial condition; the risk that a sale of a significant number
of shares of stock could depress the market price of our common
stock; the risk that negative publicity related to our business or
stock could result in a negative impact on our stock value and
profitability; the risk of potential losses related to any product
liability claims or contract disputes; the risk of loss related to
an inability to maintain an effective system of internal controls
or key personnel; the risks related to use of flammable fuels in
our products; the cost and timing of developing, marketing and
selling our products and our ability to raise the necessary capital
to fund such costs; the ability to achieve the forecasted gross
margin on the sale of our products; the risk that our actual net
cash used for operating expenses may exceed the projected net cash
for operating expenses; the cost and availability of fuel and
fueling infrastructures for our products; market acceptance of our
products, including GenDrive, ReliOn and GenKey systems; the
volatility of our stock price; our ability to establish and
maintain relationships with third parties with respect to product
development, manufacturing, distribution and servicing and the
supply of key product components; the cost and availability of
components and parts for our products; our ability to develop
commercially viable products; our ability to reduce product and
manufacturing costs; our ability to successfully expand our product
lines; our ability to successfully expand internationally; our
ability to improve system reliability for our GenDrive, ReliOn and
GenKey systems; competitive factors, such as price competition and
competition from other traditional and alternative energy
companies; our ability to protect our intellectual property; the
cost of complying with current and future federal, state and
international governmental regulations; risks associated with
potential future acquisitions; and other risks and uncertainties
referenced in our public filings with the Securities and Exchange
Commission. For additional disclosure regarding these and other
risks faced by PLUG, see disclosures contained in PLUG's public
filings with the Securities and Exchange Commission (the "SEC")
including, the "Risk Factors" section of PLUG's Annual Report on
Form 10-K for the year ended December 31, 2013. You should consider
these factors in evaluating the forward-looking statements included
in this presentation and not place undue reliance on such
statements. The forward-looking statements are made as of the date
hereof, and PLUG undertakes no obligation to update such statements
as a result of new information.
CONTACT: Media Contact:
Teal Vivacqua
Plug Power Inc.
Phone: (518) 782-7700 ext. 1269
media@plugpower.com
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