{"id":4941,"date":"2019-10-08T08:00:08","date_gmt":"2019-10-08T12:00:08","guid":{"rendered":"https:\/\/plugpower.local\/?p=4941"},"modified":"2019-10-08T08:00:08","modified_gmt":"2019-10-08T12:00:08","slug":"hydrogen-fuel-cell-day-a-look-back-at-the-plug-symposium","status":"publish","type":"post","link":"https:\/\/www.plugpower.com\/hydrogen-fuel-cell-day-a-look-back-at-the-plug-symposium\/","title":{"rendered":"Hydrogen Fuel Cell Day: A Look Back at the Plug Symposium"},"content":{"rendered":"

Hydrogen Fuel Cell Day is upon jackpot party casino reviews us, and it\u2019s one of our favorite days of the year. To mark the occasion, we\u2019re taking a look back at our <\/span>first annual Plug Symposium<\/span><\/a>, jackpot party casino game which took place in September. Plug Power has seen tremendous growth in 2019, and the Plug Symposium provided the perfect opportunity to demonstrate that growth jackpot party casino free coins for our friends and partners.\u00a0<\/span><\/p>\n

\"Plug<\/a><\/p>\n

High points from the event include Plug Power CEO Andy Marsh taking the stage to unveil our plan to <\/span>move towards $1 billion in yearly revenue<\/span><\/a> by 2024. We also announced a global <\/span>partnership<\/span><\/a> with ENGIE, as well as the\u00a0 <\/span>signing of a major agreement<\/span><\/a> with United Hydrogen. Needless to say, it was a busy week! For those of you who weren\u2019t able to attend, below are some of the highlights from the Plug Power team during the Symposium:<\/span><\/p>\n

Andy Marsh (CEO), on Plug Power\u2019s successes<\/b><\/p>\n

\u201cWe have 28,000 units deployed that have operated over 270 million hours. . . . We\u2019ve driven a billion miles. We\u2019ve been on the road a great deal of the time. We\u2019ve built over 80 hydrogen stations, done 22 million fuelings with our products, more than anyone else in the world. And every day we use 22 tons of hydrogen. That\u2019s more liquid hydrogen than NASA uses.\u201d<\/span><\/i><\/p>\n

Andy Marsh (CEO), on Plug Power\u2019s reach<\/b><\/p>\n

\u201cIf your car was built in Spartanburg, South Carolina with BMW or in Fayette, Alabama with Mercedes, or Chattanooga, Tennessee with Volkswagen, or Spring Valley, Tennessee with GM, it probably was touched by a Plug Power fuel cell.\u201d<\/span><\/i><\/p>\n

Andy Marsh (CEO), on the economics of fuel cell adoption<\/b><\/p>\n

\u201cAs you put more vehicles in your fleet, the costs per vehicle for fuel cell electric vehicles continue to decline, while electric vehicles remain the same and sometimes increases. So, there is a strong value proposition for fuel cell electric vehicles for commercial applications. And long term, we believe this will be a $300 billion opportunity between our material handling, our stationery, and the long-term transportation market. And I think we demonstrate [the latter] with DHL. We\u2019ll be putting 100 vehicles on the road with StreetScooter and DHL next year.\u201d<\/span><\/i><\/p>\n

Jose Luis Crespo (VP of Global Sales), on opportunities in the material handling market<\/b><\/p>\n

\u201cWith $30 billion in global total available market, more than 6 million forklifts deployed globally that we can retrofit, and more than 1.5 million forklifts sold annually just in 2018, we have a tremendous opportunity for growth in front of us. In that light, our plans to deploy 25,000 forklifts annually in 2024 and $750 million in revenue are very achievable.\u201d<\/span><\/i><\/p>\n

Keith Schmid (COO), on new markets for Plug Power<\/b><\/p>\n

\u201cEven more exciting\u2014and certainly most exciting to me\u2014is leveraging our capabilities, this platform that we\u2019ve built, into new markets… We\u2019re moving into on-road vehicles, port applications, and large scale stationary. In all three of these markets, we have social trends and regulations that are driving large customers to actively seek a greener footprint. And that\u2019s accelerating the adoption of zero emission technologies across the board. The addition of these new markets for Plug Power represents a ten-fold increase in our overall market opportunity, from $30 billion to $300 [billion].\u201d<\/span><\/i><\/p>\n

