Ace Hardware Deploying 65 GenDrive Fuel Cells From Plug Power
Units to Run Material Handling Equipment at Newly Constructed Distribution
LATHAM, N.Y., April 2, 2013 (GLOBE NEWSWIRE) -- Plug Power Inc. (Nasdaq:PLUG),
a leader in providing clean, reliable energy solutions, today announced it
will deploy a fleet of 65 GenDrive™ fuel cell units for customer, Ace Hardware
Corporation. The power units will be used at Ace Hardware's newest Retail
Support Center, located in Wilmer, Texas. Construction on the facility broke
ground in mid-March for completion in early 2014. The lift trucks are
manufactured by 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 material handling
fleet. GenDrive is able to offer Ace Hardware 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
off floor time. GenDrive fuel cells can be fueled by truck operators in less
than two minutes.
Ace Hardware will also see reduced greenhouse gas emissions by using GenDrive
power units in its operations. Because GenDrive is powered by hydrogen, the
only by-products 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 Ace's desire to improve the sustainability
of their distribution centers.
"We look forward to working with Ace Hardware as yet another new customer in
the Plug Power lineup. Over the next six to 12 months Ace Hardware will see
improved productivity, lower electrical bills and more floor space available
for storing goods," said Andy Marsh, Plug Power's CEO.
"Ace Hardware is pleased to align with Plug Power, an organization that will
help drive our commitment to clean energy," said Dave Forte, Director of
Distribution Support and Engineering, Ace Hardware Corporation. "The
implementation of a hydrogen fuel cell based application for our material
handling equipment advances our strategy to provide the highest level of
support to our customers and the communities that we serve, and that includes
distribution centers that are focused on sustainability."
About Plug Power Inc.
The architects of modern fuel cell technology, Plug Power revolutionized the
industry with cost-effective power solutions that increase productivity, lower
operating costs and reduce carbon footprints. Long-standing relationships with
industry leaders forged the path for our key accounts, including Wegmans,
Whole Foods, and FedEx Freight. With more than 3,500 units in the field and
over 6 million hours of runtime, Plug Power manufactures tomorrow's incumbent
power solutions today. Visit us at www.plugpower.com.
The Plug Power Inc. logo is available at
About Ace Hardware
For nearly 90 years, Ace Hardware has been known as the helpful hardware store
in thousands of neighborhoods across America, providing customers with a more
personal kind of helpful. With more than 4,600 hardware stores locally owned
and operated across the globe, Ace is the largest hardware cooperative in the
industry. Headquartered in Oak Brook, Ill., Ace and its subsidiaries currently
operate 14 distribution centers in the U.S and also have distribution
capabilities in Shanghai, China; Panama City, Panama; and Dubai, United Arab
Emirates. Its retailers' stores are located in all 50 states, the District of
Columbia and approximately 60 countries. For more information on Ace, visit
Plug Power Inc. Safe Harbor Statement
This communication contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995, including but not
limited to expectations regarding revenues and product orders for 2013. These
statements are based on current expectations that are subject to certain
assumptions, risks and uncertainties, any of which are difficult to predict,
are beyond our control and that may cause our actual results to differ
materially from the expectations in our forward-looking statements including
statements regarding the risk that unit orders will not ship, be installed
and/or convert to revenue, in whole or in part; the cost and timing of
developing our products and our ability to raise the necessary capital to fund
such development costs; the ability to achieve the forecasted gross margin on
the sale of our products; the actual net cash used for operating expenses may
exceed the projected net cash for operating expenses; the cost and
availability of fuel and fueling infrastructures for our products; market
acceptance of our GenDrive system; our ability to establish and maintain
relationships with third parties with respect to product development,
manufacturing, distribution and servicing and the supply of key product
components; the cost and availability of components and parts for our
products; our ability to develop commercially viable products; our ability to
reduce product and manufacturing costs; our ability to successfully expand our
product lines; our ability to improve system reliability for GenDrive;
competitive factors, such as price competition and competition from other
traditional and alternative energy companies; our ability to manufacture
products on a large-scale commercial basis; our ability to protect our
intellectual property; the cost of complying with current and future
governmental regulations; and other risks and uncertainties discussed under
"Item IA-Risk Factors" in our annual report on Form 10-K for the fiscal year
ended December 31, 2012, filed with the Securities and Exchange Commission
("SEC") on April 1, 2013, and the reports we file from time to time with the
SEC. Plug Power does not intend to, and undertakes no duty to update any
forward-looking statements as a result of new information or future events.
CONTACT: Media Contact:
Plug Power Inc.
Phone: (518) 478-5996
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