Plug Power Inc (NASDAQ:PLUG) Announced Major Contract And Market Expansion


Dallas, Texas 12/08/2014 (FINANCIALSTRENDS) – Plug Power Inc (NASDAQ:PLUG) recently announced a major, multi-year contract from a leading North American telecommunications provider. The company will provide its ReliOn integrated fuel cell solution and GenFuel hydrogen services under the $20 million program. The company anticipates supporting additional 500 sites utilizing the Plug Power ReliOn integrated solution.

The company’s ReliOn solutions will be used in the customer’s wireless network, which provide public communications network for customers. ReliOn hydrogen fuel cell-based backup power system eliminated the need of generators for backup power applications. It supports the function of communication equipment shelter and backup power system for round the clock operations.

Market Expansion

Plug Power Inc (NASDAQ:PLUG) recently announced its entry into ground support equipment (GSE) market with installation of its first GenFuel hydrogen infrastructure at the Memphis Airport. The installation includes standard hydrogen storage tank, fuel pipelines, compression system and the first GenFuel outdoor hydrogen dispensers.

Plug Power’s outdoor hydrogen dispenser provides an all-weather enclosure to protect the equipment from harsh environment conditions such as snow, rain, direct sun, extreme temperatures and high winds. The fuel cells could operate with at least double the efficiency of diesel engines, even in the harsh conditions.

Plug Power’s GenFuel hydrogen dispensers allow easy refueling in 3-4 minutes. Moreover, fuel cells generate only water and heat as waste byproducts, making tugger zero-emission, EPA Tier 4 compliant vehicle.

About ReliOn Brand

Plug Power Inc (NASDAQ:PLUG)’s ReliOn brand represents the company’s stationary power product line designed for grid-support and backup power requirements of utility, telecommunications, transportation and government sectors. ReliOn solution, with applications ranging from 50W to 20kW, helps eliminating the need for backup generators.

Plug Power currently supplies its ReliOn system across the U.S., Europe, Asia, Africa, Australia and South America. Plug Power’s hydrogen fuel cell technology driven solutions are known for lower operating costs and carbon emission as well as increased productivity.

Subscribe to get your free report!

* indicates required
*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.