Plug Power Ends First Quarter With Over 500 Fuel Cell Orders
01 Aprile 2011 - 4:29PM
Company Receives Orders From 5 New Customer Sites
for GenDrive Products
First GenDrive Product Order From
Europe Received
Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean,
reliable energy solutions, received 534 orders from material
handling customers for its GenDrive® fuel cell product during the
first quarter of 2011, ended March 31. Building off of momentum
from the fourth quarter of 2010, where the company received 419
GenDrive orders, this achievement set a new bar for both Plug Power
and the hydrogen fuel cell industry; never before has any fuel cell
manufacturer closed as many orders in one quarter of business.
Plug Power adds five new customer sites to its growing list of
fuel cell adopters. These new sites will receive a mix of class-1
units for sit down counterbalanced trucks, class-2 units for reach
trucks and class-3 units for rider pallet jacks. The GenDrive
products will power electric lift truck fleets in New York,
Massachusetts, Texas and New Jersey. Plug Power also received
follow-on orders for additional units from BMW in South Carolina
and Bridgestone in Tennessee.
During 2010, Plug Power had been focused on providing its
GenDrive product to customers in North America. But during the
first quarter of 2011, the company successfully entered the
European market with an order for ten GenDrive fuel cell units to
be supplied to a customer in France. These GenDrive units,
compatible with European-style lift trucks, will power a fleet used
to handle a large variety of welding supply components in a
distribution and warehousing center.
"Coming off of a tremendously successful year in 2010, our sales
team was pushed to not meet, but exceed, the targets put in front
of them," said Andy Marsh, CEO at Plug Power. "They accepted this
challenge head-on and delivered an extraordinary number of orders.
While a success for Plug Power, this is more a reflection of the
progressive material handling operations seen globally. Plug
Power's customers realize the necessity behind making changes in
how they use energy, today, to benefit the perception and
utilization of fuel cell energy in the future."
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 Walmart Canada,
BMW, 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 and shipments for 2011. 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, but not limited to: the risk
that we continue to incur losses and might never achieve or
maintain profitability, the risk that the additional capital we
expect we will need to raise to fund our operations beyond the
first quarter of 2012 may not be available; 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 our continued
failure to comply with NASDAQ's listing standards may severely
limit our ability to raise additional capital; 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 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 systems; 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 our GenDrive
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; 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, 2010,
filed with the Securities and Exchange Commission ("SEC") on March
31, 2011, 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
Grafico Azioni Plug Power (NASDAQ:PLUG)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Plug Power (NASDAQ:PLUG)
Storico
Da Lug 2023 a Lug 2024
