Plug Power (NASDAQ:PLUG) Sells 123 Hydrogen-based GenDrive Fuel Cells to Mercedes-Benz - Video Posted on InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, August 22, 2013 - Plug Power (NASDAQ:PLUG announced
that Mercedes-Benz US International has ordered 123 additional hydrogen-based
GenDrive fuel cell units to power new forklift trucks for its material handling
fleet at a logistics hub now under construction in Tuscaloosa, Alabama.
InvestmentPitch.com has produced a "video news alert" based on this report. If
this link is not enabled, please visit www.InvestmentPitch.com and enter "Plug
Power" in the search box.
"The Mercedes-Benz plant in Tuscaloosa has experienced first-hand the value of
GenDrive fuel cells to operate its forklift fleet," said Andy Marsh, CEO of Plug
Power. "Success with their initial implementation has led Mercedes to broaden
their commitment to sustainable energy by ordering even more GenDrive units to
power the fleet in their new logistics center."
Last July, Mercedes purchased 72 GenDrive fuel cells for the lift truck fleet at
its Tuscaloosa vehicle assembly plant. Earlier this year, construction began on
a brand new $70 million, 900,000 square-foot state-of-the-art warehouse
Compact refueling stations will be available in several locations within the
facility, with hydrogen provided by Air Products (NYSE:APD).
Plug Power's GenDrive fuel cell is designed as a drop-in replacement for lead-
acid batteries. It is a more efficient, cost-effective method of providing clean
energy for warehouse and distribution operations. Not only does fuel cell usage
eliminate the possibility of lead and acid contamination in the workplace, it
also eliminates the need for battery storage and re-charging rooms in the new
logistics hub. Fuel cells take only minutes to fully re-fuel, whereas batteries
can take hours to reach maximum charge. In addition, fuel cells keep lift trucks
running at constant speed, unlike batteries, which cause vehicles to slow as
their charge runs down.
Plug Power currently trades at $0.42 and with 80.8 million shares outstanding,
is capitalized at $33.9 million.
For more information about Plug Power, please visit the company's website at
www.plugpower.com. The company's investor relations is handled by The David
James Agency. Please contact David Rodewald at 805-494-9508 or email
plugpower(at)davidjamesagency.com.
About InvestmentPitch
InvestmentPitch.com, a multimedia company that provides a combined solution for
creating and hosting financial video content, and distributing it across
multiple platforms to investors and financial professionals, specializes in
producing three minute videos based on news releases and research reports.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
bmorgan(at)investmentpitch.com
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Source: InvestmentPitch via Thomson Reuters ONE
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Datum: 23.08.2013 - 01:21 Uhr
Sprache: Deutsch
News-ID 290354
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