Plug Power to Begin Production of Next Generation Class 1 Material Handling Equipment
19 Febbraio 2019 - 1:00PM
Plug Power to Begin Production of Next Generation Class 1 Material
Handling Equipment
Plug Power Inc. (NASDAQ:PLUG), a leading provider of energy
solutions that change the way the world moves, today announced that
it has begun standard production of the family of next generation
class 1 GenDrive systems for industrial lift trucks. These new
units are designed with Plug Power’s proven ProGen hydrogen fuel
cell engine technology which delivers increased efficiency and
higher reliability. The new units include several significant
enhancements such as larger fuel tanks for increased runtime
(approximately 10%) and wireless communication capabilities for
operations data and effective fleet management. With a new design
that is focused on ease of service for both field technicians and
customers, Plug Power also improved the product serviceability,
reducing the time and effort required to work on the units.
The first customer orders are expected to ship in March 2019.
Plug Power will deploy this premium product in manufacturing
applications such as high-volume automotive assembly facilities,
empowering the world’s leading companies to drive efficiency and
sustainability with proven hydrogen-powered logistics and material
handling vehicles. Major automotive manufacturers including BMW,
Mercedes and Toyota are among Plug Power’s impressive client
roster.
“According to Moody’s, global light vehicle sales are projected
to grow in 2019, which means our automotive manufacturing customers
are going to need dependable equipment that will enable them to
keep up with the demands of a continuously growing industry,” said
Andy Marsh, CEO, Plug Power. “We’re proud to be working with these
leading companies to revolutionize one of the world’s most
influential industries as we move together towards a clean and
sustainable future of mobility.”
In addition to today’s announcement, Plug Power will be
showcasing its sustainable, zero emission material handling and
logistics technology at this week’s LogiMAT conference in Germany.
Plug Power representatives will be stationed at Hall 2 Stand A05
with Toyota and available to speak should you be at the show and
want to learn more. LogiMAT provides the trade audience with a
comprehensive review of all the main themes in the sector, from
procurement to production and deliveries. International exhibitors
showcase innovative technologies, products, systems, and solutions
for rationalization, process optimization, and cost-reduction of
in-company logistics processes.
What: |
|
LogiMAT 2019 |
Date: |
|
February 19 - 21, 2019 |
Location: |
|
Stuttgart Trade Fair
Centre |
|
|
Hall 2 Stand A05 |
|
|
Messepiazza 1, 70629
Stuttgart, Germany |
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.
Safe Harbor Statement
This 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 revenue, growth with GenKey customers. 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, 2017. You should consider these factors in evaluating the
forward-looking statements included in this communication 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.
SOURCE: PLUG POWER
Media ContactKate GundryPluck
617.797.5174plugpower@pluckpr.com
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