Yes, the technology works very well as proven by the large numbers of fork lifts currently operating with it successfully as well as the continuous orders for more of them from very satisfied customers.
I agree with Runjjd that the technology is working, as evidenced by the repeat orders. The problem I think, is also addressed by Newsflash when he wonders if it makes "economical sense". At the current selling price, at which PLUG cannot sell at a profit, the customers seem to be able to make the economics work. If PLUG is unsuccessful in achieving their cost reduction plans and has to sell at a higher price, then the economics might not be so attractive. So, kind of a "mixed answer".
Not sure if in fact the technology works. It surely does not make much economical sense. Company is definitely mismanaged. Always has been. The entire management team needs to be replaced. Any board member that has been there for more than 4 years needs to be replaced. Why would they get rid of anyone as long as shareholders continue to provide them with the gravy train? As long as their are investors out there that actually believe the lies that this management team spew they will go nowhere.