Plug Power Increases Fuel Storage, Runtime By 56% in New Fuel Cell Product for Industrial Mobility Market
03 Aprile 2018 - 1:00PM
Plug Power Inc. (NASDAQ:PLUG), a leader in providing energy
solutions that change the way the world moves, is pleased to
announce the launch of its new GenDrive 2440-36R fuel cell system
for Class-2 electric forklifts. This new GenDrive model stores more
fuel on-board than earlier models, increasing run-time by 56% and
reducing a customer’s overall fueling time by more than 30 percent.
The first customer orders for these GenDrive units are scheduled to
ship at the beginning of the third quarter of 2018.
GenDrive fuel cells provide a more efficient value proposition
for electric lift trucks than batteries which need to be replaced
and recharged throughout the day. This new GenDrive Class-2
model continues to expand the value proposition by storing more
energy on-board than traditional lead acid battery solutions for
Class 2 vehicles, eliminating battery changing, and having an
average refueling time of less than 3 minutes. .
The expansion of Class-2 runtime is a significant value adder
for grocery and retail customers. In a three-shift facility,
instead of refueling each shift, lift trucks using the GenDrive
2440-36R eliminate a complete fueling cycle, and now fuel only
twice a day. For a typical customer with more than 90 Class 2
vehicles, this translates to a projected productivity savings in
excess of $400K over 5 years.
Design collaboration with North American lift
truck OEMs has enabled Plug Power to increase the system’s hydrogen
tank size to extend system runtime. A portion of the ballast weight
used for truck counterbalance has been transferred to the lift
truck via truck design modifications. This allows more space to
devote to hydrogen fuel storage in the GenDrive design.
“The electric lift truck market is truly
reacting to the impact that hydrogen and fuel cells are having on
the longterm material handling solutions for their customers,” said
Andy Marsh, CEO for Plug Power. “We see this innovation as a
significant sign of further market adoption.”
Plug Power is driving the electrification of mobility today,
with over 20,000 deployed fuel cells and more than 150 million run
hours in mobility applications. To date, the company has completed
more than 60 of its GenFuel line of scalable hydrogen fueling
stations, each with 4 to 6 hydrogen dispensers. GenFuel customers
have performed 11 million hydrogen fills of electric vehicles,
dispensing over 6.7 million kilograms of hydrogen.
About Plug Power
Inc. The architect of modern hydrogen
and fuel cell technology, Plug Power is the innovator that has
taken hydrogen and fuel cell technology from concept to
commercialization. Plug Power has revolutionized the material
handling industry with its full-service GenKey solution, which is
designed to increase productivity, lower operating costs and reduce
carbon footprints in a reliable, cost-effective way. The Company’s
GenKey solution couples together all the necessary elements to
power, fuel and serve a customer. With proven hydrogen and fuel
cell products, Plug Power replaces lead acid batteries to power
electric industrial vehicles, such as the lift trucks customers use
in their distribution centers.
Extending its reach into the on-road electric vehicle market,
Plug Power’s ProGen platform of modular fuel cell engines empowers
OEMs and system integrators to rapidly adopt hydrogen fuel cell
technology. ProGen engines are proven today, with thousands in
service, supporting some of the most rugged operations in the
world. Plug Power is the partner that customers trust to take their
businesses into the future. Learn more at
www.plugpower.com.
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but not limited to statements about PLUG's expectations regarding
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risk that pending orders may not convert to purchase orders, in
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products, including GenDrive, GenSure and GenKey systems; the
volatility of our stock price; our ability to establish and
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ability to improve system reliability for our GenDrive, GenSure and
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competition from other traditional and alternative energy
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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, 2017. 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 ContactTeal
Vivacquamedia@plugpower.com
SOURCE: PLUG POWER
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