Source: Plug Power Inc.

Coca-Cola Consolidated to Install Hydrogen Fueled Forklifts


 * Cutting-Edge Fuel Cell Technology
 * Lowers Costs and Greenhouse Gas Emissions
 * Maintains Productivity With Convenient In-Plant Refueling Stations

LATHAM, N.Y., Oct. 1, 2009 (GLOBE NEWSWIRE) -- The nation's second largest Coca-Cola bottler will install 40 hydrogen-powered forklifts at its Charlotte, North Carolina production center. Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean, reliable energy solutions, announced today that it will provide its class-1 sit down counterbalanced GenDrive(TM) fuel cell solution to Coca-Cola Bottling Co. Consolidated early in 2010.

"With these fuel cell materials handling units, we will be able to maintain productivity, decrease operating costs and lower greenhouse gas emissions by 30 percent," said Coca-Cola Consolidated spokesman Lauren C. Steele. "We assessed many different technologies for our materials handling fleet and believe the Plug Power fuel cell units give us the best overall solution."

In deciding to convert its material handling fleet from internal combustion to a cleaner technology, Coca-Cola Consolidated considered several options. One alternative, batteries, would allow the company to move to electric lift trucks, but consumed valuable facility space with battery charging equipment and infrastructure. With batteries also came operator downtime and decreased productivity as time is spent changing and charging the power source.

With Plug Power's GenDrive fuel cell, the soft drink manufacturer is able to maintain productivity, cut operating costs and lower greenhouse gas emissions significantly. Operators are able to run equipment at full speed for an entire shift, thus maximizing efficiency. Compact hydrogen fueling stations are conveniently located throughout the facility, allowing for easy refueling. Successful product demonstrations under rigorous conditions proved GenDrive as a commercially viable power alternative for Coca Cola Consolidated's high-throughput operations.

"Coca-Cola Consolidated's acceptance of Plug Power's GenDrive fuel cell solution again emphasizes the commercial readiness of this product for the material handing market," said Tom Hoying, Vice President of Sales for Plug Power Inc. "Plug Power was able to provide this significant customer with a proven solution allowing them to lower operating costs and greenhouse gas emissions without sacrificing productivity."

About Plug Power Inc.

Plug Power Inc. (Nasdaq:PLUG), an established leader in the development and deployment of clean, reliable energy solutions, integrates fuel cell technology into motive and continuous 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.

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, 2008, filed with the Securities and Exchange Commission ("SEC") on March 16, 2009, 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.

The Plug Power Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4446

CONTACT:  Plug Power Inc.
          Media Contact: 
          Katrina Fritz Intwala
            (518) 782-7700 ext. 1360
          Investor Relations Contact:
          Cathy Yudzevich
            (518) 782-7700 ext. 1448



Other Company Press Releases

Stock Quote
Symbol: PLUG
Last Trade: 0.822 (11/20/2009 ET)
Change: -0.0273 (-3.2144%)
Day's Range: 0.82 - 0.84
Open: 0.82
Previous Close: 0.8493
TSO: 129,560,000
Market Cap: 106.50M
Day's Volume: 195,351

Related News

Blogging/Bookmarking