Plug Power Expands In Europe With Carrefour As Customer
Zacks Investment Research | Jul 20, 2016 04:42AM ET
A leading operator in fuel cell technology, Plug Power Inc. (NASDAQ:PLUG) announced that Carrefour (PA:CARR) Group has become a new GenDrive fuel cell customer in Europe. The agreement is in sync with Plug Power’s strategy to increase its fuel cell solution in the continent. GenDrive fuel cells are a smart solution for material handling.
Details of the Agreement
Per the agreement, Carrefour Group will purchase more than 150 GenDrive units to be deployed in STILL-brand class-2 and class-3 electric lift trucks at Carrefour’s brand new distribution center located in Vendin-lès-Béthune, France.
GenDrive units will support Carrefour’s commitment to responsible retailing, including reducing energy consumption by 30% and greenhouse gas emissions by 40% by 2025.
How GenDrive Units Will Work?
GenDrive fuel cell is an excellent alternative to industrial lead-acid batteries in electric class-1, class-2 and class-3 material handling equipment and can provide continuous power to the truck at all times, even in freezer environments as low as -22°F.
GenDrive fuel cell solution replaces the lead-acid batteries in electric lift trucks and enables customers to increase their productivity. In addition, GenDrive fuel cells with lower maintenance costs and practically zero emission could lower operational costs.
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