This Day On The Street
Continue to site
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

Plug Power Announces First Quarter 2013 Financial Results

LATHAM, N.Y., May 14, 2013 (GLOBE NEWSWIRE) -- Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean, reliable energy solutions, today reported its financial results for the first quarter 2013.

Plug Power (the "Company") business highlights in the first quarter of 2013 include product shipments to customers such as Lowes, P&G, and Sysco. The Lowes' shipment was to support the opening of a brand new distribution center in Georgia. Also, the Company completed conversion of all the units at Walmart's Washington Courthouse, Ohio, facility to fuel cell powered forklift trucks with over 250 units in operation. Plug Power, to date, has shipped over 4,000 GenDrive® units to over 23 different customers. These units consume more than 90% of the hydrogen fuel used to power fuel cell products in North America. This is a clear indication of Plug Power's leadership position in the fuel cell industry.

A prime focus of Plug Power management in 2013 has been to strengthen its financial position to support all stakeholders. The Company recently announced a $6.5 million strategic investment from Air Liquide. An Air Liquide representative will also be joining the board of directors, which will provide the Company additional industrial insight. The Company also recently added Johannes Minho Roth, founder of 5T Capital, to the board of directors. Mr. Roth offers the Company financial depth and international experience.

"I am pleased with our business progress in 2013," said Andy Marsh, CEO of Plug Power. "We have dramatically improved our quality, have added to our customer list, and have enhanced our financial position. The sales prospects and funnel remain strong for the rest of the year, and we expect that the business steps taken over the past six months will result in increased customer traction." Marsh concluded, "I remain upbeat about the future of Plug Power."

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs