Executive Briefings

Plug Power Forms Capital Financing Arm for Third-Party Leases

Plug Power Inc. has formed Plug Power Capital Inc., a capital-financial arm that will offer the program known as GenFund, to provide customers with access to third-party leases.

Through GenFund, Plug Power Capital will work with customers and commercial banks, facilitating project funding for the purchase of Plug Power hydrogen and fuel-cell technology. Plug Power's GenKey offering combines the elements for a full hydrogen and fuel-cell deployment, including GenDrive or ReliOn fuel cell power, GenFuel hydrogen and fueling infrastructure, and GenCare aftermarket support. With the new services, GenFund will expedite deal closure. It will be offered to both material-handling and stationary customers through GenKey, and will also be available on an individual-case basis, to assist other non-GenKey customers.

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Through GenFund, Plug Power Capital will work with customers and commercial banks, facilitating project funding for the purchase of Plug Power hydrogen and fuel-cell technology. Plug Power's GenKey offering combines the elements for a full hydrogen and fuel-cell deployment, including GenDrive or ReliOn fuel cell power, GenFuel hydrogen and fueling infrastructure, and GenCare aftermarket support. With the new services, GenFund will expedite deal closure. It will be offered to both material-handling and stationary customers through GenKey, and will also be available on an individual-case basis, to assist other non-GenKey customers.

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