QualityStocks would like to highlight Plug Power (
NASDAQ: PLUG), a leader in providing reliable clean energy solutions. The company has revolutionized the material handling industry with cost-effective power solutions that increase productivity, lower operating costs, and reduce carbon footprints. Plug Power’s GenDrive® fuel cell is a superior alternative to lead-acid batteries for electric lift trucks in the $20 billion global material handling market. Its superior product led directly to long-standing relationships with major firms around the globe, including Walmart, Sysco, Procter & Gamble, and Mercedes-Benz.
In the company’s news,
Plug Power announced that Mercedes-Benz has ordered an additional 123 hydrogen-based GenDrive fuel cell units to power new forklift trucks for its material handling fleet at a logistics hub being constructed in Tuscaloosa, Alabama. Mercedes had already purchased 72 of the GenDrive fuel cells last July for its vehicle assembly plant in Tuscaloosa.
Plug Power’s GenDrive fuel cell is designed as a simple drop-in replacement for lead-acid batteries. It is a more efficient and cost effective method of providing clean energy for warehouse and distribution operations. It eliminates the need for battery storage and re-charging rooms in a warehouse while also removing the potential of lead and acid contamination in these type of work environments.
There will be several compact refueling stations located in the soon-to-be completed Mercedes-Benz warehouse facility. The fuel cells take only a few minutes to be fully recharged with hydrogen, provided by Air Products. This is more much efficient than the hours it takes to re-charge a lead-acid battery. Fuel cells are also more efficient in that they keep lift trucks running at a steady speed, unlike batteries, which have vehicles slow down significantly as they lose their charge.
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
