Plug Power Showcases Industrial Mobility Fuel Cell Solution at UK’s Largest Logistics Industry Event
13 September 2016 - 1:00PM
Plug Power Inc. (NASDAQ:PLUG), a leader in providing energy
solutions that change the way the world moves, today opens its
exhibit at IMHX 2016 where its productivity-enhancing GenKey
hydrogen and fuel cell solution will be showcased to logistics and
supply chain professionals. IMHX is taking place at the NEC,
Birmingham, UK from September 13-16.
The company opens today’s exhibit in booth 8A46, displaying a
GenDrive fuel cell and GenFuel hydrogen fuel dispenser. Plug
Power’s GenKey solution is a great fit for IMHX, a conference that
attracts visitors from industries including automotive, food and
drink, manufacturing, retail and transport; and companies including
IKEA, Toys R Us, and Jaguar Land Rover.
The European GenKey package, remaining similar to that sold in
North America, is comprised of GenDrive fuel cells, GenFuel
hydrogen infrastructure and GenCare customer support. GenKey
enables a significant boost in productivity as well as the ability
to convert space wasted on battery maintenance and storage to
usable warehouse space.
Plug Power has validated the business for industrial mobility
fuel cell applications in Europe in 2016 as many firms are seeking
new technologies that can deliver higher productivity and better
environmental sustainability. In just one year, the company has
secured three major customers and installed its first European
GenFuel hydrogen dispensing system. Most recently, Plug Power
announced The Carrefour Group as a new retail customer in France,
where Europe’s leading retailer will deploy more than 150 GenDrive
units.
"We are determined to continue this momentum,” said Andy Marsh,
CEO of Plug Power. “The IMHX event enables us to showcase our value
to a very focused segment of industrial equipment users, who are
looking for innovative and sustainable ways to improve their
business.”
Today, Plug Power has more than 11,000 GenDrive units deployed
worldwide. To register for IMHX, please visit
https://registration.n200.com/survey/0c8f2rlqqg7ke?actioncode=IMHX160627
Select European projects have received funding from the European
Union´s 7th Framework Programme (FP7/2007-2013) for the Fuel Cells
and Hydrogen Joint Undertaking Technology Initiative
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
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. 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 and Investor Relations Contact:
Teal Vivacqua
Plug Power Inc.
Phone: 518.738.0269
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