LATHAM, N.Y., May 15, 2008 (PRIME NEWSWIRE) -- Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean, reliable on-site energy solutions, today announced that it will close the NASDAQ market on May 20, 2008 at the NASDAQ MarketSite in New York City's Times Square. Newly appointed president and CEO Andy Marsh will ring the NASDAQ bell signifying the close of the market for the day. Marsh was appointed by the Plug Power board of directors in April 2008.
The following day, May 21, 2008, the Company will host its annual shareholder meeting beginning at 10:00 a.m. ET at the NASDAQ MarketSite. Mr. Marsh will address the board of directors and shareholders for the first time since his appointment. He will discuss the products, services and his initial impressions of the strategic direction and operations of Plug Power. Following a brief question and answer session, Marsh will be available to meet with shareholders and investors, which will conclude the business meeting.
"In meeting with customers, suppliers, strategic partners and employees over the last six weeks, I have gained valuable insight into the operations and strategic direction of the Company," said Andy Marsh. "Now I'm looking forward to meeting the most important stakeholder group, the shareholders."
In conjunction with the Company's shareholder meeting, products from Plug Power's three product platforms, GenCore(r), GenDrive(tm) and GenSys(r), will be on display. GenCore is a 5 kW fuel cell system that provides backup power to telecommunication sites. GenDrive fuel cell power units replace lead-acid batteries in lift truck applications in large warehouse, distribution and manufacturing centers. The GenDrive display will feature a live demo of a fuel cell-powered stand-up pallet truck. GenSys, a brand encompassing three distinct products, includes fuel cell systems that provide continuous power for remote cell towers, residential combined heat and power and a home hydrogen refueling station.
About Plug Power Inc.
Plug Power Inc. (Nasdaq:PLUG), an established leader in the development and deployment of clean, reliable on-site energy solutions, integrates fuel cell technology into backup, motive and continuous power products. The Company is actively engaged with private and public customers in targeted markets throughout the world, including North America, Europe, the Middle East, Russia, South Africa and South America. For more information about how to join Plug Power's energy revolution as an investor, customer, supplier or strategic partner, please visit www.plugpower.com.
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Plug Power Inc. Safe Harbor Statement
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to statements regarding our expectations for revenues and product orders, sales, shipments and installations for 2008. We believe that it is important to communicate our future expectations to our investors. However, there may be events in the future that we are not able to accurately predict or control and that may cause our actual results to differ materially from the expectations we describe in our forward-looking statements, including, without limitation, the risk that the FCC does not adopt rules regarding back up power requirements; the risk that unit orders will not ship, be installed and/or convert to revenue, in whole or in part; Plug Power's ability to develop commercially viable on-site energy products; the cost and timing of developing Plug Power's on-site energy products; market acceptance of Plug Power's on-site energy products; Plug Power's ability to manufacture on-site energy products on a large-scale commercial basis; competitive factors, such as price competition and competition from other traditional and alternative energy companies; the cost and availability of components and parts for Plug Power's on-site energy products; Plug Power's ability to establish relationships with third parties with respect to product development, manufacturing, distribution and servicing and the supply of key product components; Plug Power's ability to protect its Intellectual Property; Plug Power's ability to lower the cost of its on-site energy products and demonstrate their reliability; the cost of complying with current and future governmental regulations; the impact of deregulation and restructuring of the electric utility industry on demand for Plug Power's on-site energy products; and other risks and uncertainties discussed under "Item IA-Risk Factors" in Plug Power's annual report on Form 10-K for the fiscal year ended December 31, 2007, filed with the Securities and Exchange Commission ("SEC") on March 17, 2008, and the reports Plug Power files from time to time with the SEC. Plug Power does not intend to and undertakes no duty to update the information contained in this communication.