This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Plug Power Customer BMW Now Operating Largest Hydrogen Fuel Cell Fleet In North America

LATHAM, N.Y., June 6, 2013 (GLOBE NEWSWIRE) -- Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean, reliable energy solutions, today announced that BMW Manufacturing Co. recently expanded the use of Plug Power hydrogen fuel cells at its Spartanburg, South Carolina facility to power all material handling trucks and forklifts, bringing its clean energy fleet to 275 units. This makes it the largest such fleet in North America.

BMW maintains a commitment to environmental responsibility and continues to incorporate efficient, alternative technology in its production processes whenever possible. In 2010, after installing a storage and distribution area for hydrogen supplied by Linde Industrial Gases near its 4 million-square-foot production facility in Spartanburg, BMW equipped more than 100 forklift trucks and pallet jacks in its X3 assembly hall with Plug Power's GenDriveā„¢ hydrogen fuel cell system. Now, BMW has added GenDrive units to another 175 trucks and forklifts in the assembly hall for its X5 and X6 automobiles and in its paint and body shops.

Clean GenDrive hydrogen fuel cells are an alternative to lead-acid batteries in the $20 billion global material handling market. Use of the fuel cells lowers operational costs, produces zero emissions and improves reliability. Fuel cell usage also eliminates the need for large battery storage and charging rooms, freeing up valuable production space and removing any lead and sulfuric acid contamination from the work environment. Since battery charging is no longer required, total electricity demand is reduced and the fees associated with battery recycling and disposal are eliminated.

BMW chose to deploy GenDrive fuel cells in its manufacturing center to full take advantage of those and other benefits, such as increased productivity for both vehicle operators and production. Material handling trucks powered by fuel cells run longer at full speed unlike battery-powered trucks that experience voltage drops and speed reductions of approximately 14% when a re-charge is needed. Re-fueling can be completed in two minutes or less, as opposed to the 20 minutes required to replace a battery.

1 of 2

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

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