May 21, 2015
The Plug POWERTrip – our six-city investor road show – spent the day in the Big Apple. With stage and products set up inside the InterContinental Times Square in New York, NY, we welcomed investors to our annual meeting and the second stop on our tour.
CEO Andy Marsh kicked off his presentation saying, “This is the only time I’ll get to say this. Live from New York!” It’s not Saturday Night Live, but it IS the Plug POWERTrip. Andy went on to highlight Uline, Inc. as a new GenKey customer. Uline, a family-owned business, is the leading distributor of shipping, industrial and packaging materials to businesses throughout North America, offering more than 30,000 products. The initial deployment of GenDrive units will be powering the forklift fleet at one of Uline’s distribution centers in Pleasant Prairie, WI. Additionally, Uline will deploy a second fleet of GenDrive-powered lift trucks into a newly constructed facility in the coming months. Uline distributes from twelve branches located across the US, Canada and Mexico. Read about our new customer here: http://www.ir.plugpower.com/news.
Andy rounded out his presentation with an overview of Plug Power’s 2015 strategic goals, as well as a discussion of several recent successes, before turning the stage over to Chief Financial Officer, Paul Middleton.
Paul discussed the Company’s financial strategy to grow the business by 50% in 2015 and into a $500M business in three to five years. He began by asking the audience to visualize the annual meeting in 2020, with Plug Power as a company earning well in excess of $500M in revenue. He then went on to talk about how we plan to get there.
Paul ended his presentation saying, “Our story has been a bit of a nail biter. It’s exciting to see glimpses of how it’s going to turn out. We look forward to meeting you all here in 2020 to celebrate how we have achieved our goals.”
Following management presentations, the floor was open for a robust Q&A session and we were not disappointed by the questions from our investors and analysts. Some of the questions included whether we see ourselves providing hydrogen for cars (it’s a possibility as we grow our hydrogen network), whether we have the capacity to meet our customers’ needs for fuel cells (yes for today and into the future) and whether there has been any interest in GenDrives for autonomous material handling equipment (yes, we’re already doing it with customers including Bridgestone). We were also asked to speak about the challenges of serving small customer sites with less than 50 forklifts in their fleets and about how we ensure future sales to current customers. For the answers to those, you’ll have to listen to the webcast replay linked below.
Next, we’ll be flying across country to meet with investors in San Francisco, CA on Wednesday, May 27th. Our road crew will be making the drive across the country in the Plug POWERTrip truck! If you see us, snap a photo and post it to our Facebook page and we’ll send you a Plug Power travel mug.