Plug Power Inc. is an American company that specializes in hydrogen fuel cell systems for a variety of applications, including material handling equipment and electric vehicles. The company was founded in 1997 by Andy Marsh and George McNamee and is headquartered in Latham, New York. Plug Power is a publicly traded company and is listed on the Nasdaq stock exchange under the ticker symbol "PLUG."
Plug Power is known for its GenKey solution, which includes fuel cells, hydrogen fueling infrastructure, and maintenance and support services. The GenKey system is designed to provide a complete and integrated solution for customers looking to transition to hydrogen fuel cell technology. It offers improved efficiency, reduced emissions, and increased productivity for material handling operations.
The company's primary focus is on the material handling market, providing fuel cell solutions for forklifts and other industrial vehicles. By replacing traditional lead-acid batteries with hydrogen fuel cells, Plug Power's technology offers faster refueling times, longer runtimes, and lower operational costs for its customers. The company has partnerships with major players in the material handling industry, including Walmart, Amazon, and FedEx.
Plug Power has expanded its product offerings to include solutions for other applications, such as stationary power generation and electric vehicle charging infrastructure. The company aims to be a leader in the development and deployment of hydrogen-based energy solutions, contributing to the global transition toward a more sustainable and clean energy future.