LATHAM, New York—Plug Power Inc, a provider of clean energy solutions, announced it has closed out the third quarter of 2014 with 857 GenDrive units shipped to material handling customers in North America. This equates to a 450 percent increase compared to the third quarter of 2013, when 155 GenDrive units were shipped.
During the quarter, GenDrive shipments went to customers including BMW, Walmart (USA), Walmart (Canada), Procter & Gamble, Mercedes-Benz, Kroger, Stihl, UNFI and Volkswagen. In addition to the GenDrive units, the company is also building and deploying GenFuel systems at customer sites including Volkswagen, Kroger, FedEx and Walmart.
Plug Power attributes its rapid growth in 2014 to the successful launch of its GenKey solution at the start of this year. GenKey is Plug Power’s all-inclusive platform that offers GenDrive fuel cell units, GenFuel hydrogen fueling infrastructure, and GenCare service and support.
The continued ramp-up in manufacturing and shipping demonstrates how Plug Power has scaled its business to maintain steady inventory levels that permit product delivery in a reliable, timely manner to material handling customers. The company expects to ship between 900 and 1,000 units in the fourth quarter of 2014.