PLUG Plug Power Inc

LATHAM, N.Y., and VANCOUVER, British Columbia, April 18 /PRNewswire-FirstCall/ -- Plug Power Inc. (NASDAQ:PLUG), a leader in providing clean, reliable on-site energy products, today announced that the Company is in the process of negotiating the acquisition of General Hydrogen Corporation, a leader in hydrogen fuel cell power packs as battery replacement technology for electric lift trucks and other industrial vehicles. Although the parties' discussions are ongoing, there can be no assurance that such discussions will result in a transaction between the parties. Plug Power will issue a public announcement if and when a binding agreement has been completed and will provide additional details at that time. About General Hydrogen Corporation General Hydrogen is headquartered in Richmond, British Columbia, near Vancouver, and has a sales and service center in Gallatin, Tennessee. It is a private, Delaware-registered company that develops and commercializes fuel cell power packs and hydrogen fueling solutions for a variety of industrial electric vehicles and off-road equipment. For more information, please visit http://www.generalhydrogen.com/. About Plug Power Plug Power Inc. (NASDAQ:PLUG), an established leader in the development and deployment of clean, reliable, on-site energy products, currently integrates fuel cell technology into backup power products for telecommunications, utility and uninterruptible power supply applications. The Company is actively engaged with private and public customers in targeted markets, including the United States, Europe, Middle East, Russia, South Africa and South America. 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/. Safe Harbor Statement This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to the expected benefits of the Cellex Power and General Hydrogen acquisitions. We believe that it is important to communicate our future expectations to our investors. However, there may be events in the future that we are not able to accurately predict or control and that may cause our actual results to differ materially from the expectations we describe in our forward- looking statements, including, without limitation, the risk that the General Hydrogen acquisition does not close, is unsuccessful or that the anticipated synergies of the Cellex Power and General Hydrogen acquisitions are not realized, that unit orders will not ship, be installed and/or convert to revenue, in whole or in part; 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 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; 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 and other risks and uncertainties discussed under "Item IA-Risk Factors" in Plug Power's annual report on Form 10-K for the fiscal year ended December 31, 2006, filed with the Securities and Exchange Commission ("SEC") on March 16, 2007, and the reports Plug Power files from time to time with the SEC. 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., Phone: +1-518-782-7700 ext. 1973, or Mobile: +1-518-527-1172, ; or Investor Contact: Deborah K. Pawlowski, of Kei Advisors, for Plug Power Inc., Phone: +1-716-843-3908, Mobile: +1-716-310-3949, Web site: http://www.plugpower.com/ http://www.generalhydrogen.com/

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