Boston, MA 06/05/2014 (wallstreetpr) – Plug Power Inc (NASDAQ:PLUG) is a leading company that aims to offer alternative energy technology and is mainly focused in designing, developing, commercializing and manufacturing of fuel cell systems so that they can be used in the industry on a large scale. The basic areas dealt by the company are proton exchange membrane (PEM), fuel cells, fuel processing technologies and fuel battery hybrid technologies. According to the company officials, a fuel cell is an electrochemical device that combined oxygen and hydrogen to get electricity and heat as the yield. Best part of this technology is that it is green i.e. no harmful gases are released.
Green Technologies/Fuels Are Very Promising Investments
Plug Power Inc (NASDAQ:PLUG) is advancing in the market at very high pace and is expected to gear up a lot more since green energy is the future of the automotive industry. Hydrogen cars and electricity cars have already seen the light of the market. Fuel cells produce no harmful gases and its intakes are hydrogen and oxygen out which oxygen is very readily available, and hydrogen can be extracted by little efforts from LPG, propane, gasoline, biofuels, methanol, and ethanol and can also be bought from industrial gas providers. Overall, the investment made by Plug Power Inc (NASDAQ:PLUG) in this field today, certainly will lead it to become a global leader of alternate energy technologies tomorrow.
Financial Results
And the results can be seen from its first-quarter results! The total revenue for the first-quarter of this year was $5.6 million. This whole revenue comprised of product revenue, service revenue and research and development revenue. Further, during the first quarter of 2014, PLUG transported 165 units. Further, Plug Power Inc (NASDAQ:PLUG) showed $174 million on its balance sheet which clearly indicates its growth performance and business skills.
