LATHAM, N.Y., Sept. 22, 2015 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ:PLUG), a leader in providing clean, reliable energy solutions today participates in a tour of a Praxair hydrogen plant with Congressman Chris Gibson (R-NY), followed by a press event at the Praxair, Inc. Technology Center in Tonawanda, NY. Congressman Gibson will tour Praxair's hydrogen production facility with Plug Power CEO Andy Marsh and Praxair's East Region Vice President Jeff Barnhard.
Congressman Gibson will discuss how Upstate New York manufacturers and technology developers are enabling clean energy technologies for use in many industries, including material handling. Among many of the progressive solutions on display, Congressman Gibson will have the opportunity to operate a Plug Power GenDrive-powered lift truck and simulate a refueling from a GenFuel hydrogen fueling dispenser.
Plug Power currently has more than 8,500 GenDrive fuel cells deployed and to-date has constructed more than 15 GenFuel hydrogen fueling infrastructures in North America for material handling and stationary power customers, such as Walmart, Kroger, Uline and SouthernLINC Wireless. Plug Power GenDrive units have accumulated more than 107 million hours of runtime and its GenFuel infrastructures have dispensed more than 330 metric tons of hydrogen, equating to more than 3,000 fills per day.
"Investment in our GenFuel hydrogen storage and dispensing technology has enabled increased market growth for Plug Power," said Andy Marsh, Plug Power CEO. "Our solutions deliver clean, productivity-enhancing hydrogen fuel cells to customers and are allowing us to broaden our achievements in the thriving material handling industry and also expansion into other markets like: retail, ground support equipment and stationary power."
Congressman Chris Gibson represents the people of New York's 19th Congressional District, including many employees at Plug Power. Throughout his Congressional career, Congressman Gibson has been a fervent supporter of fuel cells and hydrogen technologies. Through bi-partisan leadership, Gibson has demonstrated his clear understanding of what it takes to make a clean energy business successful in Upstate New York. Congressman Gibson has pledged his support for development of the industry by championing policies like the hydrogen fuel cell tax credit.
"I am excited to spend time with the innovative, hard-working New Yorkers who are leading the way in the development and production of hydrogen fuel cell technology," said Congressman Chris Gibson (NY-19). "I want to thank Plug Power and Praxair for giving me the opportunity to learn more about this important industry. They are clean energy pioneers, and I am proud to partner with them in our efforts to lower energy costs for American consumers and reduce our dependence on fossil fuels."
On June 4, 2015, during the Washington DC leg of Plug Power's nationwide six-city road show, Congressman Gibson offered comments and praise for Plug Power's success in expanding the adoption of its environmentally friendly hydrogen and fuel cells solutions. You can hear Congressman Gibson's remarks at https://event.webcasts.com/viewer/event.jsp?ei=1063362.
SEPTEMBER 22, 2015 INVITE ONLY PRESS EVENT DETAILS:
TIME: Tuesday, September 22, 3:00 PM Eastern
LOCATION: Praxair Technology Center, 175 East Park Drive, Tonawanda, NY
SPEAKERS: Congressman Chris Gibson, Praxair East Region Vice President Jeff Barnhard, Plug Power CEO Andy Marsh
MEDIA NOTE: Media will have the opportunity to ask questions
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 firstname.lastname@example.org
Source:Plug Power Inc.