LATHAM, N.Y., April 9, 2009 (GLOBE NEWSWIRE) -- Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean, reliable energy solutions, announced today that Nestle Waters North America has installed 32 GenDrive(TM) hydrogen fuel cells, purchased in 2008, to use at their Dallas, Texas bottling facility. As a result, Nestle Waters has converted its entire fleet of sit down counterbalanced lift trucks from internal combustion (IC) engines powered by liquid petroleum gas to Yale(R) class I electric lift trucks powered by GenDrive power units.
Rising fuel costs coupled with high greenhouse gas emissions have companies searching for alternative solutions to internal combustion engines. Electric lift trucks powered by GenDrive units provide a cost effective alternative to traditional power sources.
Nestle Waters evaluated both hydrogen fuel cells and lead acid batteries as potential replacements for their current fuel source. In the end, Plug Power's GenDrive allowed them to make the full site conversion without incurring heavy labor and equipment costs associated with buying, storing, maintaining and changing batteries. They have lower operational costs than the incumbent technologies and allow for increased worker productivity.
"Nestle Waters assessed all their IC engine replacement options and found that the GenDrive fuel cell solution was less expensive than investing in lead acid batteries and costly battery equipment," said Tony Troutt, Director of Sales at Plug Power. "Fuel cells were also found to be more efficient. Most importantly, converting their fleet to hydrogen fuel cells allows Nestle Waters to eliminate exhaust emission issues, ultimately creating an improved working environment for their employees as well as a reduced carbon footprint."
Air Products (NYSE:APD), a global leader in hydrogen fueling and infrastructure, provides the hydrogen and infrastructure to power the GenDrive units. The fueling infrastructure consists of an outdoor liquid hydrogen storage and compression system, as well as multiple indoor fueling dispensers for operator refueling. The GenDrive power units can be quickly refueled by the lift truck operator in less than 5 minutes, completely eliminating lead acid batteries and the related charging and storing infrastructure.
About Plug Power Inc.
Plug Power Inc. (Nasdaq:PLUG), an established leader in the development and deployment of clean, reliable energy solutions, integrates fuel cell technology into motive, continuous and backup power products. The Company is actively engaged with private and public customers in targeted markets throughout the world. For more information about how to join Plug Power's energy revolution as an investor, customer, supplier or strategic partner, please visit www.plugpower.com.
The Plug Power Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4446
About Nestle Waters
Central to the leadership of Nestle Waters North America Inc. is its 33-year experience and single-focus on producing bottled water products.
The company's dedication to product quality control, manufacturing expertise, employee development and environmental stewardship, especially in the areas of water use, energy and packaging, has led Nestle Waters to the number one bottled water position in the U.S.
Simply said, to reach success the company follows its credo: Respect for each other, respect for the environment and respect for the community.
Founded in 1976, Nestle Waters North America is noted for having seven of the top ten bottled water brands sold in the U.S. The nation's number one ranked bottled water brand is Nestle(R) Pure Life(R) Purified Water which is available nationally. Other market-leading regional domestic brands include Poland Spring(R), Arrowhead(R), Ozarka(R), Deer Park(R), Zephyrhills(R), and Ice Mountain(R). Rounding out the company's portfolio of bottled water brands are popular imports such as Perrier(R), Contrex(R), Acqua Panna(R) and S.Pellegrino(R).
Nestle Waters North America Inc., with 8,400 employees, is based in Greenwich, Connecticut. It is a corporate affiliate of Nestle S.A., of Switzerland.
Please visit www.nestlewatersnorthamerica.com for more information.
About Air Products
Air Products (NYSE:APD) serves customers in industrial, energy, technology and healthcare markets worldwide with a unique portfolio of atmospheric gases, process and specialty gases, performance materials, and equipment and services. Founded in 1940, Air Products has built leading positions in key growth markets such as semiconductor materials, refinery hydrogen, home healthcare services, natural gas liquefaction, and advanced coatings and adhesives. The company is recognized for its innovative culture, operational excellence and commitment to safety and the environment. Air Products has annual revenues of over $10 billion, operations in over 40 countries, and 21,000 employees around the globe. For more information, visit www.airproducts.com.
About Yale Materials Handling Corporation
Yale Materials Handling Corporation markets a full line of material handling lift truck products and services, including electric, gas, LP-gas and diesel powered lift trucks; narrow aisle, very narrow aisle and motorized hand trucks. Yale offers comprehensive Fleet Management services, as well as Yale(r) service, parts, financing and training. Yale(r) trucks are manufactured in an ISO 9001:2000 registered facility and range in capacity from 2,000 to 36,000 pounds. For more information, or to find the Yale(r) lift truck dealer nearest you, call 1-800-233-YALE or visit www.yale.com.
Plug Power Inc. Safe Harbor Statement
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to statements regarding our growth plan. We believe that it is important to communicate our future expectations to our investors. However, there may be events in the future that we are not able to accurately predict or control and that may cause our actual results to differ materially from the expectations we describe in our forward-looking statements, including, without limitation, the risk that unit orders will not ship, be installed and/or convert to revenue, in whole or in part; Plug Power's ability to develop commercially viable energy products; the cost and timing of developing Plug Power's energy products; market acceptance of Plug Power's energy products; Plug Power's ability to manufacture energy products on a large-scale commercial basis; competitive factors, such as price competition and competition from other traditional and alternative energy companies; the cost and availability of components and parts for Plug Power's energy products; Plug Power's ability to establish relationships with third parties with respect to product development, manufacturing, distribution and servicing and the supply of key product components; the cost and availability of fuel and fueling infrastructures for Plug Power's energy products; Plug Power's ability to protect its Intellectual Property; Plug Power's ability to lower the cost of its energy products and demonstrate their reliability; the cost of complying with current and future governmental regulations; the impact of deregulation and restructuring of the electric utility industry on demand for Plug Power's energy products; and other risks and uncertainties discussed under "Item IA-Risk Factors" in Plug Power's annual report on Form 10-K for the fiscal year ended December 31, 2008, filed with the Securities and Exchange Commission ("SEC") on March 16, 2009, and the reports Plug Power files from time to time with the SEC. Plug Power does not intend to and undertakes no duty to update the information contained in this communication.