PLUG POWER INC. LATHAM, N.Y., Dec. 17, 2019 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a leading provider of hydrogen engines and fueling solutions enabling e-mobility, has been named to the FL100+ Top Software and Technology Providers list for 2019 by Food Logistics, the only publication exclusively dedicated to covering the movement of product through the global food supply chain. Marking its sixth consecutive year being named to the list, Plug Power has again displayed its expertise, providing superior, cutting-edge hydrogen and fuel cell solutions to global food supply chain customers including Walmart, Wegmans, Whole Foods, Carrefour and Kroger, innovating productivity and sustainability in grocery distribution.
Plug Power has unmatched accomplishments in the fuel cell engine space - having deployed more than 30,000 fuel cell units and enabling more than 23 million hydrogen fuelings to a set of global food supply chain customers. Plug Power’s unparalleled field data collection uses real time Internet of Things analysis techniques to capture and analyze performance statistics. Big data statistical analysis result in a live data field, predictive analytics and increased fleet runtime. Trillions of data points have been collected over the current 270 million hours of operation.
“Plug Power’s best-in-class technology platform continues to innovate to ensure that our valued customers can achieve their productivity and sustainability goals,” said Andy Marsh, CEO of Plug Power. “Hydrogen fuel cells are the zero emission technology of choice, and over the years Plug Power has proven we are the leading provider. We are honored that our work has been recognized, again, by Food Logistics in their FL100+ Top Software and Technology Providers list.”
John R. Yuva, editor for Food Logistics and its sister publication, Supply & Demand Chain Executive remarked, “The transparency and safety of the digital global food supply chain would not exist without innovations in software and technology. Our FL100+ recipients help drive supply chain compliance and regulatory changes that benefit everyone from the farmer to the food processor to the consumer.”
The annual FL100+ Top Software and Technology Providers serves as a resource guide of software and technology providers whose products and services are critical for companies in the global food and beverage supply chain. Companies on this year’s 2019 FL100+ Top Software and Technology Providers list will be profiled in the November/December 2019 issue of Food Logistics, as well as online at www.foodlogistics.com.
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.
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.
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.
Media Contact
Ian Martorana
The Bulleit Group
(415) 237-3681
plugpowerpr@bulleitgroup.com
SOURCE: PLUG POWER
