Plug Power receives $172 million order from stealthy Fortune 100 company

In New York, Plug Power has received a $172 million order from a Fortune 100 company to deploy fuel cells across its distribution network over the next two years. Plug Power’s CEO hinted at the Fortune 100 company by stating that “The material handling industry remains our core growth market in the near-term. This sizable contract signifies continual market validation to customer’s rapidly moving material handling business thus far.” Ultimately, Plug Power’s turnkey hydrogen and fuel cell solutions are attractive in high utilization environments, where there are distinct advantages as compared to batteries. Plug Power’s customers have reported a 15% productivity increase, as well as a savings of over $1 million per year at sites with approximately 200 fuel cell-powered forklifts.