Andy Marsh, the President and CEO of Plug Power (PLUG), Interviews with the Wall Street Transcript
67 WALL STREET, New York - February 14, 2014 - The Wall Street Transcript has just published its Alternative Energy & Utilities Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Outlook for Biofuels and Biochemicals - Asia Pacific Demand for Solar Energy - Grid Parity Timelines for Alternative Energy - Solar Energy Pricing - Government Subsidies and Regulation - Solar Growth Drivers and Headwinds - Regulatory Headwinds for U.S. Utilities
Companies include: Plug Power Inc. (PLUG)
In the following excerpt from the Alternative Energy & Utilities Report, the President and CEO of Plug Power discusses the outlook for his company for investors:
TWST: By way of introduction, who are your customers, and how do they use your products?
Mr. Marsh: Plug Power sells fuel cells, which power forklift trucks. And that's what I've told you over the last three, four years, but the business has really expanded over the past six months where today we actually sell full turnkey solutions for distribution centers and manufacturers, which include the hydrogen infrastructure, hydrogen, the fuel cell power for forklift trucks, as well as a service for that equipment. Our customers include people like Wal-Mart (WMT); Sysco (SYY), the international food distributor; BMW (BMW.F); Mercedes; and Kroger (KR), just to name a few.
TWST: Can you tell us a little bit about your strategic thinking behind taking the business in the direction of the turnkey solutions?
Mr. Marsh: I'm a pretty simple guy. Customers like Wal-Mart and Kroger came to us and said that it would be much simpler for them, since we've already been involved in 45 deployments, if Plug Power would take over the complete responsibility for the deployment. GenKey would reduce their administrative load, provide them a single point of contact and really enable them to work with the company that knows how to execute on a program as they change their systems from batteries or from diesel-powered forklift trucks to hydrogen-powered forklift trucks. It was really driven by customers, and that's really why we had such great success in the fourth quarter, and we are able to book over $32 million in revenue with people like Kroger, who signed up for our turnkey deal.
TWST: As you look to the future, which of your products will be the biggest drivers for growth and in which customer markets will you focus your efforts?
Mr. Marsh: Our main focus is large throughput food distribution centers and manufacturing areas in the material-handling arena. And for the near term
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
