{"id":4852,"date":"2017-05-10T07:11:28","date_gmt":"2017-05-10T07:11:28","guid":{"rendered":"https:\/\/www.forkliftaccessories.com\/forkliftblog\/?p=4852"},"modified":"2023-11-14T21:19:40","modified_gmt":"2023-11-15T03:19:40","slug":"amazon-buys-a-quarter-of-plug-power","status":"publish","type":"post","link":"https:\/\/www.forkliftaccessories.com\/forkliftblog\/amazon-buys-a-quarter-of-plug-power\/","title":{"rendered":"Amazon Buys a Quarter of Plug Power"},"content":{"rendered":"<p>Ecommerce giant Amazon has announced intentions to purchase 23% of Plug Power, maker of <a href=\"https:\/\/www.forkliftaccessories.com\/forkliftblog\/hydrogen-fuel-cell-forklifts-are-more-universal-than-you-think\/\">hydrogen fuel cells<\/a> for use on vehicles including forklifts.<\/p>\n<div id=\"attachment_4855\" style=\"width: 310px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-4855\" class=\"size-medium wp-image-4855\" src=\"https:\/\/www.forkliftaccessories.com\/wp-backend\/wp-content\/uploads\/2017\/04\/plug-power-1-300x169.jpg\" alt=\"\" width=\"300\" height=\"169\" \/><p id=\"caption-attachment-4855\" class=\"wp-caption-text\">Plug Power&#8217;s GenKey fuel station.<br \/>(Courtesy: Plug Power)<\/p><\/div>\n<p>Amazon plans to equip forklifts at 11 of its fulfillment centers with hydrogen fuel cells and will be supporting them with Plug Power\u2019s GenKey technology, which offers faster charger times, reduced costs and energy efficiency in Amazon\u2019s fulfillment operations.<\/p>\n<p>The agreement with Amazon may be worth as much as $600 million for Plug Power, which is located in Latham, New York. According to MarketWatch, the agreement potentially includes a potentially large equity investment.<\/p>\n<p>According to Bloomberg, Plug Power had never made a profit and was until recently, a penny stock. Amazon\u2019s purchase of fuel cells for forklifts will create $70 million of extra revenue for the company this year. That compares to a total revenue of $56 million in 2016.<\/p>\n<div id=\"attachment_4856\" style=\"width: 310px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-4856\" class=\"size-medium wp-image-4856\" src=\"https:\/\/www.forkliftaccessories.com\/wp-backend\/wp-content\/uploads\/2017\/04\/13935222623_051a877db6_z-300x183.jpg\" alt=\"\" width=\"300\" height=\"183\" \/><p id=\"caption-attachment-4856\" class=\"wp-caption-text\">An Amazon fulfillment center.<br \/>(Courtesy: Cubby Bear Blue at flickr.com)<\/p><\/div>\n<p>Plug Power has lost more than two-thirds of its market value since the first quarter of 2014, when it was valued at more than $1 billion.<\/p>\n<p>Fuel cell makers had been the darlings of Wall Street in 2014 because the technology was expected to be widely adopted in electric vehicles and forklifts. However, the sector lost favor with investors because the technology failed to gain traction. The Amazon deal with Plug Power could rekindle interest in makers of fuel cell.<\/p>\n<p>Currently, Amazon uses battery-powered forklifts. Plug Power\u2019s narrow focus of powering forklifts with fuel cells, essentially makes it the only player in the market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ecommerce giant Amazon has announced intentions to purchase 23% of Plug Power, maker of hydrogen fuel cells for use on vehicles including forklifts. Amazon plans to equip forklifts at 11 of its fulfillment centers with hydrogen fuel cells and will be supporting them with Plug Power\u2019s GenKey technology, which offers faster charger times, reduced costs [&hellip;]<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"image","meta":{"footnotes":""},"categories":[1],"tags":[190],"class_list":["post-4852","post","type-post","status-publish","format-image","hentry","category-uncategorized","tag-forklift","post_format-post-format-image"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Amazon Buys a Quarter of Plug Power - ForkliftAccessories.com Blog<\/title>\n<meta name=\"description\" content=\"Amazon purchases 23% of Plug Power.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.forkliftaccessories.com\/forkliftblog\/amazon-buys-a-quarter-of-plug-power\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Amazon Buys a Quarter of Plug Power - ForkliftAccessories.com Blog\" \/>\n<meta property=\"og:description\" content=\"Amazon purchases 23% of Plug Power.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.forkliftaccessories.com\/forkliftblog\/amazon-buys-a-quarter-of-plug-power\/\" \/>\n<meta property=\"og:site_name\" content=\"ForkliftAccessories.com Blog\" \/>\n<meta property=\"article:published_time\" content=\"2017-05-10T07:11:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-15T03:19:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.forkliftaccessories.com\/wp-backend\/wp-content\/uploads\/2017\/04\/plug-power-1-300x169.jpg\" \/>\n<meta name=\"author\" content=\"Robert J\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ForkliftItems\" \/>\n<meta name=\"twitter:site\" content=\"@ForkliftItems\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Robert J\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.forkliftaccessories.com\/forkliftblog\/amazon-buys-a-quarter-of-plug-power\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.forkliftaccessories.com\/forkliftblog\/amazon-buys-a-quarter-of-plug-power\/\"},\"author\":{\"name\":\"Robert J\",\"@id\":\"https:\/\/www.forkliftaccessories.com\/forkliftblog\/#\/schema\/person\/5b1994f6b28e21a86b7ded8fd1d8a8f2\"},\"headline\":\"Amazon Buys a Quarter of Plug Power\",\"datePublished\":\"2017-05-10T07:11:28+00:00\",\"dateModified\":\"2023-11-15T03:19:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.forkliftaccessories.com\/forkliftblog\/amazon-buys-a-quarter-of-plug-power\/\"},\"wordCount\":282,\"image\":{\"@id\":\"https:\/\/www.forkliftaccessories.com\/forkliftblog\/amazon-buys-a-quarter-of-plug-power\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.forkliftaccessories.com\/wp-backend\/wp-content\/uploads\/2017\/04\/plug-power-1-300x169.jpg\",\"keywords\":[\"forklift\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.forkliftaccessories.com\/forkliftblog\/amazon-buys-a-quarter-of-plug-power\/\",\"url\":\"https:\/\/www.forkliftaccessories.com\/forkliftblog\/amazon-buys-a-quarter-of-plug-power\/\",\"name\":\"Amazon Buys a Quarter of Plug Power - 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