FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

SMART HYDROGEN, INC. 		2. Issuer Name and Ticker or Trading Symbol

PLUG POWER INC [ PLUG ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      __ X __ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

135 ARCH. MAKARIOS III AVENUE, EMELLE BLDG., 2ND FLOOR, OFFICE NO.22 		3. Date of Earliest Transaction (MM/DD/YYYY)

2/8/2008
(Street)

LIMASSOL, CYPRUS CY-3021 
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

___ Form filed by One Reporting Person
_ X _ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, par value $0.01 per share   2/8/2008     P    3400   A $3.30   5124404   D   (1)  
Common Stock, par value $0.01 per share   2/8/2008     P    300   A $3.32   5124704   D   (1)  
Common Stock, par value $0.01 per share   2/8/2008     P    1235   A $3.34   5125939   D   (1)  
Common Stock, par value $0.01 per share   2/8/2008     P    100   A $3.35   5126039   D   (1)  
Common Stock, par value $0.01 per share   2/8/2008     P    600   A $3.38   5126639   D   (1)  
Common Stock, par value $0.01 per share   2/8/2008     P    300   A $3.39   5126939   D   (1)  

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Class B Capital Stock, par value $0.01   $39500000   (2)                   (1) (2)   (1) (2) Common Stock, par value $0.01   395000   (2)   395000   D   (1)  

Explanation of Responses:
( 1)  The shares reported above are held directly by Smart Hydrogen Inc. ("Smart Hydrogen"), which is jointly owned and controlled by Clayburn Development Inc. ("Clayburn") and Branton Limited ("Branton"). Branton and Clayburn share investment control and controlling shareholder status over Smart Hydrogen and, as such, are indirect beneficial owners of the reported shares of Common Stock and Class B Capital Stock. Clayburn is a wholly-owned subsidiary of MMC Norilsk Nickel ("Norilsk"). Therefore, Norilsk is an indirect beneficial owner of the reported shares of Common Stock. Mikhail D. Prokhorov and Vladimir O. Potanin share investment control and controlling shareholder status over Branton and Norilsk and, as such, are indirect beneficial owners of the reported shares of Common Stock and Class B Capital Stock.
( 2)  Each share of Class B Capital Stock is convertible at any time into 100 shares of Plug Power Inc.'s Common Stock, par value $0.01 per share, subject to certain adjustments in the case of a stock split or reverse stock split of the Common Stock or a reorganization, recapitalization, reclassification, consolidation or merger involving Plug Power Inc.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
SMART HYDROGEN, INC.
135 ARCH. MAKARIOS III AVENUE
EMELLE BLDG., 2ND FLOOR, OFFICE NO.22
LIMASSOL, CYPRUS CY-3021 
X

MMC NORLISK NICKEL
22 VOZNESENSKY PEREULOK
MOSCOW, RUSSIA 125009 
X

Clayburn Development Inc.
PASEA ESTATE
ROAD TOWN
TORTOLA, BVI 
X

Branton LTD
KINGS COURT, 1ST FLOOR
BAY STREET, P.O. BOX N-3944
NASSAU, BAHAMAS 
X

PROKHOROV MIKHAIL D
22 VOZNESENSKY PEREULOK
MOSCOW, RUSSIA 125009 
X

POTANIN VLADIMIR O
9 BOLSHAYA YAKIMANKA STREET
MOSCOW, RUSSIA 119180 
X


Signatures
/s/ Athina Karelidou, Director of Smart Hydrogen Inc. 2/11/2008
** Signature of Reporting Person Date

/s/ Denis S. Morozov, CEO and Chairman of the Management Board of MMC Norilsk Nickel 2/11/2008
** Signature of Reporting Person Date

/s/ Andrey Smirnov, Attorney-In-Fact for Clayburn Development Inc. 2/11/2008
** Signature of Reporting Person Date

/s/ Maria Lambrianidou, Dierctor of Branton Limited 2/11/2008
** Signature of Reporting Person Date

/s/ Mikhail D. Prokhorov 2/11/2008
** Signature of Reporting Person Date

/s/ Vladimir O. Potanin 2/11/2008
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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