PLUG POWER INC. LATHAM, N.Y., June 18, 2019 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ:PLUG), a leading provider of hydrogen engines and fueling solutions enabling e-mobility, has again been named to the Top Green Providers list for 2019 by Food Logistics, the only publication exclusively dedicated to covering the movement of product through the global food supply chain.
Food Logistics’ annual Top Green Providers recognizes companies whose products, services, or exemplary leadership are enhancing sustainability within the food and beverage industry. Each year, the criteria for earning a spot on the list become more stringent for applicants. For example, the editorial staff evaluates a company’s participation in such programs as the EPA’s SmartWay and other recognized sustainability programs; facilities that are LEED-certified, and/or feature solar panels, LED lighting, and other energy saving installations and retrofits that produce measurable reductions in GHG emissions, to name a few.
2019 marks the third year Plug Power has been named on the Top Green Providers list. Through its GenDrive fuel cell product line and GenFuel hydrogen fueling stations, Plug Power has demonstrated a long-standing commitment to offering material handing fleet customers sustainable zero emission solutions to power their material handling equipment. Food and beverage companies like Walmart, Kroger, Supervalu, and Carrefour in Europe have made the decision to utilize hydrogen fuel cells to power their forklift truck fleets, dramatically improving their carbon footprint.
Plug Power entered the on-road vehicle market with its ProGen fuel cell engine product suite, expanding its product breadth and application reach within the logistics supply chain. Recently announced and marking the first commercial scale deployment of fuel cells for on-road logistics, Plug Power is partnering with electric vehicle manufacturer StreetScooter with an initial delivery of 100 hydrogen fuel cell-powered delivery trucks. Additionally, Plug Power has announced the acquisition of EnergyOr. Plug Power will use EnergyOr’s complementary lightweight compact fuel cell systems to power growing logistics applications utilizing robotics, autonomous vehicles, and UAVs.
"Our Top Green Providers demonstrate leadership in sustainability throughout the global food supply chain, from better management of natural resources to technology applications and operational improvements that reduce food waste from the farm to the retailer to the end consumer," notes Lara L. Sowinski, editorial director. "Environmental stewardship is a defining feature for these companies, as is their determination to continually raise the sustainability bar year after year."
“Plug Power’s hydrogen fuel cell solutions continue to prove the positive influence sustainable energy has on performance, revenue, and profitability for business growth,” said Andy Marsh, CEO of Plug Power. “We have proven this in the warehouse and in manufacturing, having deployed more than 25,000 fuel cell units to date. Now, we’re transforming e-mobility applications for delivery logistics on the road and in the air. We’re honored to be named to the Top Green Providers list for the third year in a row as we continue build and expand our portfolio of advanced technology, zero emission commercial solutions that enable customers to move product around the world in the cleanest way possible.”
About Food Logistics
Food Logistics is published by AC Business Media, a business-to-business media company that provides targeted content and comprehensive, integrated advertising and promotion opportunities for some of the world’s most recognized B2B brands. Its diverse portfolio serves the construction, logistics, supply chain and other industries with print, digital and custom products, events and social media.
About Plug Power Inc.
The architect of modern hydrogen and fuel cell technology, Plug Power is the innovator that has taken hydrogen and fuel cell technology from concept to commercialization. Plug Power has revolutionized the material handling industry with its full-service GenKey solution, which is designed to increase productivity, lower operating costs and reduce carbon footprints in a reliable, cost-effective way. The Company’s GenKey solution couples together all the necessary elements to power, fuel and serve a customer. With proven hydrogen and fuel cell products, Plug Power replaces lead acid batteries to power electric industrial vehicles, such as the lift trucks customers use in their distribution centers.
Extending its reach into the on-road electric vehicle market, Plug Power’s ProGen platform of modular fuel cell engines empowers OEMs and system integrators to rapidly adopt hydrogen fuel cell technology. ProGen engines are proven today, with thousands in service, supporting some of the most rugged operations in the world. Plug Power is the partner that customers trust to take their businesses into the future. Learn more at www.plugpower.com.
Plug Power 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 expectations regarding growth in Europe, revenue, growth with GenKey customers and its project financing platform. 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 that, 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 (the “SEC”). For additional disclosure regarding these and other risks faced by PLUG, see disclosures contained in PLUG's public filings with the SEC including, the "Risk Factors" section of PLUG's Annual Report on Form 10-K for the year ended December 31, 2018. 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.
SOURCE: PLUG POWER
Media Contact
Kate Gundry
Pluck
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