Tim Cortes (VP of Hydrogen Energy Systems), on scaling to meet hydrogen demand<\/b><\/p>\n

\u201cThe metrics . . . clearly show that we\u2019ve been able to scale our engineering, our deployment, and our operations of our hydrogen business . . . and it\u2019s become a key enabler for the growth of our fuel cell sales.\u201d<\/span><\/i><\/p>\n

\u201cIn that time, we have seen 10X growth and almost 200 percent annual growth rate for hydrogen. So, our fuel cell electric vehicle growth within the next five years will definitely drive a demand for dramatic increases in the number of fueling stations and hydrogen consumed. Based on the growth plans . . . we\u2019re projecting that the number of fueling stations will grow more than 6X and the amount of hydrogen needed and the demand will be more than 4X over what we see today. . . . Hydrogen will be a large portion of our growing business.\u201d<\/span><\/i><\/p>\n

Paul Middleton (CFO) on macro trends that are driving hydrogen fuel cell adoption<\/b><\/p>\n

\u201cTo achieve the growth we are forecasting, there\u2019s really two fundamental factors. . . . there\u2019s an increasing focus to move to green power solutions and the total cost of ownership is coming down, which makes the commercial proposition increasingly compelling. In addition, in many cases, fuel cells address unmet customer needs, given the focus on increasing asset utilization and speed of throughput.\u201d<\/span><\/i><\/p>\n

\u201cThe growing social maturation around the globe [is] facilitating adoption of better environmental solutions. This is reflected in new regulations emerging around the world to curtail emissions. These trends are coupled with an increasing number of participants and overall investments being made into the hydrogen economy.\u201d<\/span><\/i><\/p>\n

\u201cAnd, when you consider all these factors in conjunction with the growing customer needs that are not being met, like other disruptive technologies, fuel cells will become an everyday part of our life and in many cases, it\u2019s a neighbor that will drive other disruptive technologies, like driverless transportation, automated delivery vehicles, and drone applications. These new modes of transportation and mobility are happening now and will only accelerate.\u201d<\/span><\/i><\/p>\n

Sanjay Shrestha (CSO) on Plug Power\u2019s unparalleled market experience<\/b><\/p>\n

\u201cSeventy percent reduction in cost in the last ten years. Fifty percent improvement in reliability since the last five years. Ten [times] increase in revenue since 2011, based on the guidance that Paul just talked about. We have become the largest buyer of liquid hydrogen in the world and we have accumulated over 1 billion miles of field data. Nobody, I think, in the industry can say that. That is a lot of know-how, a lot of experience that allows us to go from one market to the next and I think our growth is somewhat unlimited in terms of where we can take it, and we have the largest fleet of the fuel cell system and associated hydrogen infrastructure and we\u2019ve been fortunate to create the first market for the fuel cell industry and delivering rapid growth.\u201d<\/span><\/i><\/p>\n

As you can see, at Plug Power, we believe the sky\u2019s the limit for the industry, and we\u2019re all-in to make it happen. Follow along on <\/span>Twitter<\/span><\/a> for all the latest\u2014including breaking news, Hydrogen Fuel Cell Day (and Week!) content, and more.\u00a0<\/span><\/p>\n

#InfiniteDrive<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Hydrogen Fuel Cell Day is upon jackpot party casino reviews us, and it\u2019s one of our favorite days of the year. To mark the occasion, we\u2019re taking a look back at our first annual Plug Symposium, jackpot party casino game which took place in September. Plug Power has seen tremendous growth in 2019, and the Plug Symposium provided the perfect opportunity to demonstrate ...<\/p>\n","protected":false},"author":18,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[2],"tags":[],"yst_prominent_words":[367,1812,1811,1332,1330,218,210,752,1329,1327,219,209,215,1815,1818,1814,1817,1813,1816,167],"class_list":["post-4941","post","type-post","status-publish","format-standard","hentry","category-blog"],"acf":[],"aioseo_notices":[],"yoast_head":"\nHydrogen Fuel Cell Day: A Look Back at the Plug Symposium - Plug Power<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.plugpower.com\/hydrogen-fuel-cell-day-a-look-back-at-the-plug-symposium\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hydrogen Fuel Cell Day: A Look Back at the Plug Symposium - Plug Power\" \/>\n<meta property=\"og:description\" content=\"Hydrogen Fuel Cell Day is upon us, and it\u2019s one of our favorite days of the year. 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