Plug Power Announces Additional Site for Procter & Gamble
Fuel Cells Now Powering Lift Trucks at Four P&G Manufacturing Facilities
LATHAM, N.Y., Nov. 29, 2012 -- Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean, reliable energy solutions, today announced that Procter & Gamble Co., (NYSE:PG) has selected its GenDrive® fuel cell products to power its electric lift truck fleet in its manufacturing facility located in Mehoopany, PA. This additional facility now brings to four the number of sites converting to GenDrive fuel cells. Over 340 units will now be deployed throughout Procter & Gamble's manufacturing infrastructure. Additional P&G sites using green fuel cell technology include facilities in California, North Carolina and Louisiana.
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Unlike the incumbent technology, GenDrive is powered by hydrogen, ensuring constant voltage to the truck and has a fueling cycle that takes just minutes. Lead-acid batteries need to be changed, charged, stored and maintained, a process that is timely and involves costly infrastructure. Since GenDrive is powered by hydrogen, an emerging clean-energy fuel, it is estimated that greenhouse gas emissions are reduced by more than 60 percent.
"Plug Power's GenDrive product is delivering increased fleet productivity, decreased facility operating costs and reduced greenhouse gas emissions at customer sites throughout North America," said Andy Marsh, CEO at Plug Power. "P&G is one of six Fortune 100 companies to convert multiple facilities to GenDrive fuel cells. With this fourth site conversion, P&G will lessen its environmental impact while realizing increased productivity, reduced operating costs and better predictability of its fleet performance."
About Plug Power Inc.
The architects of modern fuel cell technology, Plug Power is revolutionizing 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 Walmart, Sysco, P&G and Mercedes. With more than 3,000 GenDrive units deployed to material handling customers, accumulating over 8.5 million hours of runtime, Plug Power manufactures tomorrow's incumbent power solutions today. Additional information about Plug Power is available at www.plugpower.com.
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