2 October 2015, 10:12
Company Also Confirms Sales Outlook for 2015
Plug Power Inc., a leader in providing clean, reliable energy solutions, today announces its participation in the California Hydrogen & Fuel Cell Summit that began yesterday September 30 and continues through today October 1, 2015 in Sacramento.
Plug Power’s President and CEO Andy Marsh, will present a keynote today from 1:00 to 1:30 pm PT that provides his vision regarding the success of sustainable hydrogen fuel cells in the material distribution industry. Marsh will also stress the importance of substantial and economically viable hydrogen solutions for continued market expansion.
This year’s event, hosted by the California Hydrogen Business Council (CHBC), is the third annual California Hydrogen and Fuel Cell Summit at the California EPA. The CHBC Summit brings together some of the most successful and brightest industry leaders in the nation to interact with the most influential members of the political community, and will cover the industry’s key business, political, technology and environmental issues.
“I look forward to addressing this conference because this has been an exciting year for advocates of hydrogen, with a tremendous increase in development of new hydrogen-based businesses and technologies worldwide,” said Marsh. “Plug Power applauds the work being done by the CHBC to raise awareness and promote the benefits of hydrogen and fuel cells.”
Plug Power is a platinum member of the CHBC, and Jim Petrecky, the company’s Vice President of Business Development, sits on the CHBC board of directors.
Sales Outlook Confirmed
Plug Power continues to project bookings of more than $200 million in 2015, and forecasts total sales in excess of $100 million for the year, including sales of more than 3,300 GenDrive units and construction of more than 15 GenFuel hydrogen infrastructures. Third quarter revenues are expected to exceed $30 million.
One sales driver is Plug Power’s expansion in Europe, as it now owns 100 percent of HyPulsion, following acquisition of the joint venture from partner Air Liquide. HyPulsion, which is being renamed Plug Power Europe, already has an existing suite of CE-certified products and has developed OEM relationships in many countries. Plug Power is actively engaged with customers in Europe, placing strong sales emphasis on countries where high productivity is essential.
Within North America, repeat customers like Walmart, are enabling Plug Power to maintain ongoing success via multiple deployments. Large customers validate the GenKey value proposition, but GenKey is also attractive to mid-size customers, such as Dietz and Watson, FreezPak Logistics and Newark Farmers Market, due to the cost-effectiveness of implementing an onsite GenFuel hydrogen infrastructure.