Plug Power To Address Vertical Integration At Scale During The 2019 Ohio Fuel Cell Symposium
June 25 2019 - 10:12AM
Plug Power Inc. (NASDAQ: PLUG), a leading provider of hydrogen
engines and fueling solutions enabling e-mobility, today announced
that it will participate in the 2019 Ohio Fuel Cell Symposium in
Columbus, OH. The event is produced by the Ohio Fuel Cell
Coalition, an organization designed to accelerate the region’s
leadership in fuel cell technology. Plug Power’s CEO, Andy Marsh,
will present as a keynote at the Symposium. The Ohio Fuel Cell
Coalition has attracted leaders from across the industry to
discover opportunities and create solutions to advance fuel cell
technology businesses in the state.
At the Symposium, Mr. Marsh will speak on Plug Power’s vertical
integration strategy and why it has been a crucial component to
growing the business. From material handling and ground support
equipment applications, to long- and short-haul delivery trucks, to
autonomous vehicles and drones, Marsh explains how Plug Power
stepped in to power market verticals once untouched by the
possibilities of fuel cells.
Mr. Marsh’s session is open to registered forum attendees:
- Date: Thursday, June 27, 2019
- Andy Marsh Speaking Time: 9:20-9:55 AM
EDT
- Location: Quest Conference Center8405 Pulsar
PlaceColumbus, Oh 43240
Plug Power has a significant footprint in the State of Ohio. The
company employs almost 30 employees through the state, and operates
a service center in Dayton. In total, Plug Power has commissioned
1,450 GenDrive units in the state, including a long-standing
deployment at Walmart’s Washington Courthouse distribution center.
Every day, approximately 1,460 hydrogen fills are completed in Ohio
by Plug Power customers.
Ohio has quickly become a leading state for fuel cell
technology, with strong industry and academic ties to research and
development, advanced manufacturing, advanced materials technology,
components, and services. According to the US Department of Energy,
more than $100 million in fuel cell components were purchased from
Ohio supply chain companies in 2015, meaning there isn't a fuel
cell manufactured in the United States that does not include Ohio
components. In addition, Ohio’s local and national congressional
representatives have shown support for the industry, enabling the
creation of new, clean economy jobs for the state. 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.
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, 2017. 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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