Plug Power receives $172m order

Plug Power has received an order valued at more than $172m for its GenDrive fuel cell power, GenFuel hydrogen fuel, storage and dispending infrastructure, and GenCare aftermarket service and support.

The New York-based manufacturer of hydrogen fuel cell systems received the order from a customer featured on the Fortune 100 list, a list which highlights the top 100 companies in the United States.

“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,” said Andy Marsh, Plug Power’s CEO.

“Coupling this growth with already unfolding market expansion in stationary power and on-road electric vehicles well positions Plug Power to achieve our $1bn gross billing goal for 2024.”

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