Dallas, Texas 02/24/2014 (FINANCIALSTRENDS) – Plug Power Inc (NASDAQ:PLUG) has been a long time fuel cell maker and is a publicly traded company. Analysts have been positive that this accessory maker will see a turn around on the profits the company will make, later this year. Apparently, the cost cutting has been so effective that the company has moved forward leaps and bounds, which will led to heavier lining of the bottom line by end of 2014. Meanwhile, new orders too are driving the company’s overall higher profit predictions and are valued at $40 million. Another important impetus which analysts see will see higher profits is the recurring revenue. These are largely in the form of service contracts and are expected to see through the period of the contract.
Plug Power Inc(NASDAQ:PLUG) main line of work includes fuel-cell systems which are known to bring higher features for warehouse forklifts. Apparently, global demand for these products are all set to drive higher revenues for the company.
Wins new service sub-contractor
Plug Power Inc(NASDAQ:PLUG) reported further good news. It has reported that it has been contracted by a retail services provider to supply as well as service power units besides fuel to over six distribution centers across the Northern parts of the American continent. In terms of units, the supply will be of 1,500 fuel cells
Plug Power Inc(NASDAQ:PLUG) will see that there is an increase in the number of units which will see the company move into producing these units. The numbers of plants which will engage in these are also in the region of six different plants, across the continent.
Plug Power Inc(NASDAQ:PLUG) is a company operating from Latham, New York city and builds fuel cells for equipment such as forklifts and other materials. The main technology for these fuel cells is proton exchange or what is popularly called as PEM.