Plug Power Inc. Ranked as a Fast Growing Company in North America on Deloitte's 2011 Technology Fast 500(TM)
20 Ottobre 2011 - 3:00PM
Plug Power Inc. (Nasdaq:PLUG) today announced it has been ranked on
Deloitte's Technology Fast 500™, a ranking of the 500 fastest
growing technology, media, telecommunications, life sciences and
clean technology companies in North America. Plug Power grew 149
percent during this period.
Plug Power's chief executive officer, Mr. Andy Marsh, credits
commercial and economic viability of its proven GenDrive® hydrogen
fuel cell product with the company's 149 percent revenue growth. He
said, "Plug Power has established a market for our GenDrive
hydrogen fuel cell solution in the material handling industry.
GenDrive allows customers to eliminate toxic lead-acid batteries
from their lift truck fleets and implement a green power solution
that increases productivity and lowers operational costs."
"Plug Power, like all 2011 Technology Fast 500™ companies, have
excelled in fostering innovation and channeling it into spectacular
growth -- against the backdrop of one of the most challenging
economies in history," said Eric Openshaw, vice chairman and U.S.
technology, media and telecommunications leader, Deloitte LLP.
"Deloitte recognizes Plug Power for its remarkable
accomplishment."
"We are pleased to honor Plug Power as a 2011 Technology Fast
500 company," said Mark Jensen, managing partner, technology and
venture capital services, Deloitte & Touche LLP. "As one of the
fastest growing tech companies in North America, Plug Power has
demonstrated excellence in technological innovation,
entrepreneurship and rapid growth."
About Deloitte's 2011 Technology Fast 500™
Technology Fast 500, which was conducted by Deloitte &
Touche LLP, a subsidiary of Deloitte LLP, provides a ranking of the
fastest growing technology, media, telecommunications, life
sciences and clean technology companies – both public and private -
in North America. Technology Fast 500 award winners are selected
based on percentage fiscal year revenue growth from 2006 to
2010.
In order to be eligible for Technology Fast 500 recognition,
companies must own proprietary intellectual property or technology
that is sold to customers in products that contribute to a majority
of the company's operating revenues. Companies must have base-year
operating revenues of at least $50,000 USD or CD, and current-year
operating revenues of at least $5 million USD or CD. Additionally,
companies must be in business for a minimum of five years, and be
headquartered within North America.
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 Plug Power's key accounts, including Wegmans,
Whole Foods, and FedEx Freight. With more than 1,200 GenDrive
units shipped to material handling customers, accumulating over 4.5
million hours of runtime, Plug Power manufactures tomorrow's
incumbent power solutions today. Additional information about Plug
Power is available 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. These statements are based on current expectations that are
subject to certain assumptions, risks and uncertainties, any of
which are difficult to predict, are beyond Plug Power's control and
that may cause Plug Power's actual results to differ materially
from the expectations in Plug Power's forward-looking statements
including statements regarding the risk that revenue growth can or
will be sustained, that unit orders will not ship, be installed
and/or convert to revenue, in whole or in part; the cost and timing
of developing Plug Power's products and its ability to raise the
necessary capital to fund such development costs; the risk that the
previously disclosed expected uses of the Company's recently raised
capital may change; the ability to achieve the forecasted gross
margin on the sale of Plug Power's products; the 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 Plug Power's products; market acceptance of
Plug Power's GenDrive system; Plug Power's 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 Plug Power's products; Plug Power's
ability to develop commercially viable products; Plug Power's
ability to reduce product and manufacturing costs; Plug Power's
ability to successfully expand its product lines; Plug Power's
ability to improve system reliability for GenDrive; competitive
factors, such as price competition and competition from other
traditional and alternative energy companies; Plug Power's ability
to manufacture products on a large-scale commercial basis; Plug
Power's ability to protect its intellectual property; the cost of
complying with current and future governmental regulations; and
other risks and uncertainties discussed under "Item IA-Risk
Factors" in (i) Plug Power's annual report on Form 10-K for the
fiscal year ended December 31, 2010, filed with the Securities and
Exchange Commission ("SEC") on March 31, 2011 and (ii) in Plug
Power's quarterly report on Form 10-Q for the quarter ended March
31, 2011 filed with the SEC on May 13, 2011, as well as in the
other reports Plug Power files from time to time with the
SEC. Plug Power does not intend to, and undertakes no duty to
update any forward-looking statements as a result of new
information or future events.
CONTACT: Media Contact:
Reid Hislop
Plug Power Inc.
Phone: (518) 782-7700 ext. 1360
Investor Relations Contact:
Cathy Yudzevich
Plug Power Inc.
Phone: (518) 782-7700 ext. 1448
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