Plug Power Signs Long-Term Agreement to Use Praxair Hydrogen for State-of-the-Art Fuel Cell Solution

LATHAM, N.Y., Nov. 4, 2014 (GLOBE NEWSWIRE) -- Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean, reliable energy solutions, today announced it has signed a long-term hydrogen distribution agreement with Praxair, Inc. (NYSE:PX), one of the largest industrial gases companies in the world and North America's largest liquid hydrogen producer. The agreement pairs Plug Power's GenFuel hydrogen fueling infrastructure solution with Praxair's liquid hydrogen supply capability helping customers realize productivity and environmental benefits.

Plug Power will offer Praxair hydrogen to its customers throughout the United States who are using the company's GenKey hydrogen fuel cell solution. The GenKey solution consists of three separate elements: GenDrive fuel cell units, GenFuel hydrogen fuel and infrastructure, and GenCare maintenance service. Plug Power provides customers with full integration and deployment of the entire GenKey package to ensure a seamless transition to hydrogen fuel cell-based power for their material handling operations.

Praxair's hydrogen supply system provides a high-quality, reliable source of hydrogen for Plug Power customers. Praxair has been providing hydrogen fuel and related technical support to fuel cell developers for over a decade and maintains liquid hydrogen production capacity and distribution capabilities throughout North America. Praxair recently announced it was building a steam methane reformer to increase the supply of hydrogen for customers served from its liquid hydrogen plant in Niagara Falls, New York. When completed in 2015, Praxair's Niagara Falls liquid hydrogen production capacity will increase by 50 percent.

"Our agreement with Praxair will enable us to offer the most reliable and economical hydrogen solution to our customers," said Andy Marsh, chief executive officer, Plug Power Inc. "Plug Power's emergence in the fueling business will simplify the transition to hydrogen fuel cells for material-handling customers."

"Praxair is pleased to contribute to the expansion of fuel cell applications. Plug Power's GenKey solution and our hydrogen supply can provide customers with productivity benefits and help them reduce their environmental impact," said Todd Lawson, vice president of sales and business management for Praxair's U.S. industrial gases business. "This is another example of how Praxair enables companies to operate in a more sustainable and cost-effective manner."

Plug Power launched its GenFuel business in January 2014 as part of the GenKey solution. GenFuel provides customers with an all-inclusive hydrogen fueling solution. GenFuel services include molecule delivery in addition to project management, infrastructure support and operator training.

About Plug Power Inc.

The architects of modern fuel cell technology, Plug Power is revolutionizing the industry with cost-effective power solutions that increase productivity, lower operating costs and reduce carbon footprints. Long-standing relationships with industry leaders, including Walmart, Sysco, Procter & Gamble, and Mercedes Benz, forged the path for Plug Power's innovative GenKey hydrogen and fuel cell system solutions. With more than 6,000 GenDrive units shipped to material handling customers, accumulating over 20 million hours of runtime, Plug Power manufactures tomorrow's incumbent power solutions today. Additional information about Plug Power is available at www.plugpower.com.

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CONTACT: Plug Power Media Contact Teal Vivacqua 518.738.0269 media@plugpower.com

Source:Plug Power Inc.