Plug Power Inc (PLUG)

[Big daddy wags]

Who's the loser?

LATHAM, N.Y., July 12, 2016 (GLOBE NEWSWIRE) -- Plug Power Inc. (PLUG), a leader in providing energy solutions that change the way the world moves, has received a new purchase order from FM Logistic for use of Plug Power’s GenDrive product in its 90,000 square meter logistics facility in Neuville-aux-Bois, France. Plug Power’s world-class GenDrive fuel cell units will be deployed in FM Logistic’s Toyota Material Handling and Crown pallet jacks and reach trucks.

FM Logistic is a family-run business started in 1967 and is one of the leading logistics providers in the European market. Today’s logistics leaders continuously demand high-quality solutions to become more competitive and to continuously improve its processes and resources to meet and exceed customer’s needs.

Plug Power’s GenDrive fuel cell solution displaces lead-acid batteries in electric lift trucks and enables customers to increase the productivity of its operations, while reducing operational costs. Plug Power has a suite of CE-certified units available for European material handling customers, including units to support pallet, reach, counterbalance trucks, and tow tractors, enabling a full-fleet conversion. Important to FM Logistic, the GenDrive fuel cell solution produces no harmful emissions and eliminates the costs associated with handling and storing toxic materials. Plug Power’s European GenCare team will support the GenDrive-fleet.

“Plug Power continues to add new customer names to our resume and we look forward to helping FM Logistic continue to grow its business through the use of GenDrive fuel cells,” said Andy Marsh, CEO of Plug Power. “Our expanded partnership with FM Logistics further strengthens our value proposition that GenDrive applies not just for our core large distribution center markets, but also in extending to smaller-size distribution centers and to the European logistics operations.”

FM Logistic is an international logistics provider operating in 13 countries including Russia, Brazil, China and India with approximately 60 percent of its revenues coming from other countries than France.