Plug Power Inc (NASDAQ:PLUG) Witnesses A 56% Increase In Fuel Storage Runtime In Line With Its New Product

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The stock of Plug Power Inc (NASDAQ:PLUG) closed at $1.78 gaining 0.56% in yesterday’s trading session. This company has moved ahead to unveil its new GenDrive 2440-36R fuel cell system and it says this will have the capacity to store more fuel on-board than the models that were unleashed earlier.

Fundamentally, it will be about boosting the run-time and that will of course be by a margin of almost 56%.That will be cutting down on the customer’s overall fueling time by a figure of almost 30 percent. It is hoped that by the beginning of the third quarter of 2018 the first orders for the GenDrive units will have started shipping to the respective destinations.

But what is it that is most outstanding about the GenDrive fuel cells? It definitely has to do with thee efficient value proposition for electric lift trucks that is attributed with them and that implies that they are much better than the batteries which compels one to keep changing them from time to time. Quite a significant number f people find it boring to keep replacing or charging them the whole day long .And a large section of them will be embracing the news strategy.

The CEO for Plug Power Andy Marsh while moving out of a business conference spoke to several journalists. They wanted him to crack up regarding the latest developments the company was making. He made it clear that they were on course to achieving great success as well as delivering value to the money their customers pay for their top notch products.

He opined, “The electric lift truck market is truly reacting to the impact that hydrogen and fuel cells are having on the longterm material handling solutions for their customers. We see this innovation as a significant sign of further market adoption.”

The electrification of mobility today owes quite much to Plug Power in terms of its overall success. At the moment, about 20,000 have been deployed not forgetting the over 150 million run hours in mobility applications and it goes without saying that the future looks bright.

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