Marsh to present on hydrogen fuel cell solutions addressing motive and stationary power applications
LATHAM, N.Y., Oct. 04, 2019 (GLOBE NEWSWIRE) -- Plug Power Inc. (PLUG), a leading provider of hydrogen engines and fueling solutions enabling e-mobility, is participating in a United Nations side event hosted by ROTH Capital Partners today, October 4, 2019. Plug Power’s CEO Andy Marsh will address UN delegates and Secretariat as well as the private sector and academia representatives. Marsh will showcase the short and long term potential of hydrogen fuel cells in helping member countries achieve the UN Sustainable Development Goals (SDG) by 2030.
Plug Power is the global industry leader in hydrogen and fuel cell systems, thus far achieving unmatched accomplishments. Having deployed more than 28,000 fuel cell engines into mobility equipment today, the Company is facilitating and benefiting from paradigm shifts in the transportation and energy industries.
Hydrogen fuel cells generate only heat and water as a byproduct of energy generation, allowing users to dramatically reduce the greenhouse gas emissions of their businesses. Marsh’s presentation will not only showcase Plug Power’s proven success in the United States with customers such as Walmart, Amazon, and BMW, but also internationally with users including DHL, Engie and CHEM.
According to the Fuel Cells and Hydrogen Energy Association, cars and trucks account for nearly one-fifth of all U.S. carbon emissions, releasing 24 pounds of carbon dioxide and other global-warming gases for every gallon of gasoline used. “In an electrified world, hydrogen fuel cells make a lot of sense in applications that require high-asset utilization,” said Andy Marsh, CEO for Plug Power. “Hydrogen fuel cells can make a significant impact on meeting SDGs from an environmental and economic perspective.”
“A global hydrogen vision set by The Hydrogen Council estimates that by 2050 hydrogen will support 19% of global energy demand, creating 45 million jobs,” continued Marsh. “As the world moves to electric solutions, hydrogen and fuel cell power will become increasingly important to achieving sustainability goals.”
According to Jesse Pichel, Managing Director of Cleantech Investment Banking at ROTH Capital Partners and also a Board Member of NGO Sustainability Inc., “Traditionally business has been the engine of economic, technological, and social progress, while increasingly contributing to social causes. There is growing consensus that private sector engagement is an indispensable tool for most effective outcomes.”
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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.
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 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, 2018. 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.
The Bulleit Group
SOURCE: PLUG POWER