QualityStocks'  Instablog

QualityStocks
Send Message
QualityStocks (www.qualitystocks.net) assists publicly traded companies by getting their story out to the investment community while helping investors discover emerging companies with plenty of growth potential. Our name, QualityStocks, emphasizes our commitment to connect subscribers with... More
My company:
QualityStocks
My blog:
QualityStocks Micro-Cap and Small-Cap Blog
  • Plug Power Inc. (PLUG) Receives Funding From NYSERDA To Demonstrate Viability Of Using Fuel Cells For Delivery Of Perishables 0 comments
    Nov 13, 2013 5:57 PM | about stocks: PLUG

    Plug Power, an innovative supplier of cost-effective power solutions that increase productivity, lower operating costs, and reduce carbon footprints in the material handling industry, has received funding to reveal the viability of substituting hydrogen fuel cells for diesel generators in transport refrigeration units (TRUs) on trailers that deliver perishable goods. The funding will be supplied by the New York State Energy Research and Development Authority (NYSERDA).

    NYSERDA selected Plug Power to develop a fuel cell based on its GenDrive® fuel cell architecture, as well as the hardware to connect the cell to refrigeration unit equipment. To verify the effectiveness of the system, the Plug Power TRU fuel cell will undergo a field test by powering a Carrier Transicold refrigeration unit for the Sysco Corp. distribution center in Long Island, NY, for 12 months. Air Products will supply the hydrogen for the test.

    Successful completion of this trial is expected to open the door to hydrogen fuel cell expansion into the refrigerated transport market - employing clean energy to regulate cold temperatures for fresh and frozen foods, such as produce, dairy products, meats, ice cream, and other items while enroute to grocery warehouses, distribution centers, and retail destinations.

    Of the 300,000 TRUs currently in use across the U.S. today, a large majority are diesel powered, an expensive and environmentally hazardous option due to the emission of particulate matter and nitrogen oxides. Over a single day, a typical TRU can consume about 10 gallons of diesel and emit 101 kg of carbon dioxide (CO2) in the process. Conversely, the Plug Power hydrogen fuel cells have zero CO2 emissions; rather the only discharges from the system are small amounts of heat and water.

    Plug Power received $500,000 from NYSERDA to pursue this demonstration project.

    "The NYSERDA opportunity is crucial to Plug Power, as we move forward with development of fuel cell solutions for TRU deployments," said Andy Marsh, CEO of Plug Power. "Along with a similar, recently announced TRU project funded by the U.S. Dept. of Energy, this contract enables us to execute on our strategy to implement hydrogen fuel cells in markets adjacent to the material transport industry."

    Transportation in the United States is responsible for 75 percent of the country's oil use, resulting in 40 percent of the greenhouse gas emissions produced.

    Plug Power recently announced it had also won a $650,000 contract from the Pacific Northwest National Laboratories via the Dept. of Energy to develop fuel cells for the TRU market.

    For further information, please visit plugpower.com

    QualityStocks provides investor relations services to publicly traded companies in exchange for compensation. This article may be part of our efforts to widen a client's exposure. To read our full disclaimer, visit http://disclaimer.qualitystocks.net

    Stocks: PLUG
Back To QualityStocks' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.