Plug Power Participates in Industry-Wide Investor Day Highlighting Fuel Cell Commercial Activity
04 Novembre 2013 - 2:49PM
Event Sponsored by the U.S. Department of
Energy
Key Speakers Include Local and National
Government Representatives
Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean,
reliable energy solutions, today will join fuel cell industry
professionals in New York City, to participate in an investor day
sponsored by the U.S. Department of Energy (DOE) to showcase market
development and commercial success in the fuel cell industry. At
the event, fuel cell manufacturers, like Plug Power, will discuss
their organization's current progress and future plans to potential
investors, business partners and policy-makers to facilitate
investor awareness.
Andy Marsh, CEO for Plug Power will represent the company. Other
key presenters include:
- Steve Chalk – Deputy Assistant Secretary of Renewable Energy,
U.S. Department of Energy
- Congressman Paul Tonko (D-NY)
- Richard Kauffman – Chairman of Energy and Financing for New
York State
Plug Power and its customers were recipients of Recovery Act
funds through the U.S. Department of Energy's Office of Energy
Efficiency and Renewable Energy (EERE). This support accelerated
adoption of fuel cells as a power source in the material handling
market. Today, Plug Power has more than 4,000 GenDrive fuel cell
units operating at more than 40 sites. Plug Power's products are
deployed with Fortune 500 customers like Walmart, BWM, Sysco and
Mercedes-Benz.
Marsh will detail how the company is leveraging its commercial
success in material handling to explore market-driven expansion
opportunities through partnerships, exploiting its unique position
as the premier integrator of PEM fuel cells. Today, Plug Power is
validating markets where it can provide fuel cells, including
ground support equipment at airports, transport refrigeration units
and range extenders for electric vehicles.
"Plug Power would like to thank the Department of Energy for
organizing such a significant event," Marsh said. "It is very
important for the fuel cell industry that our commercial success
and future plans are promoted to the industry's stakeholders."
DOE funding through EERE has led to significant cost reductions
in hydrogen and fuel cell technologies, paving the way for
widespread commercialization across multiple applications, creating
domestic jobs and jumpstarting an emerging U.S. industry.
About Plug Power Inc.
The architects of modern fuel cell technology, Plug Power is
revolutionizing 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 Walmart,
Sysco, P&G and Mercedes. With more than 4,000 GenDrive units
deployed to material handling customers, accumulating over 12
million hours of runtime, Plug Power manufactures tomorrow's
incumbent power solutions today. Additional information about Plug
Power is available at www.plugpower.com.
Plug Power Inc. Safe Harbor Statement
This communication contains statements that are not historical
facts and are considered forward-looking within the meaning of
Section 27A of the Securities Act and Section 21E of the Exchange
Act. These forward-looking statements contain projections of our
future results of operations or of our financial position or state
other forward-looking information. We believe that it is important
to communicate our future expectations to our investors. However,
there may be events in the future that we are not able to
accurately predict or control and that may cause our actual results
to differ materially from the expectations we describe in our
forward-looking statements. Investors are cautioned not to unduly
rely on forward-looking statements because they involve risks and
uncertainties, and actual results may differ materially from those
discussed as a result of various factors, including, but not
limited to: the risk that we continue to incur losses and might
never achieve or maintain profitability, the risk that we expect we
will need to raise additional capital to fund our operations and
such capital may not be available to us; the risk that we do not
have enough cash to fund our operations to profitability and if we
are unable to secure additional capital, we may need to reduce
and/or cease our operations; the risk that a "going concern"
opinion from our auditors, KPMG LLP, could impair our ability to
finance its operations through the sale of equity, incurring debt,
or other financing alternatives; the recent restructuring plan we
adopted may adversely impact management's ability to meet financial
reporting requirements; 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; the risk that pending orders
may not convert to purchase orders; the risk that our continued
failure to comply with NASDAQ's listing standards may result in our
common stock being delisted from the NASDAQ stock market, which 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 Plug
Power's 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 as amended on April 30,
2013 and the reports Plug Power filed from time to time with the
SEC. These forward-looking statements speak only as of the date on
which the statements were made and are not guarantees of future
performance. Except as may be required by applicable law, we do not
undertake or intend to update any forward-looking statements after
the date of this communication.
CONTACT: North American Press Contact
The David James Agency LLC
David Rodewald / Karen Freedman
+1 805 494-9508
plugpower@davidjamesagency.com
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