LATHAM, N.Y., Sept. 13, 2016 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG ), a leader in providing energy solutions that change the way the world moves, today opens its exhibit at IMHX 2016 where its productivity-enhancing GenKey hydrogen and fuel cell solution will be showcased to logistics and supply chain professionals. IMHX is taking place at the NEC, Birmingham, UK from September 13-16.
The company opens today’s exhibit in booth 8A46, displaying a GenDrive fuel cell and GenFuel hydrogen fuel dispenser. Plug Power’s GenKey solution is a great fit for IMHX, a conference that attracts visitors from industries including automotive, food and drink, manufacturing, retail and transport; and companies including IKEA, Toys R Us, and Jaguar Land Rover.
The European GenKey package, remaining similar to that sold in North America, is comprised of GenDrive fuel cells, GenFuel hydrogen infrastructure and GenCare customer support. GenKey enables a significant boost in productivity as well as the ability to convert space wasted on battery maintenance and storage to usable warehouse space.
Plug Power has validated the business for industrial mobility fuel cell applications in Europe in 2016 as many firms are seeking new technologies that can deliver higher productivity and better environmental sustainability. In just one year, the company has secured three major customers and installed its first European GenFuel hydrogen dispensing system. Most recently, Plug Power announced The Carrefour Group as a new retail customer in France, where Europe’s leading retailer will deploy more than 150 GenDrive units.
"We are determined to continue this momentum,” said Andy Marsh, CEO of Plug Power. “The IMHX event enables us to showcase our value to a very focused segment of industrial equipment users, who are looking for innovative and sustainable ways to improve their business.”
Today, Plug Power has more than 11,000 GenDrive units deployed worldwide. To register for IMHX, please visit https://registration.n200.com/survey/0c8f2rlq...IMHX160627
Select European projects have received funding from the European Union´s 7 th Framework Programme (FP7/2007-2013) for the Fuel Cells and Hydrogen Joint Undertaking Technology Initiative
About Plug Power Inc. The architects of modern hydrogen and fuel cell technology, Plug Power has revolutionized the industry with its simple GenKey solution, elements of which are designed to increase productivity, lower operating costs and reduce carbon footprints in a reliable, cost-effective way. Plug Power’s GenKey solution couples together all the necessary elements to power, fuel and service a customer. Plug Power is the partner that customers trust to take their businesses into the future. For more information about Plug Power, visit www.plugpower.com .
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 2016 objectives, including goals relating to revenue, sales, booking, gross and GenFuel installations, and the GenFund Power-Purchase Agreement program. 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 at, 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. For additional disclosure regarding these and other risks faced by PLUG, see disclosures contained in PLUG's public filings with the Securities and Exchange Commission (the "SEC") including, the "Risk Factors" section of PLUG's Annual Report on Form 10-K for the year ended December 31, 2015. 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 and Investor Relations Contact: Teal Vivacqua Plug Power Inc. Phone: 518.738.0269
