Plug Power Expands FM Logistic Deployment With New Purchase Order
(Thomson Reuters ONE) -
Expansion Marks Company's Continued Traction with European Material Handling
Customers
LATHAM, N.Y., July 12, 2016 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ:PLUG), a
leader in providing energy solutions that change the way the world moves, has
received a new purchase order from FM Logistic for use of Plug Power's GenDrive
product in its 90,000 square meter logistics facility in Neuville-aux-Bois,
France. Plug Power's world-class GenDrive fuel cell units will be deployed in FM
Logistic's Toyota Material Handling and Crown pallet jacks and reach trucks.
FM Logistic is a family-run business started in 1967 and is one of the
leading logistics providers in the European market. Today's logistics leaders
continuously demand high-quality solutions to become more competitive and to
continuously improve its processes and resources to meet and exceed customer's
needs.
Plug Power's GenDrive fuel cell solution displaces lead-acid batteries in
electric lift trucks and enables customers to increase the productivity of its
operations, while reducing operational costs. Plug Power has a suite of CE-
certified units available for European material handling customers, including
units to support pallet, reach, counterbalance trucks, and tow tractors,
enabling a full-fleet conversion. Important to FM Logistic, the GenDrive fuel
cell solution produces no harmful emissions and eliminates the costs associated
with handling and storing toxic materials. Plug Power's European GenCare team
will support the GenDrive-fleet.
"Plug Power continues to add new customer names to our resume and we look
forward to helping FM Logistic continue to grow its business through the use of
GenDrive fuel cells," said Andy Marsh, CEO of Plug Power. "Our expanded
partnership with FM Logistics further strengthens our value proposition that
GenDrive applies not just for our core large distribution center markets, but
also in extending to smaller-size distribution centers and to the European
logistics operations."
FM Logistic is an international logistics provider operating in 13 countries
including Russia, Brazil, China and India with approximately 60 percent of its
revenues coming from other countries than France.
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.
About FM Logistic Group
Since its creation in 1967, FM Logistic has become one of the international
leaders in the fields of warehousing, transport and packing. As an independent
Group, it is recognised as being expert in the consumer goods, distribution,
perfume/cosmetics, manufacturing and health markets. FM Logistic is present in
Asia, Eastern Europe, Central Europe, Western Europe and Latin America with
20 000 staff members and over a billion euros in revenue.
As well as internationalisation, FM Logistic's development is built on a strong
policy of innovation and respect for the environment. The Group pioneered the
"pooling" concept (shared transport and logistic resources), for which they
received numerous professional distinctions. As an eco-responsible company, FM
Logistic became a member of Green Freight Europe in 2014. The aim of this
programme is to improve the ecological performance of goods transportation in
Europe. In 2015, the Group created CityLogin, the green solution to logistic
requirements for the last mile of delivery in major European cities.
Further information: www.fmlogistic.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 2016 objectives, including goals relating to
revenue, sales, booking, gross margin and GenKey and GenFuel installations 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, 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, 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(at)plugpower.com
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#2027842]
Unternehmensinformation / Kurzprofil:
Datum: 12.07.2016 - 13:00 Uhr
Sprache: Deutsch
News-ID 482844
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