Annual List Highlights Technology Solutions Influential in the Global Food and Beverage Supply Chain
LATHAM, N.Y., -- Plug Power Inc. (NASDAQ:PLUG), a leader in providing clean, reliable energy products, announced that it has been named to the 2015Food Logistics FL100+ list. Food Logistics is the only publication dedicated exclusively to the global food and beverage supply chain. The publication's twelfth annual FL100+ list profiles innovative technology and software providers who influence the global food and beverage supply chains.
Plug Power's notable solution, GenKey, is revolutionizing the hydrogen and fuel cell market for material handling applications. GenKey helps food and beverage companies smoothly transition their material handling vehicles over to hydrogen fuel, with Plug Power serving as the single-source vendor providing:
- GenDrive fuel cell units
- GenFuel hydrogen and fueling infrastructure
- GenCare service and aftermarket support
GenKey was launched in January 2014, and has seen tremendous continued adoption in 2015 with new food and beverage customers including Dietz and Watson and FreezPak, and repeat orders from customers including Newark Farmers Market and Kroger.
Plug Power can attribute the expansion of its serviceable market to improvements made within the GenFuel product suite. Previously, Plug Power customers typically saw positive economic value with large-scale lift truck fleets, upwards of 50 trucks. Additionally, Plug Power's innovative GenCare service now allows for remote monitoring of GenDrive and GenFuel systems, enabling real time data processing. As a result, Plug Power customer lift truck fleet performance continues to improve, now averaging out at 98% uptime.
Now, due to technology improvements and streamlined supply chain management within the GenDrive, GenFuel and GenCare product lines, Plug Power customers with as few as 20 lift and reach trucks are able to achieve positive payback.
"Plug Power has only seen continued growth in 2015 as the productivity benefits and cost-effectiveness of our solutions are proven in North America and Europe," said Andy Marsh, CEO at Plug Power. "Plug Power is honored to be recognized for inclusion on the FL100+ list again in 2015, and we congratulate others that have been named as well."
"Developments in the software and technology sector are generating new opportunities for growers, food manufacturers, grocery retailers and the many logistics providers that support them," notes Lara L. Sowinski, editor-in-chief at Food Logistics. "Moreover, cloud-based solutions and mobile connectivity are helping create tools that are more flexible, affordable and responsive, making software and technology even more valuable to those in the global food supply chain."
Plug Power joins other companies who earned a spot on the FL100+ list, which is featured in the November/December 2015 issue of Food Logistics, and is online at www.foodlogistics.com