Boston, MA 09/24/2014 (wallstreetpr) – Past few quarters have not been good for Plug Power Inc (NASDAQ:PLUG) in terms of revenues. It has forced the management to take a few innovative decisions to take the revenues back on track. Among the series of events that the management of PLUG organized, it announced that the new financing packaging deal of the company with M&T Bank would surely surge its revenues.
Insights of packaging deal:
As per the information given by the management of PLUG, it has entered into a financial packaging agreement with M&T Bank. The main objective of Plug Power Inc (NASDAQ:PLUG) behind this agreement is nothing but to serve customers in an attractive way. With the help of the new deal with M&T Bank, it will be able to offer various financing offers to those customers who look for refueling stations, purchasing fuel cells and service agreement. It’s the first time when the company has come up with such attractive offer.
PLUG is known for producing effective hydrogen fuel cells that are used by various retailers and manufacturers to power forklifts in distribution center and large warehouses. One of the spokesmen of Plug Power Inc (NASDAQ:PLUG) said that partnership deal with M&T Bank is a part of numerous initiatives that the company is looking forward to taking to bolster its revenues. Andy Marsh, Chief Executive Officer of PLUG in Latham, New York said that this deal would help a lot of customers to execute their work easily. He further added that those customers who wanted to switch from battery and diesel powered equipments to the ones powered by hydrogen fuel cells could avail various attractive financing offers of PLUG. It would neither take much time nor put extra burden on individuals or businesses. Reporters tried to get in touch with the management of M&T Bank, but no one from senior management could be contacted.