Boston, MA 02/11/2014 (wallstreetpr) – Plug Power Inc. (NASDAQ:PLUG) which is an energy technology provider that designs and develops fuel cell systems responded well in the market after announcing it had won a significant Genkey Contract. The deal will involve it rolling out its turnkey hydrogen fuel system to six North America distribution centers in a two year period.
This deal essentially positions Plug Power as the ideal global proton exchange membrane in the fuel cell system industry. The company has continued to earn trust from consumer building its reputation overtime through its advanced expertise and know how. The deal with GenKey will involve the supply of up to 1,500 GenDrive PEM fuel cell power units combined with yearly contracts with GenFuel hydrogen
Plug Power Inc. (NASDAQ:PLUG) will begin operating in one of the site as early as the second quarter but has not disclosed terms of the agreed deal. Plug power CEO Andy Marsh praised the deal as a positive step going forward for the company.he was quoted as saying “GenKey accelerates the transition to GenDrive fuel cells and enables rapid fleet conversion. This allows customers to swiftly realize the advantages of increased productivity and improved environmental benefits”.
Plug Power Inc. (NASDAQ:PLUG) has continued over time without failure to demonstrate its strengths in the leadership sector as the leader in the provision of industrial fuel cell solutions. The company future strategy is to try and venture more into other vehicle applications such as transport refrigeration units, ground support equipment as well as range extenders. Plug Power currently boosts of over 4,500 Gen drive units that are distributed among leading American handling operators such as Walmart.
At the back of the announcement of the GenKey order, Plug Power Inc. (NASDAQ:PLUG)’s stock received the best reception it could have yearned for, as it rose by 14.52 % to close the day at $3.55
