Boston, MA 06/27/2014 (wallstreetpr) – Plug Power Inc (NASDAQ:PLUG) on June 26, 2014 announced that the company publically demonstrated the Plug Power GSE fuel cell prototype this week, for the very first time. The demonstration involved Charlatte cargo tractor which pulled 40,000 pounds of heavy weight, which was spread equally on four dollies. This demonstration took place at Plug Power premises and the audience included Charlatte America (GSE manufacturer), FedEx Express (GSE operator and project partner) along with the executives of Plug Power and also the representatives from the Department of Energy.
What is the Plug Power GSE fuel cell prototype?
This is the company’s newly engineered and designed hydrogen fuel cell beta unit which has the capability of empowering ground support equipment (GSE) vehicles which are meant to drag cargo as well as luggage at all the airports in the world. The company, in its blog, said that engineering of something like this indicated that they were a step near the provision of zero-emission power source to these vehicles. GSE vehicles include auxiliary power units, airport tuggers and also the belt loaders.
Plug Power Inc Expansion Strategy
The company said that the demonstration of hydrogen fuel cell beta unit was a crucial step of the expansion strategy of Plug Power Inc (NASDAQ:PLUG). The company is trying to penetrate into the markets which are adjacent to the material handling and also, where the GenDrive fuel cells have already proven the exact worth. The company has planned that in the next phase of this project; there shall be a delivery of 15 Plug Power GSE fuel cells to FedEx at Memphis Airport by the fourth quarter of 2014. Apart from the fuel cell, Plug Power will also offer support to the fleet through its GenFuel services.
Funding of Plug Power GSE fuel cell prototype project development
The U.S. Department of Energy facilitated a $2.5 million grant in order to fund the development project of Plug Power GSE fuel cell prototype. By making use of the hydrogen fuel cells, the GSE vehicle operators will comply with the contracting emissions standards, which at present; need increase in the capital along with operational interruption in fleets that are powered by the diesel fuel type.
