Central Grocers Invests in Environmentally Friendly Technology to Power Lift Trucks at New Distribution Center
LATHAM, N.Y. � December, 11, 2008 � Plug Power Inc. (NASDAQ: PLUG) announced today that Central Grocers, Inc. has purchased 220 GenDrive� fuel cell units to power the entire lift truck fleet at their new distribution center. The center is currently under construction in Joliet, Illinois, and is expected to be operational by the end of the first quarter of 2009.
Central Grocers chose the hydrogen fuel cell power units, rather than traditional lead-acid batteries, for a new fleet of Yale lift trucks. By using Plug Power's GenDrive fuel cells, Central Grocers expects enhanced productivity within its distribution center. Powering the entire lift truck fleet with GenDrive will eliminate the need to invest in a battery charging and changing infrastructure, reducing operational costs and opening up valuable floor space for the distribution business. The use of fuel cells also reduces the carbon footprint of the distribution center and removes the storage and handling of toxic materials associated with the use of lead-acid batteries from the workplace.
"Central Grocers represents the first greenfield site to incorporate our GenDrive solution into its operations. Greenfield sites offer the potential for the greatest financial and operational benefits to our customers by eliminating the need for capital investments in batteries and the associated chargers, storage and changing systems," said Andy Marsh, CEO of Plug Power. "This purchase also helps Central Grocers green their supply chain as well as their business operations."
The GenDrive units will be fueled by compressed hydrogen gas, which is converted from liquid hydrogen. The units are fueled by the lift truck operator at a conveniently located dispenser, much like fueling an automobile. Air Products (NYSE: APD) will supply both the liquid hydrogen storage compression system as well as multiple indoor fueling dispensers. GenDrive can be quickly refueled by the lift truck operator in less than two minutes. This completely eliminates the need to change, store, charge and maintain multiple lead-acid batteries per lift truck.
Yale Equipment Services, located in Rosemont, Illinois, will service both the lift trucks and GenDrive fuel cell units. The Yale lift trucks provide unique features such as regenerative lift and lower on stand-up units to improve energy efficiency and power steering on pallet trucks to enhance operator productivity.
About Plug Power
Plug Power Inc. (NASDAQ: PLUG), an established leader in the development and deployment of clean, reliable energy solutions, integrates fuel cell technology into motive, continuous and backup power products. The Company is actively engaged with private and public customers in targeted markets throughout the world. For more information about how to join Plug Power's energy revolution as an investor, customer, supplier or strategic partner, please visit www.plugpower.com.
About Central Grocers
In a city of big stores, Central Grocers helps neighborhood markets stay afloat. The member-owned cooperative supplies food and general merchandise to more than 200 independent retail grocery stores in the Chicago area and in parts of Indiana. It distributes products under both national brands and its own Centrella brand. The co-op also operates a number of stores under such banners as Strack & Van Til, Town & Country, Key Market, and the low-cost Ultra Foods chain. Central Grocers was founded in 1917.
About Yale Materials Handling Corporation
Yale Materials Handling Corporation markets a full line of energy efficient materials handling lift truck products and services, including electric, gas, LP-gas and diesel powered lift trucks; narrow aisle, very narrow aisle and motorized hand trucks. All Yale� trucks are manufactured in plants meeting ISO 14000 environmental standards. Company engineers are researching and investing in new technologies to help make lift trucks more energy efficient. Yale is a market leader in the development of electric trucks designed to duplicate the performance of ICE trucks. Yale is also a market leader in the introduction of regenerative technology on electric trucks to help conserve energy. Yale� trucks are manufactured in ISO 9001:2000 registered facilities and range in capacity from 2,000 to 36,000 pounds. For more information, or to find the authorized Yale� lift truck dealer nearest you, call 1-800-233-YALE or visit www.yale.com.
About Air Products
Air Products (NYSE:APD) serves customers in industrial, energy, technology and healthcare markets worldwide with a unique portfolio of atmospheric gases, process and specialty gases, performance materials, and equipment and services. Founded in 1940, Air Products has built leading positions in key growth markets such as semiconductor materials, refinery hydrogen, home healthcare services, natural gas liquefaction, and advanced coatings and adhesives. The company is recognized for its innovative culture, operational excellence and commitment to safety and the environment. Air Products has annual revenues of over $10 billion, operations in more than 40 countries, and 21,000 employees around the globe. For more information, visit www.airproducts.com.
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 statements regarding our growth plan. We believe that it is important to communicate our future expectations to our investors. However, there may be events in the future that we are not able to accurately predict or control and that may cause our actual results to differ materially from the expectations we describe in our forward-looking statements, including, without limitation, the risk that unit orders will not ship, be installed and/or convert to revenue, in whole or in part; Plug Power's ability to develop commercially viable energy products; the cost and timing of developing Plug Power's energy products; market acceptance of Plug Power's energy products; Plug Power's ability to manufacture energy products on a large-scale commercial basis; competitive factors, such as price competition and competition from other traditional and alternative energy companies; the cost and availability of components and parts for Plug Power's energy products; Plug Power's ability to establish 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 fuel and fueling infrastructures for Plug Power's energy products; Plug Power's ability to protect its Intellectual Property; Plug Power's ability to lower the cost of its energy products and demonstrate their reliability; the cost of complying with current and future governmental regulations; the impact of deregulation and restructuring of the electric utility industry on demand for Plug Power's energy products; and other risks and uncertainties discussed under "Item IA�Risk Factors" in Plug Power's annual report on Form 10-K for the fiscal year ended December 31, 2007, filed with the Securities and Exchange Commission ("SEC") on March 17, 2008, and the reports Plug Power files from time to time with the SEC. Plug Power does not intend to and undertakes no duty to update the information contained in this communication.
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Plug Power Media Contact:
Katrina Fritz Intwala
Phone: (518) 782-7700 ext. 1360
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Plug Power Investor Relations Contact:
Cathy Yudzevich
Phone: (518) 782-7700 ext. 1448
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