Plug Power to Enter Large-Scale Backup Power Market, Challenge Bloom Energy

Expanding beyond its core competency, providing fuel cell solutions for material handling equipment, Plug Power (NASDAQ: PLUG) announced today that it will soon compete in the large-scale backup power market with its new GenSure HP (high power) platform. Characterizing it as "a reliable and rapidly deployable solution for power-hungry data centers, energy storage systems, microgrids, and other high power commercial facilities," management expects production of the GenSure HP platform to begin in December with customer deliveries commencing in 2021. With the new offering, Plug Power will become a greater threat to one of its leading fuel cell peers, Bloom Energy (NYSE: BE), which competes in the stationary power market through its Bloom Energy Servers platform.