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2015-09-10

Plug Power Inc.: Prelodis Commissions Plug Power GenDrive Units at Site in France

GenDrive Systems in Operation at Greenfield Logistics Facility for This New
European Customer

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| LATHAM, N.Y., Sept. 10, 2015 (GLOBE NEWSWIRE) -- Plug Power Inc. |
|(NASDAQ:PLUG), a leader in providing clean, reliable energy solutions, has |
|announced Prelodis as its recent European GenDrive customer. Plug Power has |
|fully shipped and commissioned units for Prelodis to use at its |
|new-construction (greenfield) logistics facility located in Saint Cry en Val, |
|a community close to Orléans in north-central France. This center is operated |
|by Prelocentre, a subsidiary of Prelodis, and runs three shifts of operation. |
| |
|The GenDrive units at Prelocentre have been operational since August 31, 2015 |
|in the 20,000 sq ft. retail food warehouse. Additionally, a 33,000 sq. ft. |
|extension has been planned and offers an opportunity for onsite expansion of |
|the GenDrive-powered lift truck fleet. |
| |
|"The recently formed European division of Plug Power has already realized |
|sales, and has shipped and commissioned product for commercial customers with |
|real expansion opportunities," said Andy Marsh, CEO at Plug Power. "Just like |
|in North America, these customers value productivity, efficiency and |
|sustainability - all items our GenDrive value proposition brings to the |
|table." |
| |
|The sale of GenDrive fuel cells to Prelodis marks Plug Power's first |
|greenfield project in Europe, where emission standards are critical. GenDrive |
|is powered by hydrogen, generating only heat and water as byproducts. Even |
|more so, Prelodis has built its new facility with no battery room, showing |
|its deep commitment to hydrogen fuel cell power now and into the future. |
| |
|As with the enormous value realized by Plug Power's current customer base, |
|Prelodis will also experience increased productivity from its electric lift |
|truck fleet. GenDrive enables the vehicles to maintain full power for a |
|complete shift, and the need to change batteries is eliminated. The GenDrive |
|units are refueled in just a few minutes, compared to the 15 minutes needed |
|to change a battery. |
| |
|"Prelodis selected Plug Power's GenDrive fuel cell solution for its greenfield |
|site in France because the company appreciates the productivity-enhancing |
|impact the solution can offer and they fully anticipate the quick and |
|positive return on investment achieved through avoiding costs associated with |
|batteries," continued Marsh. "Most importantly, Prelodis appreciates the |
|sustainability advantages to be realized by using hydrogen-powered fuel cells |
|in the facility's lift truck vehicles." |
| |
|Plug Power currently offers a full suite of CE-certified GenDrive models that |
|meet the specifications and qualifications of European lift trucks. The Plug |
|Power European sales team is actively engaged with customers in areas with |
|high labor costs. |
| |
|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 more than |
|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 |
|atwww.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: Media and Investor Relations Contact: |
| Teal Vivacqua |
| Plug Power Inc. |
| Phone: 518.738.0269 |
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