Another Sysco Distribution Center Converts to Plug Power GenDrive Fuel Cells
19 Gennaio 2011 - 1:00PM
Plug Power Inc. (Nasdaq:PLUG) a leader in providing clean, reliable
energy solutions announced the third purchase order it has received
from Sysco Corporation for its GenDrive® fuel cell units. The
current order comes from Sysco's Front Royal Virginia Baugh
Northeast Co-op, Inc. redistribution facility where 100 hydrogen
fuel cell units will power the electric lift truck fleet in the
800,000 sq. ft. redistribution center. The order includes:
- 5 class-1 GenDrive units to be used in sit down counterbalanced
trucks
- 76 class-2 GenDrive units to be used in standup reach
trucks
- 19 class-3 GenDrive units to be used in pallet jacks
Plug Power received the order from Sysco in November, 2010 and
delivered 19 class-3 GenDrive units to the customer in December,
2010.
Baugh Northeast has, to date, used lead-acid batteries to power
its lift truck fleet. By changing to GenDrive power units, the
company will eliminate the need to purchase multiple batteries for
each lift truck. Conversion to fuel cells will allow increased
fleet utilization and productivity within the facility.
Improvements in operational costs will be identified as the
infrastructure associated with the lead-acid battery charging,
changing and maintenance is removed opening up 5,000 sq. ft. of
facility space to use for other business operations.
In addition to increased productivity with lower operational
costs, Baugh Northeast will also see an improvement in its
environmental footprint. As an alternative energy power unit,
GenDrive generates only heat and water as byproducts, reducing
greenhouse gas emissions at the Virginia site. By implementing
GenDrive solutions, Plug Power customers have been able to reduce
greenhouse gas emissions by up to 80 percent.
"Once again, Sysco has distinguished itself as a
forward-thinking industry leader," said Andy Marsh, CEO at Plug
Power. "And for Plug Power, it's extremely rewarding to see our
commercially viable GenDrive products making a substantial impact
for another repeat customer. I'm optimistic that we'll see more of
Sysco's distribution centers convert to fuel cells as the benefits
continue to be realized within the organization." Baugh Northeast
is the third Sysco facility to convert its lift truck fleet to
GenDrive fuel cells. Prior conversions have occurred at the Sysco
Houston and Sysco Philadelphia sites.
About Plug Power Inc.
The architects of modern fuel cell technology, Plug Power
revolutionized the industry with cost-effective power solutions
that increase productivity, lower operating costs and reduce carbon
footprints. Long-standing relationships with industry leaders
forged the path for our key accounts, including Wegmans, Whole
Foods, and FedEx Freight. With more than 1,000 units in the
field and over 2 million hours of runtime, Plug Power manufactures
tomorrow's incumbent power solutions today. Visit us at
www.plugpower.com.
The Plug Power Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=4446
Plug Power Inc. Safe Harbor
Statement
This communication contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including but not limited to expectations regarding revenues
and product orders for 2010. These statements are based on current
expectations that are subject to certain assumptions, risks and
uncertainties, any of which are difficult to predict, are beyond
our control and that may cause our actual results to differ
materially from the expectations in our forward-looking statements
including statements regarding the risk that unit orders will not
ship, be installed and/or convert to revenue, in whole or in part;
the cost and timing of developing our products and our ability to
raise the necessary capital to fund such development costs; the
ability to achieve the forecasted gross margin on the sale of our
products; the 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 GenDrive system; 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 improve system reliability for GenDrive;
competitive factors, such as price competition and competition from
other traditional and alternative energy companies; our ability to
manufacture products on a large-scale commercial basis; our ability
to protect our intellectual property; the cost of complying with
current and future governmental regulations; and other risks and
uncertainties discussed under "Item IA-Risk Factors" in our annual
report on Form 10-K for the fiscal year ended December 31, 2009,
filed with the Securities and Exchange Commission ("SEC") on March
16, 2010, and the reports we file from time to time with the
SEC. Plug Power does not intend to, and undertakes no duty to
update any forward-looking statements as a result of new
information or future events.
CONTACT: Media Contact:
Reid Hislop
Plug Power Inc.
Phone: (518) 782-7700 ext. 1360
Investor Relations Contact:
Cathy Yudzevich
Plug Power Inc.
Phone: (518) 782-7700 ext. 1448
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