Prelodis Commissions Plug Power GenDrive Units at Site in France
(Thomson Reuters ONE) -
GenDrive Systems in Operation at Greenfield Logistics Facility for This New
European Customer
LATHAM, N.Y., Sept. 10, 2015 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ:PLUG),
a leader in providing clean, reliable energy solutions, has announced Prelodis
as its recent European GenDrive customer. Plug Power has fully shipped and
commissioned units for Prelodis to use at its new-construction (greenfield)
logistics facility located in Saint Cry en Val, a community close to Orléans in
north-central France. This center is operated by Prelocentre, a subsidiary of
Prelodis, and runs three shifts of operation.
The GenDrive units at Prelocentre have been operational since August 31, 2015 in
the 20,000 sq ft. retail food warehouse. Additionally, a 33,000 sq. ft.
extension has been planned and offers an opportunity for onsite expansion of the
GenDrive-powered lift truck fleet.
"The recently formed European division of Plug Power has already realized sales,
and has shipped and commissioned product for commercial customers with real
expansion opportunities," said Andy Marsh, CEO at Plug Power. "Just like in
North America, these customers value productivity, efficiency and sustainability
- all items our GenDrive value proposition brings to the table."
The sale of GenDrive fuel cells to Prelodis marks Plug Power's first greenfield
project in Europe, where emission standards are critical. GenDrive is powered by
hydrogen, generating only heat and water as byproducts. Even more so, Prelodis
has built its new facility with no battery room, showing its deep commitment to
hydrogen fuel cell power now and into the future.
As with the enormous value realized by Plug Power's current customer base,
Prelodis will also experience increased productivity from its electric lift
truck fleet. GenDrive enables the vehicles to maintain full power for a complete
shift, and the need to change batteries is eliminated. The GenDrive units are
refueled in just a few minutes, compared to the 15 minutes needed to change a
battery.
"Prelodis selected Plug Power's GenDrive fuel cell solution for its greenfield
site in France because the company appreciates the productivity-enhancing impact
the solution can offer and they fully anticipate the quick and positive return
on investment achieved through avoiding costs associated with batteries,"
continued Marsh. "Most importantly, Prelodis appreciates the sustainability
advantages to be realized by using hydrogen-powered fuel cells in the facility's
lift truck vehicles."
Plug Power currently offers a full suite of CE-certified GenDrive models that
meet the specifications and qualifications of European lift trucks. The Plug
Power European sales team is actively engaged with customers in areas with high
labor costs.
About Plug Power Inc.
The powerhouse in hydrogen fuel cell technology, Plug Power is revolutionizing
the industry with cost-effective solutions that increase productivity, lower
operating costs and reduce carbon footprint. Its signature solution, GenKey,
provides an all-inclusive package for customers, incorporating GenFuel hydrogen
and fueling infrastructure, GenCare aftermarket service and either GenDrive or
ReliOn fuel cell systems. GenDrive, a lead-acid battery replacement, is used in
electric lift trucks in high-throughput material handling applications. With
more than 8,500 GenDrive units deployed with material handling customers,
GenDrive has been proven reliable with more than 107 million hours of runtime.
Plug Power manufactures tomorrow's incumbent power solutions today, so customers
can POWERAhead. Additional information about the Plug Power brands is available
at www.plugpower.com.
Plug Power Inc. 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 forecast of financial performance, order
bookings, business model, strategy and growth opportunities. 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, ReliOn 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, ReliOn 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, 2014. 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.
CONTACT: Media and Investor Relations Contact:
Teal Vivacqua
Plug Power Inc.
Phone: 518.738.0269
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Plug Power Inc. via GlobeNewswire
[HUG#1950947]
Unternehmensinformation / Kurzprofil:
Datum: 10.09.2015 - 13:00 Uhr
Sprache: Deutsch
News-ID 419277
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