Plug Power Inc. Named to Food Logistics’ Top Green Providers List for 2017
June 15 2017 - 7:00AM
Plug Power Inc. (NASDAQ:PLUG), a leader in providing energy
solutions that change the way the world moves, has been named to
the
Top Green Providers list for 2017 by Food
Logistics, the only publication exclusively dedicated to covering
the movement of product through the global food supply chain.
Food Logistics’ annual Top Green
Providers recognizes companies whose products,
services, or exemplary leadership is enhancing sustainability
within the food and beverage industry. Each year, the criteria for
earning a spot on the list become more stringent for
applicants.
Plug Power has proven its commitment to offering food and
beverage companies a sustainable power solution for their material
handling equipment. From modest fleet-sized customers, like Youngs
Market and Dietz and Watson, to large movers, like Walmart, Kroger
and Carrefour in Europe, Plug Power has helped customers convert
their material handling fleets to GenDrive fuel cell
power.
Running on hydrogen as a fuel source, Plug Power’s fuel cell
systems generate electricity with only heat and water as a
byproduct of the energy creation process. Through adoption, Plug
Power customers have seen up to an 80% reduction in site greenhouse
gas emissions. Today, Plug Power customers have operated with fuel
cell power for more than 135 million hours and have completed more
than 6.6 million hydrogen forklift fuelings.
“Plug Power customers have set an example for how green
solutions can be adopted in a way that increases performance,
revenue, and profitability for the business,” said Andy Marsh, CEO
of Plug Power. “Our solutions are truly making a difference in how
food and beverages are moved around the world, and we’re proud to
have made the Top Green Providers List for 2017.”
“The future viability of the world’s food supply chain is
dependent upon our ability to integrate sustainability from farm to
fork,” says Lara L. Sowinski, editorial director. “Transportation
and logistics comprise a significant part of that supply chain, and
we commend those companies in our industry that embrace their role
as environmental stewards, while raising the sustainability bar for
their peers.”
A list of Plug Power food and beverage customers can be found on
its website at
http://www.plugpower.com/customer/whos-using-gendrive/.
About Plug Power
Inc. The architect of modern hydrogen
and fuel cell technology, Plug Power is the innovator that has
taken hydrogen and fuel cell technology from concept to
commercialization. Plug Power has revolutionized the material
handling industry with its full-service GenKey solution, which is
designed to increase productivity, lower operating costs and reduce
carbon footprints in a reliable, cost-effective way. The Company’s
GenKey solution couples together all the necessary elements to
power, fuel and serve a customer. With proven hydrogen and fuel
cell products, Plug Power replaces lead acid batteries to power
electric industrial vehicles, such as the lift trucks customers use
in their distribution centers.
Extending its reach into the on-road electric vehicle market,
Plug Power’s ProGen platform of modular fuel cell engines empowers
OEMs and system integrators to rapidly adopt hydrogen fuel cell
technology. ProGen engines are proven today, with thousands in
service, supporting some of the most rugged operations in the
world. Plug Power is the partner that customers trust to take their
businesses into the future. www.plugpower.com.
About Food LogisticsFood
Logistics is published by AC Business Media, a business-to-business
media company that provides targeted content and comprehensive,
integrated advertising and promotion opportunities for some of the
world’s most recognized B2B brands. Its diverse portfolio serves
the construction, logistics, supply chain and other industries with
print, digital and custom products, events and social media.
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 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, 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,
2016. 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
media@plugpower.com
Plug Power Investor Relations Contact
John Cococcia
investorrelations@plugpower.com
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