Plug Power and Charlatte America Provide New York’s Albany International Airport with its first FedEx Airport Ground Suppor...
22 April 2019 - 9:00PM
Plug Power Inc. (NASDAQ: PLUG), a leading provider of hydrogen
engines and fueling solutions enabling e-mobility, and Charlatte
America, a member of the Fayat Group, the leading manufacturer of
battery powered electric airport ground support equipment (GSE)
throughout Europe and the United States, have delivered fuel
cell-powered electric cargo tuggers for use by FedEx at the Albany
International Airport.
The ground support vehicles were built by Charlatte America and
operate using Plug Power’s zero emission ProGen hydrogen engines.
The ProGen powered tuggers are in operation at the Albany
International Airport transporting FedEx packages from the sorting
facility to delivery airplanes. Performance and reliability data
has been collected during cold winter months, where temperatures
can drop as low as negative ten degrees Fahrenheit. The Charlatte
America electric GSE vehicles require less maintenance than
internal combustion-powered equipment and are designed to support
the ongoing market trend to electrification of mobility.
The addition of Plug Power’s ProGen hydrogen fuel cell
technology enables the cargo tuggers to tow up to 40,000 pounds
without stopping for up to four hours and only requires three to
four minutes for refueling. This zero-emission vehicle also
operates with a high energy efficiency of around 45%. The wear and
tear on the vehicles is lower, reducing maintenance demands such as
oil changes, brakes and starter replacements. As a result, these
vehicles reduce operational costs while increasing
productivity.
“The shipping and logistics industry is one of the fastest
growing today, thanks to the rapid growth of eCommerce and
innovations within brick and mortar businesses,” said Andy Marsh,
CEO, Plug Power. “Many of those businesses are able to thrive
because of the efficiency and stability with which FedEx operates.
We’re excited to be at the forefront helping empower FedEx to
deliver those packages with an efficient, sustainable,
solution.”
“FedEx is committed to minimizing its environmental impact,”
said Mitch Jackson, Chief Sustainability Officer, FedEx Corp. “The
inclusion of these clean, hydrogen-powered electric vehicles to our
airport delivery fleet is one way we’re able to integrate
responsible environmental practices in order to increase efficiency
and reduce airport waste and emissions in our local
communities.”
“As the global leader in the development and sale of battery
powered electric GSE, Charlatte understands the rigorous demands
that the ramp environment places upon equipment. The Plug Power
fuel cell model has proven itself to be another green alternative
solution to add to our product offerings for our cargo tractors,”
said Rob Lamb, Vice President Sales & Service, Charlatte
America.
Plug Power built one of the first hydrogen fueling stations on
the East Coast, at its headquarters in Latham, NY. The FedEx
vehicles are refueled and serviced at the Plug Power fueling
station, which has been used to refuel the first FedEx delivery van
since its launch in January. Plug Power also supports more than
25,000 GenDrive fuel cells in the field worldwide.
The Department of Energy’s Fuel Cell Technologies Office within
the Office of Energy Efficiency and Renewable Energy supports early
stage R&D that enables progress in hydrogen and fuel cell
technologies, and has collaborated with Plug Power, FedEx, and
Charlatte on this work.
About Plug Power Inc. The architect of modern
hydrogen and fuel cell technology, Plug Power is the innovator that
has taken hydrogen and fuel cell technology from concept to
commercialization. Plug Power has revolutionized the material
handling industry with its full-service GenKey solution, which is
designed to increase productivity, lower operating costs and reduce
carbon footprints in a reliable, cost-effective way. The Company’s
GenKey solution couples together all the necessary elements to
power, fuel and serve a customer. With proven hydrogen and fuel
cell products, Plug Power replaces lead acid batteries to power
electric industrial vehicles, such as the lift trucks customers use
in their distribution centers. Extending its reach into the on-road
electric vehicle market, Plug Power’s ProGen platform of modular
fuel cell engines empowers OEMs and system integrators to rapidly
adopt hydrogen fuel cell technology. ProGen engines are proven
today, with thousands in service, supporting some of the most
rugged operations in the world. Plug Power is the partner that
customers trust to take their businesses into the future. Learn
more at www.plugpower.com.
Safe Harbor StatementThis communication
contains "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995 that involve
significant risks and uncertainties about Plug Power Inc. ("PLUG"),
including but not limited to statements about PLUG's expectations
regarding growth in Europe, revenue, growth with GenKey customers
and its project financing platform. You are cautioned that such
statements should not be read as a guarantee of future performance
or results, and will not necessarily be accurate indications of the
times that, or by which, such performance or results will have been
achieved. Such statements are subject to risks and uncertainties
that could cause actual performance or results to differ materially
from those expressed in these statements. In particular, the risks
and uncertainties include, among other things, the risk that we
continue to incur losses and might never achieve or maintain
profitability; the risk that we will need to raise additional
capital to fund our operations and such capital may not be
available to us; the risk that our lack of extensive experience in
manufacturing and marketing products may impact our ability to
manufacture and market products on a profitable and large-scale
commercial basis; the risk that unit orders will not ship, be
installed and/or converted to revenue, in whole or in part; the
risk that pending orders may not convert to purchase orders, in
whole or in part; the risk that a loss of one or more of our major
customers could result in a material adverse effect on our
financial condition; the risk that a sale of a significant number
of shares of stock could depress the market price of our common
stock; the risk that negative publicity related to our business or
stock could result in a negative impact on our stock value and
profitability; the risk of potential losses related to any product
liability claims or contract disputes; the risk of loss related to
an inability to maintain an effective system of internal controls
or key personnel; the risks related to use of flammable fuels in
our products; the cost and timing of developing, marketing and
selling our products and our ability to raise the necessary capital
to fund such costs; the ability to achieve the forecasted gross
margin on the sale of our products; the risk that our actual net
cash used for operating expenses may exceed the projected net cash
for operating expenses; the cost and availability of fuel and
fueling infrastructures for our products; market acceptance of our
products, including GenDrive, GenSure and GenKey systems; the
volatility of our stock price; our ability to establish and
maintain relationships with third parties with respect to product
development, manufacturing, distribution and servicing and the
supply of key product components; the cost and availability of
components and parts for our products; our ability to develop
commercially viable products; our ability to reduce product and
manufacturing costs; our ability to successfully expand our product
lines; our ability to successfully expand internationally; our
ability to improve system reliability for our GenDrive, GenSure and
GenKey systems; competitive factors, such as price competition and
competition from other traditional and alternative energy
companies; our ability to protect our intellectual property; the
cost of complying with current and future federal, state and
international governmental regulations; risks associated with
potential future acquisitions; and other risks and uncertainties
referenced in our public filings with the Securities and Exchange
Commission (the “SEC”). For additional disclosure regarding these
and other risks faced by PLUG, see disclosures contained in PLUG's
public filings with the SEC including, the "Risk Factors" section
of PLUG's Annual Report on Form 10-K for the year ended December
31, 2018. You should consider these factors in evaluating the
forward-looking statements included in this presentation and not
place undue reliance on such statements. The forward-looking
statements are made as of the date hereof, and PLUG undertakes no
obligation to update such statements as a result of new
information.
SOURCE: PLUG POWER
Media Contact Kate GundryPluck
617.797.5174plugpower@pluckpr.com
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