Plug Power Showcases World-Class Efficiency and Reliability Features to Class-3 Pallet Jack Fuel Cell on Display at MODEX 201...
05 Aprile 2016 - 1:00PM
Plug Power Inc. (NASDAQ:PLUG), a leader in providing clean,
reliable energy solutions, showcases its next generation GenDrive
3340 class-3 pallet jack fuel cell solution at the MODEX trade show
currently open at the Georgia World Congress Center in Atlanta. The
GenDrive 3340 is on display at MODEX 2016 in the Plug Power booth
#1023. Show attendees are invited to simulate a refueling from a
GenFuel hydrogen dispenser into the GenDrive fuel cell.
This next generation GenDrive fuel cell system
couples the product enhancements learned from over 100 million
hours of field runtime with Plug Power’s proprietary proton
exchange membrane (PEM) fuel cell stack technology.
This highly reliable system features a new
advanced control system, improved system fuel efficiency, and
real-time communication capability when paired with Plug Power’s
intelligent GenFuel hydrogen infrastructure products. This
innovative system allows remote access to real-time performance
data and diagnostics by the GenCare services team, resulting in
improved fleet performance. This ‘Internet of Things’ capability,
which connects Plug Power GenDrive product and application data, is
a key enabler to continuous improvement in field reliability and
productivity. This intelligence debuts on the GenDrive 3340 and
will be a standard feature on all future GenDrive products.
The GenDrive 3340 fuel cell holds enough fuel to
sustain a pallet jack for an entire eight-hour shift. Fueled in
approximately 90 seconds, GenDrive reduces vehicle and personnel
downtime. Power remains consistent during the shift and throughout
the life of the product. The GenDrive 3340 has a wide operating
temperature range and is designed for use in freezer applications
as low as -30 °C.
“Forklift truck uptime is key to warehouse
productivity and success, and the intelligence capabilities in the
3340 help us to keep our customers up and running at all times,”
said Andy Marsh, CEO of Plug Power. “We’re excited to share the
innovations made in the 3340 as this is just the first step in
integrating smart technology into our hydrogen and fuel cell
products.”
Plug Power will hold a press conference today, Tuesday, April 5
at 10:15 a.m. local time at the Plug Power booth #1023. Plug Power
CEO Andy Marsh will speak about the company’s new brand and its
leadership in hydrogen solutions for the material handling
industry. Its innovative GenDrive 3340 fuel cell will be on display
and attendees are invited to simulate a refueling from a GenFuel
hydrogen dispenser into the GenDrive fuel cell. At the press
conference, Mr. Marsh will take questions from the audience.
GenDrive Series 3000 fuel cells are made in Plug
Power’s Latham, New York, plant and are ideal for end rider pallet
trucks, center rider pallet trucks, automated guided vehicles and
tow tractors and offer flexible product configurations to meet a
variety of power and price needs. Plug Power also offers a variety
of products for class-1 and 2 electric lift trucks. For more
information, visit http://www.plugpower.com/.
About Plug Power
Inc.The architects of modern hydrogen and fuel cell
technology, Plug Power has revolutionized the industry with its
simple GenKey solution, elements which are designed to increase
productivity, lower operating costs and reduce carbon footprints in
a reliable, cost-effective way. Plug Power’s GenKey solution
couples together all the necessary elements to power, fuel and
service a customer. Plug Power is the partner that customers trust
to take their businesses into the future. For more information
about Plug Power, visit www.plugpower.com.
Safe Harbor
StatementThis communication contains
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 that involve significant
risks and uncertainties about Plug Power Inc. ("PLUG"), including
but not limited to statements about PLUG's 2016 objectives,
including goals relating to revenue, sales, booking, gross margin
and GenKey and GenFuel installations You are cautioned that such
statements should not be read as a guarantee of future performance
or results, and will not necessarily be accurate indications of the
times at, or by which, such performance or results will have been
achieved. Such statements are subject to risks and uncertainties
that could cause actual performance or results to differ materially
from those expressed in these statements. In particular, the risks
and uncertainties include, among other things, the risk that we
continue to incur losses and might never achieve or maintain
profitability; the risk that we will need to raise additional
capital to fund our operations and such capital may not be
available to us; the risk that 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, in whole or in part; the
risk that pending orders may not convert to purchase orders, in
whole or in part; the risk that a loss of one or more of our major
customers could result in a material adverse effect on our
financial condition; the risk that a sale of a significant number
of shares of stock could depress the market price of our common
stock; the risk that negative publicity related to our business or
stock could result in a negative impact on our stock value and
profitability; the risk of potential losses related to any product
liability claims or contract disputes; the risk of loss related to
an inability to maintain an effective system of internal controls
or key personnel; the risks related to use of flammable fuels in
our products; 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 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
products, including GenDrive, ReliOn and GenKey systems; the
volatility of our stock price; 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 successfully expand internationally; our
ability to improve system reliability for our GenDrive, ReliOn and
GenKey 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; risks associated with
potential future acquisitions; and other risks and uncertainties
referenced in our public filings with the Securities and Exchange
Commission. For additional disclosure regarding these and other
risks faced by PLUG, see disclosures contained in PLUG's public
filings with the Securities and Exchange Commission (the "SEC")
including, the "Risk Factors" section of PLUG's Annual Report on
Form 10-K for the year ended December 31, 2015. You should consider
these factors in evaluating the forward-looking statements included
in this presentation and not place undue reliance on such
statements. The forward-looking statements are made as of the date
hereof, and PLUG undertakes no obligation to update such statements
as a result of new information.
Media Contact
Teal Vivacqua
518.738.0269
media@plugpower.com
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