Plug Power Speaks To California Hydrogen Business Council
LATHAM, N.Y., Dec. 2, 2010 (GLOBE NEWSWIRE) -- Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean, reliable energy solutions, today announced that CEO, Andy Marsh, presented to an influential audience at the California Hydrogen Business Council's (CHBC) General Meeting on December 1, 2010. Mr. Marsh used several customer examples to illustrate the viability of hydrogen fuel cells for the material handling market.
Plug Power has over 800 GenDrive fuel cells installed in applications across North America, accumulating over 2 million hours of run time. By the end of the forth quarter of 2010, Plug Power customers will perform an estimated 4,000-5,000 fuelings of the GenDrive ® fuel cells each week. The use of fuel cells in material handling applications not only benefits the long term viability of the hydrogen economy, but positively impacts the environmental initiatives for the State of California. "Today, total greenhouse gas (GHG) emissions created by forklift trucks in California are estimated to be over 2M tonnes each year. By using hydrogen fuel cells instead of lead-acid batteries, this number could be reduced by as much as 90%, the equivalent of removing 300,000 cars from California roads each year," said Andy Marsh.
The CHBC conference attracted over 70 attendees including Catherine Dunwoodie, Director of the California Fuel Cell Partnership and Mike McGowan, Co-chair of the newly formed Fuel Cell and Hydrogen Energy Association (FCHEA). Other cooperating companies included the South Coast Air Quality Management District, California Air Resource Board, American Honda Motor Co., Inc. and Air Products.Mr. Marsh continued, "It was a pleasure meeting with industry influencers who understand the value and benefits created by the continued build out of the hydrogen economy. California is a very important state for Plug Power to continue the communication of fuel cell products in the material handling market."
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV