Plug Power Inc. (Nasdaq: PLUG) has received a follow-on order from South African distributor, IST Holdings, for 120 of the Company’s GenCore® backup fuel cell systems. “This represents Plug Power’s largest single purchase order to date from an international distributor and is also a resounding testament to our aggressive engagement of the South African market with IST,” said Greg Silvestri, Plug Power’s President.
Plug Power will continue to build on its growing presence in South Africa and is currently participating in the 9th annual GSM 3G Africa conference, a leading Pan-African communication event. Plug Power is exhibiting its GenCore backup fuel cell system, including a new battery free model that utilizes ultracapacitor technology. More than 3,500 attendees, including representatives of Africa’s leading telecommunication and utility companies, are expected to attend the event.
“The ultracapacitor feature allows us to better meet the demands of customers that require reliable on-site backup power in remote regions, where immoderate climates and severe temperatures negatively impact battery life spans and overall performance,” noted Mark Sperry, Plug Power’s Chief Marketing Officer.
In December 2005, the International Finance Corporation (IFC), the private sector arm of the World Bank Group, awarded a $3 million grant to IST and Plug Power to install 400 fuel cells in remote locations and cities throughout South Africa over a three-year period. 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 toward introducing fuel cells and other renewable energy projects across the African continent.
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