Plug Power Inc. (PLUG) announced today that IST Holdings (PTY) Ltd. (IST) has issued a purchase order for 80 of the Company’s GenCore backup fuel cell systems. The 80 GenCore systems are the first of 400 Plug Power fuel cell systems expected to be installed during the next three years under a $3 million International Finance Corporation fuel cell financing initiative awarded to Plug Power and IST earlier today.
South Africa generates two-thirds of Africa’s electricity, and 40 percent of the continent’s phones are located in that country. Working with Plug Power, IST will import, distribute, install and support the GenCore fuel cell systems at urban and rural sites throughout South Africa.
IST operates throughout Africa’s southern countries and sees the supply of fuel cells in South Africa under the IFC program as a logical step to introducing fuel cells and perhaps other renewable energy projects, including wind and solar, across the African continent.
About GenCore
The GenCore product line includes backup power products for the telecommunication, uninterruptible power supply and electric utility markets. The hydrogen-fueled GenCore 5-kilowatt backup fuel cell system is available in seven configurations to serve the needs of these applications.
About IST
IST was founded in 1980 to apply advanced integrated technologies in the provision of sophisticated engineered systems and solutions to industrial markets. For more information, visit www.istltd.com.
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