Plug Power to Participate in Showcase Tour of First European Forklift Fleet 100 Percent Powered by Hydrogen Fuel Cells
06 Juni 2016 - 1:00PM
Plug Power Inc. (NASDAQ:PLUG), a leader in providing energy
solutions that change the way the world moves, announced today that
it will participate in a tour of Europe’s first warehouse with a
fleet of forklift trucks 100 percent powered by Plug Power’s
GenDrive hydrogen fuel cells. The Prelocentre site is the first
logistics center in Europe deploying only fuel cell-powered
material handling vehicles. It will operate 40 trucks by the end of
2016 and 60 in 2017.
The tour, which is being organized by
HyLIFT-EUROPE, in cooperation with Prelocentre and Air Liquide, is
designed to let members of the logistics industry and local
officials see the productivity and sustainability impact that
hydrogen-powered fuel cells have on a distribution center. It will
take place on June 7, 2016, at the Prelocentre distribution center
in Saint-Cyr-en-Val, France.
The event will feature a site tour focused on
the GenDrive fuel cell-powered fleet being refueled by an indoor
hydrogen dispensing system. Plug Power’s GenDrive fuel cells
are a drop-in replacement for lead-acid batteries in electric
material handling vehicles. Fleet productivity is positively
impacted as GenDrive fuel cells provide continuous power to the
truck at all times, even in freezer environments as low as negative
30 degrees Celsius (negative 22 degrees Fahrenheit). Battery
degradation and untimely trips to the battery room are completely
eliminated.
Attendees will hear remarks from Prelocentre
Director, Philippe Giroux and General Manager for Hypulsion-Plug
Power Europe, Jose Luis Crespo. Additionally, statements will be
made by local authorities and executives from the Fuel Cell and
Hydrogen Joint Undertaking (FCHJU), Air Liquide and Colruyt, a
grocery store chain that has also invested in Plug Power’s GenDrive
hydrogen fuel cell solution for its European distribution
center.
“This event marks an important milestone for
hydrogen fuel cells and sustainable facilities in Europe and it’s
validating to see our GenDrive units powering the entire fleet,”
said Andy Marsh, CEO of Plug Power. “This successful implementation
at the Prelocentre site will inspire other companies in the region
to recognize the financial and environmental advantages of hydrogen
fuel cells and help Plug Power to further expand its presence in
Europe.”
HyLIFT-EUROPE and HyLIFT-DEMO are projects
undertaken by HyLIFT and co-financed by FCHJU. The two
organizations have supported the development and demonstration of
European-manufactured fuel-cell powered material handling vehicles
and hydrogen recharging infrastructure since 2009.
For more information on Plug Power’s GenDrive
fuel cells, visit
http://www.plugpower.com/products/gendrive/.
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.
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 and GenFuel installations, and the GenFund
Power-Purchase Agreement program. 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
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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
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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.
Plug Power Media Contact
Teal Vivacqua
518.738.0269
media@plugpower.com
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