Photo Release -- Plug Power Introduces Next Generation of GenDrive Fuel Cell Products
24 Ottobre 2011 - 1:00PM
Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean,
reliable energy products, today announced the next generation of
its widely deployed GenDrive® fuel cell products. Designed as a
drop-in replacement for lead-acid batteries in electric lift
trucks, GenDrive now features a number of enhancements designed to
increase reliability and improve lift and towing capacity.
A photo accompanying this release is available
at http://www.globenewswire.com/newsroom/prs/?pkgid=10904
With a simplified architecture and common system platform
featuring 30 percent fewer components, GenDrive now provides
customers with greater flexibility in managing deployments. "With
our application knowledge and advanced technical capabilities, Plug
Power has been able to enhance our GenDrive product offerings in a
way that simplifies the system and reduces the parts necessary to
manufacture the units," said Adrian Corless, CTO at Plug Power. "As
a result, the customer benefits from improved reliability and
performance within their lift truck fleet, an important element to
building a highly-efficient operation."
The next-generation GenDrive products leverage Plug Power's
material handling market expertise and are specifically designed to
incorporate the lift truck power needs of its material handling
customers. For example, lower-priced GenDrive product options are
now available to help customers more cost-effectively meet order
picking requirements.
GenDrive units have accumulated more than 5 million hours of
runtime at customer sites across North America. Plug Power remains
the leader in fuel cell system product deployments, including live
sites at Walmart, Sysco, BMW and Coca-Cola. On average, GenDrive
customers increase productivity by up to 15 percent, lower
operational costs by up to 30 percent and reduce site greenhouse
gas emissions by up to 80 percent.
"The expansion of our GenDrive product line will provide Plug
Power customers with a rugged and reliable power solution to meet
their operational and environmental needs," said Andy Marsh, CEO at
Plug Power. "With improved performance and versatility, the
next-generation GenDrive product line will help increase lift truck
efficiency, while driving down operating costs. Plug Power is now
able to service more of the material handling market, enabling more
full-fleet conversions of customers eager to adopt this
commercially viable solution."
Plug Power will be demonstrating the capabilities of its
next-generation GenDrive fuel cell products in booth 441 at the
International Foodservice Distributors Association's (IFDA)
Distribution Solutions Conference, taking place October 24 -
26, 2011 at the Fort Worth Convention Center in Fort Worth, TX.
Plug Power Vice President of Sales and Service, Erik Hansen, will
participate in a conference panel discussion on fuel cell
technology on Monday, October 24 at 9:30 a.m. in room 202B. In
addition, qualified customers who visit the Plug Power booth will
be entered to win a free, one-week demonstration of the GenDrive
product series.
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 Plug Power's key accounts, including Wegmans,
Whole Foods, and FedEx Freight. With more than 1,200 GenDrive
units shipped to material handling customers, accumulating over 5
million hours of runtime, Plug Power manufactures tomorrow's
incumbent power solutions today. Additional information about Plug
Power is available 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. 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 Plug Power's control and
that may cause Plug Power's actual results to differ materially
from the expectations in Plug Power's forward-looking statements
including statements regarding the risk that revenue growth can or
will be sustained, that unit orders will not ship, be installed
and/or convert to revenue, in whole or in part; the cost and timing
of developing Plug Power's products and its ability to raise the
necessary capital to fund such development costs; the risk that the
previously disclosed expected uses of the Company's recently raised
capital may change; the ability to achieve the forecasted gross
margin on the sale of Plug Power's 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 Plug Power's products; market acceptance of
Plug Power's GenDrive system; Plug Power's 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 Plug Power's products; Plug Power's
ability to develop commercially viable products; Plug Power's
ability to reduce product and manufacturing costs; Plug Power's
ability to successfully expand its product lines; Plug Power's
ability to improve system reliability for GenDrive; competitive
factors, such as price competition and competition from other
traditional and alternative energy companies; Plug Power's ability
to manufacture products on a large-scale commercial basis; Plug
Power's ability to protect its intellectual property; the cost of
complying with current and future governmental regulations; and
other risks and uncertainties discussed under "Item IA-Risk
Factors" in (i) Plug Power's 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 (ii) in Plug
Power's quarterly report on Form 10-Q for the quarter ended March
31, 2011 filed with the SEC on May 13, 2011, as well as in the
other reports Plug Power files 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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