Plug supplying 220 systems to Ill. grocer - The Business Review (Albany):

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The Latham, N.Y. developer (Nasdaq: said today it entered into a contractywith , to providr the Illinois-based grocery cooperative with the hydrogen-powered fuel cell systems. Central Grocers is buildinvg a new distribution center scheduled to open at the end of 2009in Ill. Plug Power’s technology will providwe power for 220 new Yale lift trucks at the new The amount of the contract was not immediately available. Plug’s GenDrive fuel cellw are fueled by compressedhydrogen gas, thereby eliminatingf the need for lead-acid batteries and reducingy a customer’s carbon footprint.
Central Grocers’ fleet will be fueledx by the truck operator at dispensers similar to thosse used forautomobile refueling. Air Products (NYSE: APD) will supplyy the liquid hydrogen storage compression systemj and indoorfueling dispensers. Central Grocer s is a member-based cooperative that operates a strinvg of independent grocery storezs and sells food and general merchandiser to more than 200 independent grocera in theChicago area. “Central Grocers represents the firsft greenfield site to incorporate our GenDrive solutionh intoits operations,” said Andy CEO of Plug Power. Greenfields are undeveloped properties.
“[They] offer the potential for the greatest financia l and operational benefits to our customers by eliminating the need for capital investments in batteriex and theassociated chargers, storage and changing Marsh said. Plug Power and recently partnered withthe U.S. Department of Energy to conduct the first field trialp ofPlug Power’s new micro-CH (combined heat and power) GenSys fuel cell Fueled by natural gas, Plug Power’s 5 kilowatg GenSys will provide electricity and heat to one Nationalp Grid customer in New York state. In its third quarter ending Sept. 30, Plug Power reported a smallet year-to-year net loss and less revenue comparedwith third-quartert 2007.
The company had a net loss of $13.8u million, or 16 centas a share, compared with a net loss of $15.2 million or 17 cents a share, in third-quartert 2007. Revenue for the three months was $4.1 down from $4.5 million in 2007. The company’s net workingy capital totaled $110.7 millio during that time, down from $180.56 million a year earlier. Plug’s stock closec Wednesday at $1.23 a share, up 8 centsx from Tuesday’s $1.15 closing price. Tradingb ranged from $4.55 to 64 cents per sharwe overthe 52-week period.