PLUG POWER RECEIVES MILESTONE ORDER FROM WALMART FOR MULTI-SITE HYDROGEN FUEL CELL DEPLOYMENT
LATHAM, NY – February 26, 2014 – Plug Power Inc. (NASDAQ: PLUG) today confirmsthe company has received a multi-site GenKey purchase order from Walmart Stores,Inc. to roll out its hydrogen fuel cell solution to power electric lift truck fleetsat six North America distribution centers. The first of six sites will bedeployed by the second quarter of 2014.
Further purchase order terms for the multi-site order initiallyannounced on February 10, 2014 include:
· Total of 1,738GenDrive fuel cell units, to be deployedover two years
· GenFuel infrastructure constructionand hydrogen fuel supply
· Six-year GenCare service contract for each site
GenDrive hydrogen fuel cells have universal appeal in material handlingapplications because they can contribute to an increase in productivity.Workers spend less time fueling a forklift truck as compared to changing alead-acid battery, resulting in less downtime. GenDrive fuel cells also have no exhaust emissions so thatthey can be a component in implementing corporate environmental initiatives.
“We are pleased with the performance of the hydrogen fuel cells that wehave been operating and are excited to expand our program with Plug Power,”said Jeff Smith, Senior Director for Walmart Logistics.
“This agreement is a tripling of Walmart’s commitment toPlug Power’s fuel cells, and is encouraging because it comes from a companywith so much experience using our product.” said Andy Marsh, CEO at PlugPower. “This is a milestone for Plug Power andits ongoing business relationship with Walmart. Plug Power’s GenDrive productshave a positive impact on the productivity of our customer’s operations. Wehave proven to be a trusted partner and are confident that GenKey will enhanceWalmart’s material handling operations.”
Walmart currently has 535 GenDrive fuel cell units inoperation at sustainable refrigerated distribution centers, including two sitesin Canada and one in the United States. Specifically, Walmart’s Balzac, Canada,fresh food distribution center is the most energy-efficient distribution facilityof its kind in North America. Additionally, the Walmart Washington Courthousedistribution center in Ohio was the launching point of the GenFuel business.
AboutPlug Power Inc.
Thearchitects of modern fuel cell technology, Plug Power is revolutionizing theindustry with cost-effective power solutions that increase productivity, loweroperating costs and reduce carbon footprints. Long-standing relationships withindustry leaders, including Walmart, Sysco, Procter & Gamble, and MercedesBenz, forged the path for Plug Power’s innovative GenKey hydrogen and fuel cellsystem solutions. With more than 4,500 GenDrive units deployed to materialhandling customers, accumulating over 20 million hours of runtime, Plug Powermanufactures tomorrow’s incumbent power solutions today. Additional informationabout Plug Power is available at www.plugpower.com.
LATHAM, NY – February 26, 2014 – Plug Power Inc. (NASDAQ: PLUG) today confirmsthe company has received a multi-site GenKey purchase order from Walmart Stores,Inc. to roll out its hydrogen fuel cell solution to power electric lift truck fleetsat six North America distribution centers. The first of six sites will bedeployed by the second quarter of 2014.
Further purchase order terms for the multi-site order initiallyannounced on February 10, 2014 include:
· Total of 1,738GenDrive fuel cell units, to be deployedover two years
· GenFuel infrastructure constructionand hydrogen fuel supply
· Six-year GenCare service contract for each site
GenDrive hydrogen fuel cells have universal appeal in material handlingapplications because they can contribute to an increase in productivity.Workers spend less time fueling a forklift truck as compared to changing alead-acid battery, resulting in less downtime. GenDrive fuel cells also have no exhaust emissions so thatthey can be a component in implementing corporate environmental initiatives.
“We are pleased with the performance of the hydrogen fuel cells that wehave been operating and are excited to expand our program with Plug Power,”said Jeff Smith, Senior Director for Walmart Logistics.
“This agreement is a tripling of Walmart’s commitment toPlug Power’s fuel cells, and is encouraging because it comes from a companywith so much experience using our product.” said Andy Marsh, CEO at PlugPower. “This is a milestone for Plug Power andits ongoing business relationship with Walmart. Plug Power’s GenDrive productshave a positive impact on the productivity of our customer’s operations. Wehave proven to be a trusted partner and are confident that GenKey will enhanceWalmart’s material handling operations.”
Walmart currently has 535 GenDrive fuel cell units inoperation at sustainable refrigerated distribution centers, including two sitesin Canada and one in the United States. Specifically, Walmart’s Balzac, Canada,fresh food distribution center is the most energy-efficient distribution facilityof its kind in North America. Additionally, the Walmart Washington Courthousedistribution center in Ohio was the launching point of the GenFuel business.
AboutPlug Power Inc.
Thearchitects of modern fuel cell technology, Plug Power is revolutionizing theindustry with cost-effective power solutions that increase productivity, loweroperating costs and reduce carbon footprints. Long-standing relationships withindustry leaders, including Walmart, Sysco, Procter & Gamble, and MercedesBenz, forged the path for Plug Power’s innovative GenKey hydrogen and fuel cellsystem solutions. With more than 4,500 GenDrive units deployed to materialhandling customers, accumulating over 20 million hours of runtime, Plug Powermanufactures tomorrow’s incumbent power solutions today. Additional informationabout Plug Power is available at www.plugpower.com.
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