Plug Power Named to Food Logistics’ Top Green Providers List for 2020
June 17 2020 - 9:24AM
Plug Power Inc. (NASDAQ:PLUG), the leading company building the
clean hydrogen economy, has been named to the Top Green Providers
list for 2020 by Food Logistics, the only publication exclusively
dedicated to covering the movement of products through the global
food supply chain.
Food Logistics’ annual Top Green Providers recognizes companies
whose products, services, or exemplary leadership are enhancing
sustainability within the food and beverage industry. Each year,
the criteria for earning a spot on the list become more stringent
for applicants. For example, the editorial staff evaluates a
company’s participation in such programs as the EPA’s SmartWay and
other recognized sustainability programs; facilities that are
LEED-certified, and/or feature solar panels, LED lighting, and
other energy saving installations and retrofits that produce
measurable reductions in GHG emissions, to name a few.
2020 marks the fourth year in a row that Plug Power has been
named on the Top Green Providers list. Plug Power products move 30%
of the retail food and groceries through the United States, an
increase from 25%, as a result of support provided during the
COVID-19 crisis. In 2020, Plug Power’s hydrogen fuel cell
(HFC) solutions will provide the power for middle-mile and
last-mile delivery vehicles as well, improving the sustainability
of the entire logistics chain. Improved efficiency, reliability,
and cost efficacy—combined with access to fleet performance
data—has continued to increase the adoption of HFCs in the food
logistics space: 32,000 fuel cell-powered forklifts have completed
over 27 million hydrogen fills. Plug Power enables customers of all
sizes, including leading retail giants like Walmart and Carrefour
(France), to reach new heights in facility productivity with
affordable, efficient, and clean hydrogen and fuel cell power.
“Our annual Top Green Providers award recognizes companies whose
products, services or exemplary leadership enhances sustainability
within the food and beverage industry. From technology that reduces
a fleet's carbon footprint to software that helps shippers drive
energy efficiency to systems and processes that help reduce the
carbon and environmental impact of its customers’ supply chains,
these top green providers continue to practice the ultimate in
sustainability year over year,” said Marina Mayer, Editor-in-Chief
of Food Logistics.
“The benefits of hydrogen fuel cells are seen every day,
resulting in an increase of more than 200 hours of pick time per
year per vehicle in a 3-shift facility, versus a battery-powered
forklift,” said Andy Marsh, CEO of Plug Power. “We’re honored
to be named to the Top Green Providers list for the fourth time as
we continue to build and expand our portfolio of advanced
technology, zero emission commercial solutions that enable
customers in all parts of the supply chain to move product around
the world in the cleanest way possible.”
About Plug Power
Inc.
Plug Power is building the hydrogen economy as the leading
provider of comprehensive hydrogen fuel cell (HFC) turnkey
solutions. The company’s innovative technology powers electric
motors with hydrogen fuel cells amid an ongoing paradigm shift in
the power, energy, and transportation industries to address climate
change and energy security, while providing efficiency gains and
meeting sustainability goals.
Plug Power created the first commercially-viable market for HFC
technology. As a result, the company has deployed over 32,000 fuel
cell systems for e-mobility, more than anyone else in the world,
and has become the largest buyer of liquid hydrogen, having built
and operated a hydrogen highway across North America. Plug Power
delivers a significant value proposition to end-customers,
including meaningful environmental benefits, efficiency gains, fast
fueling, and lower operational costs.
Plug Power’s vertically-integrated GenKey solution ties together
all critical elements to power, fuel, and provide service to
customers such as Amazon, BMW, The Southern Company, Carrefour, and
Walmart. The company is now leveraging its know-how, modular
product architecture and foundational customers to rapidly expand
into other key markets including zero-emission on-road vehicles,
robotics, and data centers. https://www.plugpower.com
About Food Logistics
Food 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.
Plug Power 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, 2019. 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.
SOURCE: PLUG POWER
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