This Day On The Street
Continue to site
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

Plug Power Announces Industry's Highest Capacity Fuel Cell For Material Handling Applications

LATHAM, N.Y., June 24, 2013 (GLOBE NEWSWIRE) -- Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean, reliable energy solutions, today announced the GenDrive Series 1000 product family has a new member, the GenDrive 1900. It is Plug Power's highest-power fuel cell yet and one of the largest developed for material handling applications.

The GenDrive 1900 is designed as a drop-in replacement for lead-acid batteries on six-ton capacity, four-wheel, class-one counterbalanced forklift trucks. Six-ton forklift trucks are among the most popular large-capacity forklift trucks in use.

The new fuel cell is the company's first to feature an optional second hydrogen tank to double hydrogen capacity. With both tanks installed, the fuel cell can store up to 3.4 kg of hydrogen with an energy capacity of 50 kilowatt-hours (kWhr). Capable of a constant power output of 14kW, the fuel cell delivers more than eight hours of runtime, which is 50% more than a conventional battery in this application. The GenDrive 1900 has a refill time of two minutes, maximizing the productivity of forklift trucks.

The new fuel cell is part of the GenDrive Series 1000 products targeted at sit-down counterbalanced trucks that are used in high-volume manufacturing and high-throughput warehousing and distribution operations. Other products in the family include the 1400, 1500, 1600 and 1700 for three-wheel and four-wheel counterbalanced trucks.

With this new offering in its product line, Plug Power now provides a complete solution that spans all class-one forklift trucks, making it possible for its retail and manufacturing material handling customers to standardize on hydrogen fuel cells in place of lead-acid batteries.

"This is a very important extension of the GenDrive Series 1000 product line because it means that our customers can fully commit to a hydrogen-powered forklift fleet that enhances environmental impact, eliminates the need for battery storage and provides a better return on their investment in hydrogen fueling and storage," said Andy Marsh, Plug Power president and CEO. "This is important for Plug Power too, as it expands our addressable market and cements our reputation as the leading PEM fuel cell integrator in the material handling industry."

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
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
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
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,625.46 +184.87 1.06%
S&P 500 2,091.45 +23.81 1.15%
NASDAQ 5,086.9890 +47.2130 0.94%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs