ATHAM, N.Y., July 02, 2021 (GLOBE NEWSWIRE) — Plug Power Inc. (NASDAQ:PLUG), a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, has been named to the Top Green Providers list for 2021 by Food Logistics, the only publication exclusively dedicated to covering the movement of product through the global cold food supply chain. Food Logistics’ annual Top Green Providers recognizes companies whose products, services or exemplary leadership is enhancing sustainability within the cold food and beverage industry. The editorial staff evaluates a company’s participation in such programs as the EPA’s SmartWay and other recognized sustainability programs; facilities that are LEED-certified and/or feature solar panels, LED lighting and other energy saving installations and retrofits; and other means of producing measurable reductions in GHG emissions, to name a few. 2021 marks the fifth year in a row that Plug Power has been named on the Top Green Providers list. Plug Power’s industry record number of 40,000 GenDrive fuel cell units deployed have logged more than 713 million hours of runtime in the material handling field and over 39.9 million hydrogen fills performed. These staggering numbers underscore the impact our products are making on the global logistics industry and sustainability. During the height of the pandemic, Plug Power’s robust products were operating at 99% efficiency and moved approximately 30% of the retail food and groceries through the United States to support the needs of customers like Walmart, Amazon, Kroger, SuperValu, Wegmans, and Aryzta. Plug Power fuel systems continue to run at record high levels, and we continue to be deemed an essential business due to our role within the global food supply chain. „When the pandemic hit, I thought for sure that sustainability would be pushed to the wayside. But, in fact, the complete opposite happened. And, I couldn’t be more appreciative of the supply chain industry’s efforts in making sustainability top of mind in every aspect of their organization despite the many supply chain disruptions they continue to face,” says Marina Mayer, Editor-in-Chief of Food Logistics and Supply & Demand Chain Executive. “Sustainability is the key to success, and the recipients of this year’s award prove that when sustainability matters to them, they will continue to do great things and make a difference in the industry.” “We recently increased our green hydrogen generation targets to 500 tons per day by 2025 and 1,000 tons per day before 2028. Working with partners, Plug Power has continued to make progress on moving multiple plants forward with expected completion of two green hydrogen generation plants by the end of 2022,” said Andy Marsh, Plug Power CEO. “We remain committed to building a resilient, first of a kind, green hydrogen network in the US to support the mission to decarbonize the broader transportation and logistics industries, a mission shared by both Plug Power and its customers.”
About Plug Power
Plug Power is building the green hydrogen economy as the leading provider of comprehensive green hydrogen and fuel cell turnkey solutions. The Company’s innovative technology powers electric motors with hydrogen fuel cells amid an ongoing paradigm shift in the power, energy, and transportation industries to address climate change and energy security, while meeting sustainability goals. Plug Power created the first commercially viable market for hydrogen fuel cell technology. As a result, the Company has deployed over 40,000 fuel cell systems for e-mobility, more than anyone else in the world, and has become the largest buyer of liquid hydrogen, having built and operated a hydrogen highway across North America. Plug Power delivers a significant value proposition to end-customers, including meaningful environmental benefits, efficiency gains, fast fueling, and lower operational costs. Plug Power’s vertically-integrated GenKey solution ties together all critical elements to power, fuel, and provide service to customers such as Amazon, BMW, The Southern Company, Carrefour, and Walmart. The Company is now leveraging its know-how, modular product architecture and foundational customers to rapidly expand into other key markets including zero-emission on-road vehicles, robotics, and data centers. Learn more at www.plugpower.com.
About Food Logistics
Food Logistics is the only publication exclusively dedicated to covering the movement of product through the global cold food supply chain, focusing on trucking, warehousing, packaging, risk management, food safety and more. Go to www.FoodLogistics.com.
Safe Harbor Statement
This communication contains „forward-looking statements“ within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties about Plug Power Inc.(„PLUG“), including but not limited to statements about PLUG’s expectations regarding its business strategy and goals and its expectations concerning its environmental, social and governance initiatives, and its market positions and future operations or performance. You are cautioned that such statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times that, or by which, such performance or results will have been achieved. Such statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in these statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of PLUG in general, see PLUG’s public filings with the Securities and Exchange Commission, including the “Risk Factors” section of PLUG’s Annual Report on Form 10-K for the year ended December 31, 2020. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made as of the date hereof, and PLUG undertakes no obligation to update such statements as a result of new information.
Ian Martorana The Bulleit Group (415) 237-3681