Plug Power Hosts New York Senator Charles E. Schumer at Manufacturing Facility to Perform Plug Power’s One Millionth GenFue...
01 Febbraio 2016 - 9:00PM
Plug Power Inc. (NASDAQ:PLUG), a leader in providing clean,
reliable energy solutions, hosted New York Senator Charles E.
Schumer at the Plug Power headquarters where he performed the one
millionth hydrogen refueling from a GenFuel dispenser into a
GenDrive fuel cell unit. Senator Schumer spent approximately one
hour speaking to Plug Power employees, reinforcing his continued
support for hydrogen and fuel cell technology.
Senator Schumer has supported and championed
hydrogen and fuel cell policy throughout his entire term in Senate,
including the critical clean energy investment tax credit that has
enabled Plug Power, and the fuel cell industry, to realize
commercial success in real-world applications. Senator Schumer’s
last visit to Plug Power was in 2010. Since that time, Plug Power
has:
- Increased revenue from $19.5 million to over $100 million
annually
- Increased shipped units from 650 to 3,600 annually
- Increased employee count from 87 to 339 in the United
States
“This tax credit not only incentivizes businesses to purchase
clean, American-made fuel cells from innovative companies like Plug
Power, but it is also a proven job creator. When I was last here in
2010, Plug Power was beginning to take advantage of the fuel cell
ITC. Today, this company’s revenue has increased by over 400
percent and its workforce has more than tripled to
over 330 employees. This credit has helped power-up jobs
and economic development in the Capital Region in the past and will
continue to do so into the future, so long as both sides of the
aisle can come together and make this extension a reality,”
said Schumer. “I will be fighting tooth and nail to get this
done – because this pro-business credit will allow companies like
Plug Power, as well as the entire Capital Region, to reap the
transformative economic benefits the fuel cell ITC has proven to
sow for a generation to come.”
Additionally, with support from policy enacted
by Senator Schumer, Plug Power has vertically integrated its
business to include in-house manufacturing of fuel cell stacks and
hydrogen fueling infrastructure. Plug Power launched its GenFuel
hydrogen business in 2014, and in two short years, has realized the
one millionth refueling from a GenFuel dispenser into a GenDrive
unit.
At sites across North America and Europe, Plug
Power customers dispense more than 2.5 tons of hydrogen daily and
perform in excess of 3,000 fuelings a day. With support from policy
proposed by Senator Schumer, Plug Power expects these numbers to
double in 2016.
“We’re proud to bring jobs and manufacturing to
the United States and upstate New York,” said Andy Marsh, CEO of
Plug Power. “Plug Power is thankful for Senator Schumer’s continued
support as we have grown the fuel cell market into a commercial
powerhouse in America.”
About Plug Power Inc.
The powerhouse in hydrogen fuel cell technology,
Plug Power is revolutionizing the industry with cost-effective
solutions that increase productivity, lower operating costs and
reduce carbon footprint. Its signature solution, GenKey, provides
an all-inclusive package for customers, incorporating GenFuel
hydrogen and fueling infrastructure, GenCare aftermarket service
and either GenDrive or ReliOn fuel cell systems. GenDrive, a
lead-acid battery replacement, is used in electric lift trucks in
high-throughput material handling applications. With more than
10,000 GenDrive units deployed with material handling customers,
GenDrive has been proven reliable with over 107 million hours of
runtime. Plug Power manufactures tomorrow’s incumbent power
solutions today, so customers can POWERAhead. Additional
information about the Plug Power brands is available at
www.plugpower.com.
Plug Power Media Contact
Teal Vivacqua
518.738.0269
media@plugpower.com
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