PLUG Plug Power Inc

Visit Follows on the Heels of President's Advanced Energy Initiative Announced in 2006 State of The Union Address LATHAM, N.Y., Feb. 2 /PRNewswire-FirstCall/ -- President George W. Bush today viewed a display featuring Plug Power's GenCore(R) fuel cell system while touring the 3M headquarters in St. Paul, Minn. The president's visit occurred two days after his State of the Union address calling for a 22 percent increase in clean-energy research and a 75 percent reduction of oil imports from the Middle East by 2025. "This was a great opportunity for President Bush to see first hand how fuel cell power systems are used in stationary applications today," said Greg Silvestri, Chief Operating Officer of Plug Power. "Fuel cell manufacturers and supply chain partners like 3M are providing the foundation needed to advance the development of fuel cell systems now and in the future." 3M and Plug Power have been working together since 2002. 3M provides Plug Power with the membrane electrode assembly (MEA), which is a key component used in the Company's 5kW hydrogen-fueled backup power system -- GenCore. The two companies are also teamed in an ongoing project with the U.S. Department of Energy (DOE) to develop a high durability membrane electrode assembly for the fuel cell stack. Further, Plug Power is nearing completion of a project for the DOE to develop and demonstrate a next-generation backup power system that incorporates improvements made in the MEA and other essential components. The DOE provided funding for Plug Power's work through several previously awarded programs totaling $12.5M. About Plug Power Plug Power Inc. (NASDAQ:PLUG) is an established leader in the deployment of clean, reliable, on-site energy products. More than 600 Plug Power fuel cell systems have been delivered to customers worldwide in commercial, public sector, telecommunications, utility and uninterruptible power supply markets. For more information about how you can join Plug Power's energy revolution as an investor, customer, supplier or strategic partner, please visit http://www.plugpower.com/. Plug Power Safe Harbor Statement: This press release may contain statements, which are not historical facts and are considered forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements contain projections of Plug Power's future results of operations, Plug Power's product development expectations or of Plug Power's financial position or state other forward-looking information. In some cases you can identify these statements by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "will" and "would" or similar words. You should not rely on forward-looking statements because Plug Power's actual results may differ materially from those indicated by these forward-looking statements as a result of a number of important factors. These factors include, but are not limited to, 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 reliance on its relationship with certain affiliates of General Electric (GEFCS); Plug Power's ability to perform on its multi-generation product plan in a manner satisfactory to GEFCS; 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; the ability to raise and provide the necessary capital to develop, manufacture and market 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; fluctuations in the trading price and volume of Plug Power's common stock and other risks and uncertainties discussed under the heading "Factors Affecting Future Results" in Plug Power's annual report on Form 10-K for the fiscal year ended December 31, 2004, dated March 15, 2005, and filed with the Securities Exchange Commission on March 15, 2005, and the reports Plug Power files from time to time with the Securities and Exchange Commission. Plug Power does not intend to and undertakes no duty to update the information contained in this press release. DATASOURCE: Plug Power Inc. CONTACT: Cynthia Mahoney White of Plug Power Inc., Manager, Public Relations & Marketing, +1-518-782-7700 ext. 1973, or Mobile: +1-518-527-1172,

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