Plug Power Inc. (NASDAQ:PLUG), a leader in providing energy
solutions that change the way the world moves, has been named to
Deloitte's 2017 Technology Fast 500™, a listing of the 500 fastest
growing technology, media, telecommunications, life sciences and
energy tech companies in North America. The Deloitte Technology
Fast 500 is based on percentage of revenue growth from fiscal year
2013 to 2016, with Plug Power growing by 223 percent during this
period.
Plug Power is the undisputed leader in the
commercially-viable hydrogen and fuel cell market. In total, the
company has almost 19,000 GenDrive fuel cells deployed in
industrial electric vehicle applications with Fortune 500 companies
including Walmart, Amazon and Home Depot. The fleet has more
than 150 million run-hours, with operators completing more than 8.5
million hydrogen fuelings via its GenFuel hydrogen stations.
The company’s signature solution, GenKey, offers customers a
true turnkey solution that makes fuel cell adoption easier and
greatly improves efficiency and throughput.
Andy Marsh, CEO of Plug Power said, “Plug Power’s innovative
fuel cell solutions enable markets where asset utilization is
critical to operate at higher levels of productivity and
operational efficiency. Plug Power solutions provide an attractive
value proposition for material handling customers– industrial
electric vehicle users constantly seek productivity-enhancing
solutions that positively impact the bottom line.”
“As the trend to electrification of mobility spans the
industrial vehicle market, Plug Power has expanded to support fleet
vehicle applications like airport ground support equipment (GSE)
and electric delivery vans with its ProGen hydrogen fuel cell
engine solutions.” Marsh continued, “Plug Power has clearly
demonstrated its ability to adapt its modular ProGen fuel cell
engine technology to address the broader market outside of material
handling through initial success with on-road fleet vehicle
applications such as FedEx delivery vans and electric trucks in the
Chinese market.”
“The Deloitte 2017 North America Technology Fast 500
winners underscore the impact of technological innovation and world
class customer service in driving growth, in a fiercely competitive
environment,” said Sandra Shirai, vice chairman, Deloitte
Consulting LLP and U.S. technology, media and telecommunications
leader. “These companies are on the cutting edge and are
transforming the way we do business. We extend our sincere
congratulations to all the winners for achieving remarkable growth
while delivering new services and experiences for their
customers.”
“Emerging growth companies are powering innovation in the
broader economy. The growth rates delivered by the companies on
this year’s North America Technology Fast 500 ranking are a bright
spot for the capital markets and a strong indicator that the
emerging growth technology sector will continue to deliver a strong
return on investment,” said Heather Gates, national managing
director of Deloitte & Touche LLP’s emerging growth company
practice. “Deloitte is dedicated to supporting the best and
brightest companies of the future in the emerging growth company
sector. We are proud to acknowledge the significant accomplishments
of this year’s Fast 500 winners.”
Plug Power was previously named to Deloitte's Technology Fast
500™ list in 2016. Overall, 2017 Technology Fast 500™ companies
achieved revenue growth ranging from 135 percent to 59,093 percent
from 2013 to 2016, with median growth of 380 percent.
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 Deloitte’s 2017 Technology Fast
500™Deloitte’s Technology Fast 500 provides a ranking of
the fastest growing technology, media, telecommunications, life
sciences and energy tech companies — both public and private — in
North America. Technology Fast 500 award winners are selected based
on percentage fiscal year revenue growth from 2013 to 2016.
In order to be eligible for Technology Fast 500 recognition,
companies must own proprietary intellectual property or technology
that is sold to customers in products that contribute to a majority
of the company's operating revenues. Companies must have base-year
operating revenues of at least $50,000 USD, and current-year
operating revenues of at least $5 million USD. Additionally,
companies must be in business for a minimum of four years and be
headquartered within North America.
Deloitte refers to one or more of Deloitte Touche Tohmatsu
Limited, a UK private company limited by guarantee (“DTTL”), its
network of member firms, and their related entities. DTTL and each
of its member firms are legally separate and independent entities.
DTTL (also referred to as “Deloitte Global”) does not provide
services to clients. In the United States, Deloitte refers to one
or more of the US member firms of DTTL, their related entities that
operate using the “Deloitte” name in the United States and their
respective affiliates. Certain services may not be available to
attest clients under the rules and regulations of public
accounting. Please see www.deloitte.com/about to learn more
about our global network of member firms.
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 expectations regarding
growth in Europe, revenue, growth with GenKey customers and its
project financing platform. 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 that,
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, GenSure 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 (the “SEC”). For additional disclosure regarding these
and other risks faced by PLUG, see disclosures contained in PLUG's
public filings with 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
ContactTeal Vivacquamedia@plugpower.com
Plug Power Investor Relations
ContactJohn
Cococciainvestorrelations@plugpower.com
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