Plug Power Exceeds 2016 GenDrive Deployment Goals
24 Gennaio 2017 - 1:00PM
Plug Power Inc. (NASDAQ:PLUG), a leader in providing energy
solutions that change the way the world moves, announced that it
has set a Company record for deploying its GenDrive fuel cell units
for the full year 2016.
For the full year 2016, Plug Power deployed
4,010 units, exceeding the Company’s previously disclosed annual
guidance of 3,800 to 4,000 units. Plug Power’s global set of
high-profile customers who received product in 2016 include
Carrefour, Walmart, BMW, and Home Depot.
“Plug Power’s record-setting deployments of
GenDrive fuel cell units in 2016 supports the importance of
hydrogen fuel cell technology and our suite of products to our
global materials handling customers,” said Andy Marsh, CEO of Plug
Power. “Our commitment to operational excellence and
industry-leading technology contributed to solid operational
performance in 2016. With a robust pipeline, including ongoing
discussions with customers on long-term, multi-site agreements, we
are confident that we can continue our success into 2017 and
beyond.”
Full fourth quarter and full year 2016 results
will be provided on Plug Power’s earnings call, expected to be held
in early March 2017. Full earnings call access details will be
announced in the coming weeks.
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 of 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.
Plug Power 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 expectations regarding
growth in Europe, revenue, growth with GenKey customers and its
project financing platform. 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 that,
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, GenSure 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, GenSure 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 (the “SEC”). For additional disclosure regarding these
and other risks faced by PLUG, see disclosures contained in PLUG's
public filings with 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.
Plug Power Media Contact
Teal Vivacqua
518.738.0269
media@plugpower.com
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