This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

BMW Deploys 86 GenDrive Fuel Cells From Plug Power

LATHAM, N.Y., Oct. 12, 2010 (GLOBE NEWSWIRE) -- Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean, reliable energy solutions, today announced it is deploying a fleet of 86 GenDrive™ fuel cell units with customer, BMW Manufacturing Co., LLC. The power units will be used at BMW's newly constructed Greer, South Carolina automotive manufacturing plant in class-1 sit-down counterbalance, class-2 reach and class-3 rider pallet trucks. The lift trucks are manufactured by The Raymond Corporation and Crown Equipment Corporation.

Plug Power's GenDrive units competed against lead-acid batteries and fast charge batteries to be deemed the best power source for BMW's material handling fleet. GenDrive is able to offer BMW increased productivity of its lift truck fleet as well as a more efficient use of its facility space. Operational costs are reduced as a result of decreased operator and vehicle downtime. GenDrive fuel cells can be fueled by truck drivers in 60 to 180 seconds. On average, it takes specialized maintenance personnel 20 minutes to change out a depleted lead-acid battery.

BMW will also see reduced greenhouse gas emissions by using GenDrive power units in its operations. Because GenDrive is powered by hydrogen, the only byproducts are heat and water. The removal of toxic lead-acid batteries from this new facility also creates a safer environment for employees as well as the community and helps fulfill BMW's commitment to a hydrogen based economy.

BMW Manufacturing's new 1.2 million sq. ft. assembly plant is being built north of its already-operational production facility. "With proven benefits to BMW's business and an existing hydrogen infrastructure in place, there is a high potential to convert the entire campus to GenDrive-powered material handling vehicles over the next three years," said Andy Marsh, Plug Power's CEO.

"BMW is pleased to work with partners that share our commitment to clean production. The implementation of a hydrogen fuel cell based application for our material handling equipment helps solidify BMW's position as the leading, sustainable automotive manufacturer," stated Robert Hitt, Department Manager of Public Affairs for BMW Manufacturing. 

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,098.45 +18.88 0.11%
S&P 500 2,003.37 +6.63 0.33%
NASDAQ 4,580.2710 +22.5760 0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs