Plug to Provide STEF with Green Hydrogen and Fuel Cell Solutions for Cold Storage Distribution Centers
June 14 2023 - 7:00AM
Plug to Provide STEF with Green Hydrogen and Fuel Cell Solutions
for Cold Storage Distribution Centers
Plug Power Inc. (NASDAQ: PLUG), a leading provider of turnkey
hydrogen solutions for the global green hydrogen economy, will
supply Blue EnerFreeze, the energy subsidiary of STEF, the European
market leader in the transportation and logistics of food products,
with a complete green hydrogen ecosystem across two distribution
centers, before potentially expanding further into their network of
over 100 sites. One of the distribution centers is close to Paris,
France and the other is close to Madrid, Spain.
Temperatures in STEF’s chilled and frozen food
storage warehouses can plunge to negative 30 degrees Celsius, in
worst cases. Under these conditions, lead acid battery-powered
forklifts lose their charge quickly. Meanwhile, hydrogen fuel cells
display superior performance in cold storage environments, offering
higher asset utilization and increased levels of autonomy in
demanding, typically multi-shift, mobility applications.
The transition from lead-acid batteries to
Plug’s hydrogen fuel cells will potentially improve STEF’s forklift
labor productivity due to maximum power over an entire shift.
Battery-powered lift trucks lose approximately 14% of their speed
over the last half of the battery charge. Unique to cold storage
applications the switch to fuel cells allows operators to stay
productive longer. This also means that lift truck operators can
continue working in the cold storage facility for a full shift
strengthening their comfort and avoiding changing of the
batteries.
In parallel, fuel cell power solutions never
require charging or changing. Battery changing currently requires
15 minutes per shift compared to two minutes for hydrogen
refueling. Over a year, that 13 minutes saved per shift
represents more than 234 hours of lost productivity per forklift
truck in a three-shift operation.
Toyota will provide compatible fuel cell-ready
forklift models, designed and manufactured for operator comfort,
productivity and efficiency in mind, for this project as part of
its commitment to developing fuel cell projects across Europe.
The Paris and Madrid cold/freezer storage sites
will be converted to fuel cells and be operational in the first
quarter of 2024. After the success of these two sites, STEF and
Plug plan to expand the use of fuel cells in STEF's more than 100
distribution centers in Europe.
“Our partnership with STEF as a pedestal
customer represents a significant expansion for Plug into Europe,”
said Plug CEO Andy Marsh. “We are seeing tremendous interest in
hydrogen solutions in Europe. This partnership, and others coming
later this year, validate Plug’s strategy to expand in the European
market.”
“Our expectations on these first two projects
are high and aim at increasing STEF operators’ comfort and safety
in a shift by avoiding battery change and improving intralogistics
efficiency of our warehouses,” said Vincent Kirklar, STEF Executive
Committee member leading Reals Estate and Energy activities. “In
Madrid, the hydrogen will be produced on-site using power generated
by our 2.9 MWp photovoltaic rooftop plant, enabling us to consume
fully green and locally produced hydrogen! We're proud of these
projects that combine our care for people and the planet!”
STEF, the European leader in the transportation
and logistics of food products operating for more than 100 years,
provides specialist solution services for our industry, retail and
food service customers in 8 European countries.
For more information on Plug’s material handling
solutions, contact the Plug team:
https://www.plugpower.com/contact-the-material-handling-team/
About PlugPlug is building an
end-to-end green hydrogen ecosystem, from production, storage and
delivery to energy generation, to help its customers meet their
business goals and decarbonize the economy. In creating the first
commercially viable market for hydrogen fuel cell technology, the
company has deployed more than 60,000 fuel cell systems and over
180 fueling stations, more than anyone else in the world, and is
the largest buyer of liquid hydrogen. With plans to build and
operate a green hydrogen highway across North America and Europe,
Plug is building a state-of-the-art Gigafactory to produce
electrolyzers and fuel cells and multiple green hydrogen production
plants that will yield 500 tons of liquid green hydrogen daily by
year end 2025. Plug will deliver its green hydrogen solutions
directly to its customers and through joint venture partners into
multiple environments, including material handling, e-mobility,
power generation, and industrial applications. For more
information, visit www.plugpower.com.
Plug Power Safe Harbor
Statement This 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 intention to deliver a complete
green hydrogen ecosystem to two STEF distribution centers; Plug’s
expectation that the Paris and Madrid cold/freezer storage sites
will be converted to fuel cells and that these hydrogen solutions
will be fully operational in Q1 2024; Plug’s expectation to expand
further into STEF’s network of over 100 sites in the future; The
transition from lead-acid batteries to Plug’s hydrogen fuel cells
potentially improving STEF’s forklift labor productivity; Toyota
providing compatible fuel cell-ready forklift models; Plug’s long
term plans to produce electrolyzers and fuel cells and multiple
green hydrogen production plants that will yield 500 tons of liquid
green hydrogen daily by year end 2025. Such statements are subject
to risks and uncertainties that could cause actual performance or
results to differ materially from those expressed in these
statements. For a further description of the risks and
uncertainties that could cause actual results to differ from those
expressed in these forward-looking statements, as well as risks
relating to the business of PLUG in general, see PLUG’s public
filings with the Securities and Exchange Commission (the “SEC”),
including the “Risk Factors” section of PLUG’s Annual Report on
Form 10-K for the year ended December 31, 2022 and any subsequent
filings with the SEC. Readers are cautioned not to place undue
reliance on these forward-looking 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.
MEDIA CONTACT
Caitlin Coffee
Allison+PartnersplugPR@allisonpr.com
Plug Power (TG:PLUN)
Historical Stock Chart
From Aug 2024 to Sep 2024
Plug Power (TG:PLUN)
Historical Stock Chart
From Sep 2023 to Sep 2024