Plug Power Sells 123 Hydrogen-based GenDrive Fuel Cells to Mercedes-Benz - Video Posted on InvestmentPitch.com
Aug 22, 2013 (Newsfile Corp via COMTEX) --
Plug Power (NASD: PLUG) announced that Mercedes-Benz US International has ordered 123 additional hydrogen-based GenDrive fuel cell units to power new forklift trucks for its material handling fleet at a logistics hub now under construction in Tuscaloosa, Alabama. InvestmentPitch.com has produced a "video news alert" based on this report. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Plug Power" in the search box.
If you cannot view the video above, please visit: http://www.investmentpitch.com/video/0_whbxroyd/Plug-Power-NASDAQ-PLUG-Mercedes-Benz-US-International-Announces-large-order-for-hydrogen-based-GenDrive-fuel-cell-units-
"The Mercedes-Benz plant in Tuscaloosa has experienced first-hand the value of GenDrive fuel cells to operate its forklift fleet," said Andy Marsh, CEO of Plug Power. "Success with their initial implementation has led Mercedes to broaden their commitment to sustainable energy by ordering even more GenDrive units to power the fleet in their new logistics center."
Last July, Mercedes purchased 72 GenDrive fuel cells for the lift truck fleet at its Tuscaloosa vehicle assembly plant. Earlier this year, construction began on a brand new $70 million, 900,000 square-foot state-of-the-art warehouse
Compact refueling stations will be available in several locations within the facility, with hydrogen provided by Air Products (NYSE: APD).
Plug Power's GenDrive fuel cell is designed as a drop-in replacement for lead-acid batteries. It is a more efficient, cost-effective method of providing clean energy for warehouse and distribution operations. Not only does fuel cell usage eliminate the possibility of lead and acid contamination in the workplace, it also eliminates the need for battery storage and re-charging rooms in the new logistics hub. Fuel cells take only minutes to fully re-fuel, whereas batteries can take hours to reach maximum charge. In addition, fuel cells keep lift trucks running at constant speed, unlike batteries, which cause vehicles to slow as their charge runs down.
Plug Power currently trades at $0.42 and with 80.8 million shares outstanding, is capitalized at $33.9 million.
For more information about Plug Power, please visit the company's website at www.plugpower.com. The company's investor relations is handled by The David James Agency. Please contact David Rodewald at 805-494-9508 or email email@example.com.
InvestmentPitch.com, a multimedia company that provides a combined solution for creating and hosting financial video content, and distributing it across multiple platforms to investors and financial professionals, specializes in producing three minute videos based on news releases and research reports.
CONTACT: InvestmentPitch.comBarry Morgan, CFObmorgan@investmentpitch.com
[ Back To Technology News's Homepage ]