Ace Hardware Deploying 65 GenDrive Fuel Cells From Plug Power
02 Aprile 2013 - 1:00PM
Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean,
reliable energy solutions, today announced it will deploy a fleet
of 65 GenDrive™ fuel cell units for customer, Ace Hardware
Corporation. The power units will be used at Ace Hardware's newest
Retail Support Center, located in Wilmer, Texas. Construction on
the facility broke ground in mid-March for completion in early
2014. The lift trucks are manufactured by Crown Equipment
Corporation.
Plug Power's GenDrive units competed against lead-acid batteries
and fast charge batteries to be deemed the best power source for
material handling fleet. GenDrive is able to offer Ace Hardware
increased productivity of its lift truck fleet as well as a more
efficient use of its facility space. Operational costs are reduced
as a result of decreased operator and vehicle off floor time.
GenDrive fuel cells can be fueled by truck operators in less than
two minutes.
Ace Hardware will also see reduced greenhouse gas emissions by
using GenDrive power units in its operations. Because GenDrive is
powered by hydrogen, the only by-products are heat and water. The
removal of toxic lead-acid batteries from this new facility also
creates a safer environment for employees as well as the community
and helps fulfill Ace's desire to improve the sustainability of
their distribution centers.
"We look forward to working with Ace Hardware as yet another new
customer in the Plug Power lineup. Over the next six to 12 months
Ace Hardware will see improved productivity, lower electrical bills
and more floor space available for storing goods," said Andy Marsh,
Plug Power's CEO.
"Ace Hardware is pleased to align with Plug Power, an
organization that will help drive our commitment to clean energy,"
said Dave Forte, Director of Distribution Support and Engineering,
Ace Hardware Corporation. "The implementation of a hydrogen fuel
cell based application for our material handling equipment advances
our strategy to provide the highest level of support to our
customers and the communities that we serve, and that includes
distribution centers that are focused on sustainability."
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 3,500 units in the field
and over 6 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
About Ace Hardware
For nearly 90 years, Ace Hardware has been known as the helpful
hardware store in thousands of neighborhoods across America,
providing customers with a more personal kind of helpful. With more
than 4,600 hardware stores locally owned and operated across the
globe, Ace is the largest hardware cooperative in the industry.
Headquartered in Oak Brook, Ill., Ace and its subsidiaries
currently operate 14 distribution centers in the U.S and also have
distribution capabilities in Shanghai, China; Panama City, Panama;
and Dubai, United Arab Emirates. Its retailers' stores are located
in all 50 states, the District of Columbia and approximately 60
countries. For more information on Ace, visit
www.acehardware.com.
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 2013. 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, 2012,
filed with the Securities and Exchange Commission ("SEC") on April
1, 2013, 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:
Erik Hansen
Plug Power Inc.
Phone: (518) 478-5996
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