Plug Power’s predicted booming final financial quarter, it has been revealed, was accurate after the company announced a series of notable achievements.

The company has announced it has met order targets set for the fourth quarter of 2013. Orders for the fourth quarter of 2013 totaled approximately $32m, and includes contracts with Walmart, Kroger, Procter & Gamble, Bridgestone, BMW, Sysco, Ace Hardware, CVS, Mercedes Benz, Lowes, Stihl, and Coke.

Key highlights associated with Plug Power’s fourth quarter bookings include:

  • A contract to deploy multiple sites with a single food distribution customer using Plug Power’s turnkey GenDrive solution which includes products, service, and hydrogen;
  • Repeat business with key material handling giants like Walmart, Kroger, Mercedes Benz, and BMW, resulting in fleet expansion and follow-on orders. These orders include both products and recurring revenue for service;
  • And, addition of new customers to Plug Power’s growing customer list.

“Plug Power has continued to deliver value to material handling customers through its GenDrive product suite,” said Andy Marsh, CEO at Plug Power.

“Moving forward, as we significantly grow the business, Plug Power will increase its value-add for each customer through building our product base and establishing recurring revenue streams through hydrogen and service. Plug Power has seen significant traction closing out 2013, and we expect the first quarter of 2014 bookings to meet or exceed the fourth quarter of 2013.”

Actual financial results and further overview of customer success will be presented and reviewed on the Company’s fourth quarter and year-end conference call.