Plug Power closes on $30 million loan with San Francisco-based lender

Plug Power^[2] has closed on a $30 million loan facility with Generate Capital, a San Francisco-based lender, according to a regulatory filing.

The funding will support growth in 2016 and help the Latham, New York, fuel cell manufacturer add new customers at a faster rate.

Plug Power (NASDAQ: PLUG) makes GenDrive fuel cells used to power forklifts in large warehouses and distribution centers, for refrigerated trucks and vehicles used to haul luggage at airports. The company also offers hydrogen fueling stations called GenFuel to attract more reoccurring revenue. The full system is called GenKey.

Customers include Wal-Mart, FedEx, BMW^[4] and Nike.

References

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2. ^{^} Plug Power (www.bizjournals.com)
3. ^{^} more (www.bizjournals.com)
4. ^{^} BMW (securepubads.g.doubleclick.net)