Plug Power Inc (PLUG) Wins Deals With Federal Express

February 26, 2014

Plug Power Inc (PLUG) CEO Andy Marsh says the company is pursuing opportunities outside of the throughput food distribution centers and manufacturing areas in the material-handling area, which are currently its primary focus areas.

“We also are looking to expand into other offerings, some of them this year. We will be doing deployments with Federal Express at their Memphis Airport where we will be providing fuel cells for ground-support equipment,” Marsh says. “We have another deal for fuel cells with Federal Express in the LA Basin where we will be converting their electric trucks with Smith Electric to hybrid electric trucks using fuel cells to extend the range of those trucks from 80 miles to 160 miles.”


In addition to work with FedEx, Marsh says Plug Power is also doing projects for the New York State Energy Research and Development Authority, the Department of Energy and Sysco.

Plug Power has focus first on a set of fleet vehicles, which are forklift trucks, which are there over six million in the world, but we are expanding that reach into other mobile applications and I believe that you will see in 2015, 2016 those applications will become a good portion of our future revenues,” Marsh says.