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Plug Power to Begin Production of Next Generation Class 1 Material Handling Equipment with ProGen Hydrogen Fuel Cell Engine Technology

By February 19, 2019

February 19, 2019

LATHAM, N.Y.–Plug Power Inc. (NASDAQ:PLUG), a leading provider of energy solutions that change the way the world moves, today announced that it has begun standard production of the family of next generation class 1 GenDrive systems for industrial lift trucks.

These new units are designed with Plug Power’s proven ProGen hydrogen fuel cell engine technology which delivers increased efficiency and higher reliability. The new units include several significant enhancements such as larger fuel tanks for increased runtime (approximately 10%) and wireless communication capabilities for operations data and effective fleet management. With a new design that is focused on ease of service for both field technicians and customers, Plug Power also improved the product serviceability, reducing the time and effort required to work on the units.

The first customer orders are expected to ship in March 2019. Plug Power will deploy this premium product in manufacturing applications such as high-volume automotive assembly facilities, empowering the world’s leading companies to drive efficiency and sustainability with proven hydrogen-powered logistics and material handling vehicles. Major automotive manufacturers including BMW, Mercedes and Toyota are among Plug Power’s impressive client roster.

“According to Moody’s, global light vehicle sales are projected to grow in 2019, which means our automotive manufacturing customers are going to need dependable equipment that will enable them to keep up with the demands of a continuously growing industry,” said Andy Marsh, CEO, Plug Power. “We’re proud to be working with these leading companies to revolutionize one of the world’s most influential industries as we move together towards a clean and sustainable future of mobility.”

In addition to today’s announcement, Plug Power will be showcasing its sustainable, zero emission material handling and logistics technology at this week’s LogiMAT conference in Germany. Plug Power representatives will be stationed at Hall 2 Stand A05 with Toyota and available to speak should you be at the show and want to learn more. LogiMAT provides the trade audience with a comprehensive review of all the main themes in the sector, from procurement to production and deliveries. International exhibitors showcase innovative technologies, products, systems, and solutions for rationalization, process optimization, and cost-reduction of in-company logistics processes.

What: LogiMAT 2019
Date: February 19 – 21, 2019
Location: Stuttgart Trade Fair Centre
Hall 2 Stand A05
Messepiazza 1, 70629 Stuttgart, Germany

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.