Plug Power Inc. has released a new fuel cell unit, aimed at powering pallet jack electric lift trucks.

The GenDrive 3340 is Plug Power’s next-generation, GenDrive Series 3000 product, and is designed around the company’s air-cooled fuel cell stack. Plug Power claims that the new stack enables a simplified unit design and features greater fuel efficiency, leading to both higher reliability and longer run times.

The GenDrive 3340 provides constant voltage resulting in less wear and tear on the truck’s electronics, reducing the need for service and maximising uptime.

Andy Marsh, CEO of Plug power, said, “Plug Power continues to lead the industry with state-of-the-art products that customers can rely on to drive their business. The GenDrive 3340 offers customers an expanded ability to increase productivity with lower operational costs, and with increased runtime. Customers will see even more efficiency in their operations. It’s also an important move for Plug Power to expand the use of our in-house technology, which improves our product margins.”

Plug Power is currently building the first production units to ship to customers in the fourth quarter of 2015. The units are manufactured in Plug Power’s Latham, New York, facility.

The product launch follows an encouraging Q3 earnings report, which was issued earlier in November. The company recorded revenues of $31.4m during the quarter, and bookings that exceeded $50m.