Plug Power Inc (NASDAQ:PLUG), an alternative energy technology provider announced that its hydrogen fuel cell solution obtained a spot in the 2014 Food Logistics FL100+ list.
Food Logistics’ 11th publication features innovative technology and software providers who contributed an impact to the global food and beverage supply chain.
Gates Capital Management's ECF Value Funds have a fantastic track record. The funds (full-name Excess Cash Flow Value Funds), which invest in an event-driven equity and credit strategy, have produced a 12.6% annualised return over the past 26 years. The funds added 7.7% overall in the second half of 2022, outperforming the 3.4% return for Read More
In a statement, Andy Marsh, CEO at Plug Power Inc (NASDAQ:PLUG) said, “2014 has been a breakout year for Plug Power as we’ve scaled our business and proven the productivity benefits and cost-effectiveness of our technology with major companies in North America.”
“This success will translate into global momentum in material handling and other niche markets. Plug Power is honored to be recognized for inclusion on the FL100+ list, and we congratulate others that have been named as well,” added Mr. Marsh.
Plug Power serves as the single vendor of GenKey solution
According to Plug Power Inc (NASDAQ:PLUG) it GenKey solution is commercializing the hydrogen and fuel cell market. It is also helping in the smooth transition of food and beverage companies’ material handling vehicles into hydrogen fuel.
Plug Power Inc (NASDAQ:PLUG) serves as the single vendor providing GenDrive fuel cell units, GenFuel hydrogen and fueling infrastructure, GenCare service and aftermarket support.
The company already closed more than a dozen GenKey deals since its launching in January this year.
Plug Power Inc (NASDAQ:PLUG) said customer trust is the foundation of GenKey solution. The Kroger Co. (NYSE:KR) and Wal-Mart Stores, Inc. (NYSE:WMT), both industry leaders are deeply invested in the Plug Power solution.
Wal-Mart Stores, Inc. (NYSE:WMT) initially signed an agreement with Plug Power Inc (NASDAQ:PLUG) to supply 1,738 GenDrive fuel cell units together with infrastructure and fueling services for six Wal-Mart centers over the next two years. The retail giant expanded its contract with Plug Power to install hydrogen refueling stations.
Plug Power signs $20 million multi-year contract
Plug Power Inc (NASDAQ:PLUG) recently entered a multi-year contract to provide ReliOn integrated fuel cell solution and GenFuel hydrogen services for a major telecommunications provider in North America.
ReliOn hydrogen fuel cell power, coupled with GenFuel hydrogen services, ensures customers’ systems remain up, even when the grid goes down,” said Mr. Marsh.