Plug Power Inc. (NASDAQ: PLUG), a leading provider of hydrogen engines and fueling solutions enabling e-mobility, is supplying Walmart, its first multi-site GenKey hydrogen and fuel cell customer, with sustainable solutions for use in its eCommerce network.
Plug Power has provided GenKey hydrogen and fuel cell solutions to Walmart, a leader in deploying hydrogen fuel cell technology in electric vehicles, since 2010 for its material handling fleet.
-- Plug Power supports more than 9,500 GenDrive fuel cell-powered vehicles used by Walmart at 37 distribution centers across North America.
-- Plug Power began expansion of hydrogen and fuel cell solutions into Walmart's eCommerce network, with the first deployments in August of 2020 and additional expansion planned in 2021.
-- Flexibility, scalability, and the benefits of fast fueling make GenKey hydrogen and fuel cell solutions uniquely suited to the rapid growth and peak demands of eCommerce applications.
Plug Power products consistently operate in Walmart's material handling fleet at 99% uptime with constant power performance. During the pandemic, Plug Power's products have enabled leading retailers like Walmart to fulfill increased demand from customers at a rapid pace.
Plug Power's ProGen and GenDrive fuel cell solutions are used to power a variety of logistics vehicles for a variety of customers including material handling trucks, tuggers, automated guided vehicles, airport ground support equipment, and commercial fleet vehicles (class 3-8) for middle and last mile delivery applications.
"Walmart is one of our foundational customers, with our relationship rooted in trust and results as we work toward a more sustainable future together," said Andy Marsh, Plug Power CEO. "This application expansion signifies the next step in our relationship as we support Walmart in their scaling eCommerce business while helping them meet the operational goals important to both Walmart and consumers."
"The challenges this year have increased demand on leading brands providing necessary goods and services to customers. At our distribution facilities across the country, our decision to be an early adopter of Plug Power's hydrogen fuel cells has helped us manage and meet the increased demand for food and basic supplies," said Jeff Smith, Senior Director Walmart Supply Chain. "This is why we're excited to expand Plug Power's proven solutions into our eCommerce network in 2021."
About Plug Power
Plug Power is building the hydrogen economy as the leading provider of comprehensive hydrogen fuel cell (HFC) turnkey solutions. The Company's innovative technology powers electric motors with hydrogen fuel cells amid an ongoing paradigm shift in the power, energy, and transportation industries to address climate change and energy security, while providing efficiency gains and meeting sustainability goals.
Plug Power created the first commercially viable market for hydrogen fuel cell (HFC) technology. As a result, the Company has deployed over 38,000 fuel cell systems for e-mobility, more than anyone else in the world, and has become the largest buyer of liquid hydrogen, having built and operated a hydrogen highway across North America. Plug Power delivers a significant value proposition to end-customers, including meaningful environmental benefits, efficiency gains, fast fueling, and lower operational costs.
Plug Power's vertically integrated GenKey solution ties together all critical elements to power, fuel, and provide service to customers such as Amazon, BMW, The Southern Company, Carrefour, and Walmart. The Company is now leveraging its know-how, modular product architecture and foundational customers to rapidly expand into other key markets including zero-emission on-road vehicles, robotics, and data centers.
Safe Harbor Statement
This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties about Plug Power Inc.("PLUG"), including but not limited to statements about PLUG's expectations regarding its multi-year investment and growth , PLUG's clean hydrogen technology and fuel cell solutions playing a critical role in achieving climate and decarbonization goals, deepening of relationships with key stakeholders, and acceleration of demand and adoption of hydrogen technology . You are cautioned that such statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times that, or by which, such performance or results will have been achieved. Such statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in these statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of PLUG in general, see PLUG's public filings with the Securities and Exchange Commission, including the "Risk Factors" section of PLUG's Annual Report on Form 10-K for the year ended December 31, 2019 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020 and September 30, 2020. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made as of the date hereof, and PLUG undertakes no obligation to update such statements as a result of new information.
The Bulleit Group