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Plug Power

Headquarters: 968 Albany-Shaker Road
Latham, NY 12110
Employees: 300
CEO: Andy Marsh
Stock Symbol: PLUG


Career Site

Plug Power has revolutionized the material handling industry with cost-effective power solutions that increase productivity, lower operating costs and reduce carbon footprints. Plug Power’s GenDrive fuel cell is a superior alternative to lead-acid batteries for electric lift trucks in the $20 billion global material handling market.

Plug Power enters 2012 with a backlog of more than 1,900 GenDrive units representing approximately $36.0 million in revenue.

In 2011, the company had revenues of $27.6 million and net loss of $27.5 million. The company has never turned a profit.

Plug Power now has more than 2,000 GenDrive fuel cell units deployed at live customer sites.

The 2011 orders include:
· First time customers in North America: Associated Wholesale Grocers , Proctor and Gamble and Kroger;

· Repeat customers in North America: Walmart Canada, Walmart USA, Sysco, Coca-Cola, Wegmans and BMW; and
· Global expansion into Europe: Air Liquide, who received Plug Power’s first CE-certified products.


Plug Power was founded in 1995 as a joint venture between DTE Energy, parent of Detroit Edison (Michigan's largest electric utility) and Mechanical Technology Inc., an early developer of fuel cells.

In 2007, Plug Power acquired General Hydrogen., a private company providing fuel cell power solutions to the material handling market. It also acquired Cellex Power Products Inc., a private company and a leader in providing fuel cell power solutions to lift trucks and other material handling equipment.


Plug Power offers a competitive compensation and benefits package, including 401(k) and stock options.

Updated March 31, 2012


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