LATHAM, N.Y., April 22, 2016 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ:PLUG), a leader in providing energy solutions that change the way the world moves, announces CEO Andy Marsh will attend and present today at the Hydrogen Energy in Texas Summit. Marsh will discuss the impact the use of hydrogen has on Texas, the United States and the world, and project how that impact will grow by the year 2040. His presentation will begin at 10:15 am CT (11:15 am ET).
The summit is for an invite-only audience of business, government and other energy stakeholders. The collaborative discussions will promote the global perspective for hydrogen, and specific opportunities, barriers, jobs and the benefits of growth of this new energy field in Texas.
Plug Power built the hydrogen and fuel cell industry in the material handling market, with more than 10,000 units deployed today. In fact, more than 90% of fuel cell users in the industry today are Plug Power customers. Specifically in Texas, Plug Power has deployed 1,274 GenDrive fuel cells and four GenFuel hydrogen fueling and storage infrastructures, where customers dispense more than 900kg of hydrogen daily. Plug Power customer, Walmart, has grown its network of deployments in Texas over the past year. Plug Power also recognizes two of its oldest sites with Sysco, both installed in 2010.
In addition to Plug Power’s thriving material handling business, the company has a stake in stationary power products with its GenSure fuel cell system. The company has deployed 127 GenSure systems in Texas with customers that include Sprint, Verizon and BNSF railroad.
“Today, Plug Power’s GenDrive and GenSure customers have removed the pollution equivalent of almost 10,000 cars from our roads through their emissions reductions,” said Andy Marsh. “Plug Power’s innovative hydrogen products are stimulating adoption today. But there is much to be done to make the world a more innovative, efficient and environmentally conscious place in 2040. Plug Power will continue to innovate and change the way the world moves.”
Marsh will join other prominent speakers at the conference including Texas Lieutenant Governor Dan Patrick, Texas Railroad Commissioner Ryan Sitton and hydrogen and fuel cell industry veterans from both gas and system industries.
About Plug Power Inc.
The architects of modern hydrogen and fuel cell technology, Plug Power has revolutionized the industry with its simple GenKey solution, elements of which are designed to increase productivity, lower operating costs and reduce carbon footprints in a reliable, cost-effective way. Plug Power’s GenKey solution couples together all the necessary elements to power, fuel and service a customer. Plug Power is the partner that customers trust to take their businesses into the future. For more information about Plug Power, visit www.plugpower.com.
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 2016 objectives, including goals relating to revenue, sales, booking, gross margin and GenKey and GenFuel installations 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, 2015. 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.