Plug Power Inc. has created Plug Power Capital Inc., a wholly owned subsidiary of Plug Power, formed as a capital financing arm that will offer GenFund, giving customers easy access to third-party leases.
Called GenFund, Plug Power Capital will work with its customers and commercial banks, facilitating project funding for the purchase of Plug Power hydrogen and fuel cell solutions.
Plug Power’s GenKey solution combines all the critical 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.
As the newest element to this equation, GenFund will expedite deal closure, providing yet another aspect of GenKey that makes it a convenient, one-stop source for Plug Power hydrogen and fuel cell implementations. GenFund 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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