Plug Power Receives Milestone Order From Walmart for Multi-Site Hydrogen Fuel Cell Deployment
26 Febbraio 2014 - 1:00PM
Plug Power Inc. (Nasdaq:PLUG) today confirms the company has
received a multi-site GenKey purchase order from Walmart Stores,
Inc. to roll out its hydrogen fuel cell solution to power electric
lift truck fleets at six North America distribution centers. The
first of six sites will be deployed by the second quarter of 2014.
Further purchase order terms for the multi-site order initially
announced on February 10, 2014 include:
- Total of 1,738 GenDrive fuel cell units, to be
deployed over two years
- GenFuel infrastructure construction and
hydrogen fuel supply
- Six-year GenCare service contract for each
site
GenDrive hydrogen fuel cells have universal appeal in material
handling applications because they can contribute to an increase in
productivity. Workers spend less time fueling a forklift truck as
compared to changing a lead-acid battery, resulting in less
downtime. GenDrive fuel cells also have no exhaust emissions so
that they can be a component in implementing corporate
environmental initiatives.
"We are pleased with the performance of the hydrogen fuel cells
that we have been operating and are excited to expand our program
with Plug Power," said Jeff Smith, Senior Director for Walmart
Logistics.
"This agreement is a tripling of Walmart's commitment to Plug
Power's fuel cells, and is encouraging because it comes from a
company with so much experience using our product," said Andy
Marsh, CEO at Plug Power. "This is a milestone for Plug Power and
its ongoing business relationship with Walmart. Plug Power's
GenDrive products have a positive impact on the productivity of our
customer's operations. We have proven to be a trusted partner and
are confident that GenKey will enhance Walmart's material handling
operations."
Walmart currently has 535 GenDrive fuel cell units in operation
at sustainable refrigerated distribution centers, including two
sites in Canada and one in the United States. Specifically,
Walmart's Balzac, Canada, fresh food distribution center is the
most energy-efficient distribution facility of its kind in North
America. Additionally, the Walmart Washington Courthouse
distribution center in Ohio was the launching point of the GenFuel
business.
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,
including Walmart, Sysco, Procter & Gamble, and Mercedes Benz,
forged the path for Plug Power's innovative GenKey hydrogen and
fuel cell system solutions. With more than 4,500 GenDrive units
deployed to material handling customers, accumulating over 20
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 of 1933 and Section 21E of the
Securities Exchange Act of 1934, including but not limited to
statements regarding our expectations regarding the timing and
rollout of the new GenKey contract, the performance of our GenKey
offering and the expansion into new markets. 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 may need to raise additional
capital to fund our operations and such capital may not be
available to us; the risk that we may 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; 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 we fail to comply
with NASDAQ's listing standards which 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 risk that our actual net cash used for operating
expenses exceeds our 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: Plug Power Contact:
Teal Vivacqua
518.738.0269
investor_relations@plugpower.com
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