Plug Power Expands FM Logistic Deployment With New Purchase Order
July 12 2016 - 7:00AM
Plug Power Inc. (NASDAQ:PLUG), a leader in providing energy
solutions that change the way the world moves, has received a new
purchase order from FM Logistic for use of Plug Power’s GenDrive
product in its 90,000 square meter logistics facility in
Neuville-aux-Bois, France. Plug Power’s world-class GenDrive fuel
cell units will be deployed in FM Logistic’s Toyota Material
Handling and Crown pallet jacks and reach trucks.
FM Logistic is a family-run business started in
1967 and is one of the leading logistics providers in the
European market. Today’s logistics leaders continuously demand
high-quality solutions to become more competitive and to
continuously improve its processes and resources to meet and exceed
customer’s needs.
Plug Power’s GenDrive fuel cell solution
displaces lead-acid batteries in electric lift trucks and enables
customers to increase the productivity of its operations, while
reducing operational costs. Plug Power has a suite of
CE-certified units available for European material handling
customers, including units to support pallet, reach, counterbalance
trucks, and tow tractors, enabling a full-fleet conversion.
Important to FM Logistic, the GenDrive fuel cell solution produces
no harmful emissions and eliminates the costs associated with
handling and storing toxic materials. Plug Power’s European
GenCare team will support the GenDrive-fleet.
“Plug Power continues to add new customer names
to our resume and we look forward to helping FM Logistic continue
to grow its business through the use of GenDrive fuel cells,” said
Andy Marsh, CEO of Plug Power. “Our expanded partnership with FM
Logistics further strengthens our value proposition that GenDrive
applies not just for our core large distribution center markets,
but also in extending to smaller-size distribution centers and to
the European logistics operations.”
FM Logistic is an international logistics provider operating in
13 countries including Russia, Brazil, China and India with
approximately 60 percent of its revenues coming from other
countries than France.
About Plug Power
Inc.
The architects of modern hydrogen and fuel cell technology, Plug
Power has revolutionized the industry with its simple GenKey
solution, elements of which are designed to increase productivity,
lower operating costs and reduce carbon footprints in a reliable,
cost-effective way. Plug Power’s GenKey solution couples together
all the necessary elements to power, fuel and service a customer.
Plug Power is the partner that customers trust to take their
businesses into the future. For more information about Plug Power,
visit www.plugpower.com.
About FM Logistic Group Since its creation in
1967, FM Logistic has become one of the international leaders in
the fields of warehousing, transport and packing. As an independent
Group, it is recognised as being expert in the consumer goods,
distribution, perfume/cosmetics, manufacturing and health markets.
FM Logistic is present in Asia, Eastern Europe, Central Europe,
Western Europe and Latin America with 20 000 staff members and over
a billion euros in revenue.
As well as internationalisation, FM Logistic’s development is
built on a strong policy of innovation and respect for the
environment. The Group pioneered the “pooling” concept (shared
transport and logistic resources), for which they received numerous
professional distinctions. As an eco-responsible company, FM
Logistic became a member of Green Freight Europe in 2014. The aim
of this programme is to improve the ecological performance of goods
transportation in Europe. In 2015, the Group created CityLogin, the
green solution to logistic requirements for the last mile of
delivery in major European cities. Further information:
www.fmlogistic.com
Safe Harbor StatementThis
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
2016 objectives, including goals relating to revenue, sales,
booking, gross margin and GenKey and GenFuel installations 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, GenSure 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,
2015. 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.
Plug Power Media Contact
Teal Vivacqua
518.738.0269
media@plugpower.com
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