Plug Power Receives $172M Order for Hydrogen and Fuel Cell Solutions From Fortune 100 Customer
Plug Power, Inc. (PLUG)
Last plug power, inc. earnings: 3/5 07:00 am
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Source: GlobeNewswire
LATHAM, N.Y., Jan. 06, 2020 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a leading provider of hydrogen engines and fueling solutions enabling e-mobility, received an order at the close of 2019 from a Fortune 100 customer for hydrogen fuel cell deployments across their distribution network over the next two years. This contract, valued at more than $172 million, is for Plug Power’s GenDrive fuel cell power, GenFuel hydrogen fuel, storage and dispensing infrastructure, and GenCare aftermarket service and support. The global total available market for material handling is currently valued at $30 billion. Plug Power’s turnkey hydrogen and fuel cell solutions are attractive in high utilization environments, where they have a distinct advantage as compared to batteries. Hydrogen fuel cells are adopted to increase productivity, lower operational costs and reduce greenhouse gas emissions. Plug Power customers have reported a 15% productivity increase, and savings per year greater t
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