Scottsdale, Arizona 12/13/2008 4:01:52 AM
News / Finance

Air Products Inc. (APD) Collaborates with Plug Power (PLUG) to Provide Hydrogen Technology for Material Handling Equipment

www.QualityStocks.Net would like to highlight Air Products Inc. (NYSE: APD). The company serves customers in industrial, energy, technology and healthcare markets worldwide with a unique portfolio of atmospheric gases, process and specialty gases, performance materials, and equipment and services. Founded in 1940, Air Products has built leading positions in key growth markets such as semiconductor materials, refinery hydrogen, home healthcare services, natural gas liquefaction, and advanced coatings and adhesives.

 

In the company’s news yesterday,

 

Air Products Inc. announced it will install indoor hydrogen fueling infrastructure to more than 200 fuel cell-powered lift trucks for Central Grocers’ distribution center in Illinois, which is expected to commence operations by the first quarter of 2009.

 

“The operational and environmental benefits of hydrogen powered materials handling management systems will be very evident from day one,” Tom Joseph, business development manager for Hydrogen Energy Systems at Air Products stated in the press release. “Look no further than Joliet, Illinois, for a true indication of the positive results of the hydrogen economy that many people have talked about. We are pleased to be collaborating with Plug Power at this site, and congratulate Central Grocers for its leadership in seeking alternative energy solutions.”

 

Air Products’ indoor hydrogen fueling dispenser and related infrastructure will power a fleet of lift trucks equipped with Plug Power’s (Nasdaq: PLUG) hydrogen fuel cell power packs. The system includes outdoor liquid hydrogen storage and compression, as well as indoor fueling dispensers, which allow for the power units to be refilled in less than 2 minutes, eliminating the hassle of multiple lead acid batteries and associated maintenance.

 

According to Andy Marsh, CEO of Plug Power, Central Grocers is taking unmatched steps toward taking advantage of GenDrive solutions.

 

“Central Grocers represents the first greenfield site to incorporate our GenDrive solution into its operations. Greenfield sites offer the potential for the greatest financial and operational benefits to our customers by eliminating the need for capital investments in batteries and the associated chargers, storage and changing systems,” Marsh stated. “This purchase also helps Central Grocers green their supply chain as well as their business operations.”

 

Hydrogen powered material handling equipment requires minimal maintenance and refueling. The fuel cells offer consistent power strength without having to be recharged, and are environmentally friendly, eliminating lead-acid battery storage and disposal.

 

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