Plug Power Announces Two New Distribution Partners to Access Targeted Markets in U.S. and South Korea
09 Marzo 2006 - 1:24PM
PR Newswire (US)
LATHAM, N.Y., March 9 /PRNewswire-FirstCall/ -- Plug Power Inc.
(NASDAQ:PLUG), a leader in providing clean, reliable on-site
energy, today announced agreements with LOGANEnergy Corp. and
Pacific Telepoint Inc. to distribute the Company's GenCore(R)
product line to customers in the United States and South Korea,
respectively. Consistent with Plug Power's sales and marketing
strategy, these new distributors will be targeting customers in the
telecom, utility and public sectors, where the need for reliable,
extended-run backup power is critical. LOGANEnergy plans to target
their existing customer base of government agencies such as the
U.S. Department of Defense, U.S. Department of State and the
Federal Aviation Administration. Pacific Telepoint intends to
distribute Plug Power's GenCore systems to various South Korean
telecommunications, industrial and utility companies. "In keeping
with our 2006 milestone of expanding our network of channel and
strategic partners, I am pleased to announce the addition of
LOGANEnergy and Pacific Telepoint to the family of GenCore
distributors," said Mark Sperry, Chief Marketing Officer of Plug
Power. "Both LOGANEnergy and Pacific Telepoint have made purchase
commitments and have already sold and installed GenCore systems
with key end user accounts in their respective territories." The
GenCore product line includes backup power products for the
telecommunication, uninterruptible power supply and electric
utility markets. The hydrogen-fueled GenCore 5-kilowatt backup fuel
cell system is available in seven configurations to serve the broad
needs of these applications. About LOGANEnergy Corp. LOGANEnergy
Corp. works closely with fuel cell manufacturers to assist their
commercialization strategies. Its product catalog includes PEM,
PAFC and CARBONATE power plants ranging from 5kW to 2MW capacities
designed for Residential/Light Commercial, Commercial and
Industrial applications. The company's staff has installed more
than 75 fuel cell power plants exceeding 8MW capacity at more than
65 locations. Customers include Department of Defense, fuel cell
manufacturers, utilities, banks, universities, real estate
developers and other business centers. About Pacific Telepoint Inc.
Pacific Telepoint Inc. is a newly formed company combining the
strengths of Solectek and CHP-Tech. Solectek manufactures Non Line
of Sight (NLOS) communication systems and wireless system
integrator for enterprise networks, government networks, carrier
traffic backhauls and video surveillance. CHP-Tech is an
experienced installer of fuel cell systems for prime power,
hydrogen vehicle refueling, and backup power. Customers include
local natural gas, LPG and city gas companies, telecommunication
service providers and universities. About Plug Power Plug Power
Inc. 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 to join Plug Power's
energy revolution as an investor, customer, supplier or strategic
partner, please visit http://www.plugpower.com/. 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, Manager, Public
Relations & Marketing, +1-518-782-7700, Ext. 1973, Mobile:
+1-518-527-1172, Web site: http://www.plugpower.com/
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