Plug Power Inc. to Transfer to NASDAQ Capital Market
08 Giugno 2010 - 1:00PM
Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean,
reliable energy solutions, today announced that The NASDAQ Stock
Market, LLC has approved its application to transfer its stock
listing from the NASDAQ Global Select Market to the NASDAQ Capital
Market. The transfer was effective at the opening of the market on
Monday, June 7, 2010. The Company's stock will continue to be
traded under the symbol "PLUG" and the transfer will have no impact
on the ability of investors to trade the stock.
In accordance with NASDAQ rules, Plug Power has been granted an
additional 180 days from June 8, 2010, or until December 6, 2010,
to demonstrate compliance with the $1.00 bid price requirement of
The NASDAQ Capital Market.
Plug Power's management team continues to show confidence in the
direction of the company. In March, Plug Power's Chairman of the
Board of Directors, George McNamee, and its Chief Executive
Officer, Andy Marsh, purchased a combined total of 210,146 shares
of Plug Power common stock on the open market.
About Plug Power Inc.
The architects of modern fuel cell technology, Plug Power
revolutionized the industry with cost-effective power solutions
that increase productivity, lower operating costs and reduce carbon
footprints. Long-standing relationships with industry leaders
forged the path for our key accounts, including Wegmans, Whole
Foods, and FedEx Freight. With over 1.5 million hours of
in-application runtime, Plug Power manufactures tomorrow's
incumbent power solutions today. Visit us at www.plugpower.com.
The Plug Power Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=4446
Plug Power Inc. Safe Harbor Statement
This communication contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. 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, statements regarding the risk that
unit orders will not ship, be installed and/or convert to revenue,
in whole or in part; the cost and timing of developing our products
and our ability to raise the necessary capital to fund such
development costs; we may be unable to achieve the forecasted gross
margin on the sale of our products; 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 GenDrive
and GenSys systems; 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 improve system reliability for both GenDrive
and GenSys; competitive factors, such as price competition and
competition from other traditional and alternative energy
companies; our ability to manufacture products on a large-scale
commercial basis; our ability to protect our intellectual property;
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 energy
products; and other risks and uncertainties discussed under "Item
IA-Risk Factors" in our annual report on Form 10-K for the fiscal
year ended December 31, 2009, filed with the Securities and
Exchange Commission ("SEC") on March 16, 2010, and the reports we
file from time to time with the SEC. We do not intend to and
undertake no duty to update the information contained in this
communication.
CONTACT: Plug Power Inc.
Media Contact:
Reid Hislop
(518) 782-7700 ext. 1360
Investor Relations Contact:
Cathy Yudzevich
(518) 782-7700 ext. 1448
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