Plug Power Inc. Joins Industry in Celebrating National Hydrogen and Fuel Cell Day
October 08 2015 - 7:00AM
Today, Plug Power Inc. (NASDAQ:PLUG), a leader in providing clean,
reliable energy solutions, joins the nation in celebrating National
Hydrogen and Fuel Cell Day to raise awareness of commercially
viable fuel cell and hydrogen technologies that allow businesses
and consumers to increase productivity, improve operational
efficiency, reduce greenhouse gas emissions, and increase America's
energy security.
The United States Senate officially recognized October 8, 2015
as National Hydrogen and Fuel Cell Day when it passed S. RES 217.
The passage of this resolution underscores the collective efforts
and hard work of the entire industry, along with the leadership of
the Senate Fuel Cell and Hydrogen Caucus. The 8th of October was
chosen to observe National Hydrogen and Fuel Cell Day in
recognition of the atomic weight of hydrogen (1.008).
Leaders in the industry, Plug Power provides customers in the
material handling and stationary power markets with reliable,
robust hydrogen fuel cell systems through GenKey. GenKey combines
GenDrive or ReliOn fuel cells, GenFuel hydrogen storage and
dispensing infrastructures, and GenCare aftermarket service, to
enable easy adoption.
"Plug Power is proud to be one of the many organizations
participating in National Hydrogen and Fuel Cell Day," said Andy
Marsh, CEO of Plug Power. "Increasing numbers of distribution
center and stationary power customers are choosing to implement our
solutions because they make sense economically, operationally and
sustainably. We are honored to be generating a positive impact in
the industry."
Currently, Plug Power has more than 8,500 GenDrive fuel cells
deployed at customer sites. Since the inception of GenKey in 2014,
Plug Power has constructed more than 15 complete indoor and outdoor
GenFuel infrastructures with customers like Walmart, P&G,
Kroger and Newark Farmers Market. Plug Power's fuel cell units have
accumulated more than 107 million hours of runtime and its GenFuel
systems have dispensed more than 330 metric tons of hydrogen,
equating to more than 3,000 fills per day.
"The future of hydrogen as a competitive energy source is now,"
said Morry Markowitz, President of the Fuel Cell and Hydrogen
Energy Association (FCHEA). "The industry has grown tremendously as
material handling deployments have taken off, stationary
application opportunities continue to grow and fuel cell electric
vehicles become available in the showroom. Today we are celebrating
the contributions fuel cell and hydrogen energy technologies have
made towards our nation's new energy future."
Plug Power values commercial traction with material handling and
stationary power customers in North America, as they continue to
deploy hydrogen and fuel cell systems that positively impact their
businesses. But, don't take our word for it – view a
compilation of Plug Power customer testimonials at
https://youtu.be/Msa5kxfWdm8. For more information on National
Hydrogen and Fuel Cell Day, and the participating organizations,
please go to www.hydrogenfuelcellday.org.
About Plug Power Inc.
The powerhouse in hydrogen fuel cell technology, Plug Power is
revolutionizing the industry with cost-effective solutions that
increase productivity, lower operating costs and reduce carbon
footprint. Its signature solution, GenKey, provides an
all-inclusive package for customers, incorporating GenFuel hydrogen
and fueling infrastructure, GenCare aftermarket service and either
GenDrive or ReliOn fuel cell systems. GenDrive, a lead-acid battery
replacement, is used in electric lift trucks in high-throughput
material handling applications. With more than 8,500 GenDrive units
deployed with material handling customers, GenDrive has been proven
reliable with over 107 million hours of runtime. Plug Power
manufactures tomorrow's incumbent power solutions today, so
customers can POWERAhead. Additional information about the Plug
Power brands is available at www.plugpower.com.
Plug Power Inc. Safe Harbor Statement
This communication contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995
that involve significant risks and uncertainties about Plug Power
Inc. ("PLUG"), including but not limited to statements about PLUG's
forecast of financial performance, order bookings, business model,
strategy and growth opportunities. You are cautioned that such
statements should not be read as a guarantee of future performance
or results, and will not necessarily be accurate indications of the
times at, or by which, such performance or results will have been
achieved. Such statements are subject to risks and uncertainties
that could cause actual performance or results to differ materially
from those expressed in these statements. In particular, the risks
and uncertainties include, among other things, the risk that we
continue to incur losses and might never achieve or maintain
profitability; the risk that we will need to raise additional
capital to fund our operations and such capital may not be
available to us; the risk that our lack of extensive experience in
manufacturing and marketing products may impact our ability to
manufacture and market products on a profitable and large-scale
commercial basis; the risk that unit orders will not ship, be
installed and/or converted to revenue, in whole or in part; the
risk that pending orders may not convert to purchase orders, in
whole or in part; the risk that a loss of one or more of our major
customers could result in a material adverse effect on our
financial condition; the risk that a sale of a significant number
of shares of stock could depress the market price of our common
stock; the risk that negative publicity related to our business or
stock could result in a negative impact on our stock value and
profitability; the risk of potential losses related to any product
liability claims or contract disputes; the risk of loss related to
an inability to maintain an effective system of internal controls
or key personnel; the risks related to use of flammable fuels in
our products; the cost and timing of developing, marketing and
selling our products and our ability to raise the necessary capital
to fund such costs; the ability to achieve the forecasted gross
margin on the sale of our products; the risk that our actual net
cash used for operating expenses may exceed the projected net cash
for operating expenses; the cost and availability of fuel and
fueling infrastructures for our products; market acceptance of our
products, including GenDrive, ReliOn and GenKey systems; the
volatility of our stock price; our ability to establish and
maintain relationships with third parties with respect to product
development, manufacturing, distribution and servicing and the
supply of key product components; the cost and availability of
components and parts for our products; our ability to develop
commercially viable products; our ability to reduce product and
manufacturing costs; our ability to successfully expand our product
lines; our ability to successfully expand internationally; our
ability to improve system reliability for our GenDrive, ReliOn and
GenKey systems; competitive factors, such as price competition and
competition from other traditional and alternative energy
companies; our ability to protect our intellectual property; the
cost of complying with current and future federal, state and
international governmental regulations; risks associated with
potential future acquisitions; and other risks and uncertainties
referenced in our public filings with the Securities and Exchange
Commission. For additional disclosure regarding these and other
risks faced by PLUG, see disclosures contained in PLUG's public
filings with the Securities and Exchange Commission (the "SEC")
including, the "Risk Factors" section of PLUG's Annual Report on
Form 10-K for the year ended December 31, 2014. You should consider
these factors in evaluating the forward-looking statements included
in this presentation and not place undue reliance on such
statements. The forward-looking statements are made as of the date
hereof, and PLUG undertakes no obligation to update such statements
as a result of new information.
CONTACT: Plug Power Media Contact
Teal Vivacqua
518.738.0269
media@plugpower.com
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