Plug Power now has over 2,200 GenDrive fuel cells deployed at customer sites including Walmart, P&G and Coca-Cola
LATHAM, NY – June 4, 2012 – Plug Power Inc. (NASDAQ: PLUG), a leader in providing clean, reliable energy solutions, today received the Canadian Hydrogen and Fuel Cell Association (CHFCA) commercialization award at the 2012 World Hydrogen Energy Conference, being held this week at the Toronto Centre Sheraton in Toronto, Ontario, Canada. The CHFCA Commercialization Award recognizes achievements by member organizations who have achieved success in commercialization and manufacturing of hydrogen and/or fuel cell products.
Plug Power's transition from a development stage enterprise to a commercial operation will specifically be highlighted during the Achievement and Innovation Awards ceremony. In 2011, Plug Power received orders for 2,503 GenDrive® units, almost a five fold increase over the 543 GenDrive unit orders received in 2010. The Company now has over 2,200 GenDrive fuel cells deployed at customer sites including Walmart, P&G and Coca-Cola.
Plug Power recently announced the formation of HyPulsion, a joint venture with an Air Liquide subsidiary. HyPulsion was formed to develop the European market for fuel cell-powered forklift trucks. The available business opportunity in Europe exceeds that in North America.
"Plug Power is leading the way for commercial fuel cell solutions with its GenDrive product offering," said Andy Marsh, CEO at Plug Power. "GenDrive is deployed at over 25 customer sites across North America and the momentum continues to build here and in Europe."
Other companies being recognized at the World Hydrogen Energy Conference include:
· Walmart Canada—Corporate Leadership in Adopting Hydrogen and Fuel Cells Award
· Sustainable Development Technology Canada (SDTC)—Public/Government Early Adoption/Funding Supporter Innovator Award
· Hydrogen Research Institute (HRI)—The CHFCA Academic Award of Excellence
In addition, Mr. Alexander K. Stuart, Retired Founder, Chairman & CEO of Stuart Energy will be honored with the CHFCA Lifetime Achievement Award for his lifetime dedication to hydrogen and fuel cell technologies.
About Plug Power Inc.
The architects of modern fuel cell technology, Plug Power revolutionized the industry with cost-effective power solutions that increase productivity, lower operating costs and reduce carbon footprints. Long-standing relationships with industry leaders forged the path for Plug Power's key accounts, including Wegmans, Whole Foods, and FedEx Freight. With more than 2,200 GenDrive units shipped to material handling customers, accumulating over 6.5 million hours of runtime, Plug Power manufactures tomorrow's incumbent power solutions today. Additional information about Plug Power is available at www.plugpower.com.