Major new forktruck fuel cell deal

LATHAM, NY—Plug Power Inc has received a significant contract from a leading retailer to roll out its turnkey hydrogen fuel cell system solutions at six North America distribution centres over approximately two years. The first site is expected to be operational in the second quarter of 2014.

The multi-site GenKey deal includes over 1,500 GenDrive PEM fuel cell power units coupled with multi-year contracts for GenFuel hydrogen, GenFuel fueling infrastructure, and GenCare service.

“GenKey accelerates the transition to GenDrive fuel cells and enables rapid fleet conversion. This allows customers to swiftly realize the advantages of increased productivity and improved environmental benefits,” said Andy Marsh, CEO of Plug Power.

“This turnkey deal represents a significant milestone for Plug Power. In the coming year, we plan to grow not only in the material handling industry, but also expand into other fleet vehicle applications such as transport refrigeration units, ground support equipment and range extenders.”

Plug Power has over 4,500 GenDrive units deployed with leading North American material handling operators, such as Walmart, Procter & Gamble, Kroger, BMW and Mercedes Benz.