Plug Power Announces New Product Line for On-Site Hydrogen Generation Market
03 Dicembre 2003 - 1:00PM
PR Newswire (US)
Plug Power Announces New Product Line for On-Site Hydrogen
Generation Market LATHAM, N.Y., Dec. 3 /PRNewswire-FirstCall/ --
Plug Power Inc. announced today a new product line for the on-site
hydrogen generation market. The GenSite(TM) product line is
designed to provide reliable, economical on-site generation of pure
compressed hydrogen gas for industrial applications such as
generator cooling and metals processing. (Logo:
http://www.newscom.com/cgi-bin/prnh/20021024/PLUGLOGO ) "We believe
the GenSite(TM) product line offers a compelling economic value
proposition when compared to the current cost associated with
bottled hydrogen distribution and on-site electrolyzers," said Mark
Sperry, Plug Power Chief Marketing Officer. "Hydrogen consumers
require a reliable, easy to use, modular and scalable source of
industrial grade hydrogen gas, the GenSite(TM) line shows Plug
Power's capability and resolve to deliver on these needs." The
GenSite(TM) product line operates on natural gas and provides 99.95
percent pure compressed hydrogen gas. The new product line
leverages Plug Power's core reformer technology that has been
embedded in more than 380 GenSys(TM) fuel cell systems, which have
operated for approximately one million hours during the past three
years. Plug Power, a leader in system integration, will incorporate
the reformer with a compressor and purifier to complete the overall
system design. The Company intends to engage both users of
industrial hydrogen gas and industrial gas suppliers through
demonstration units starting in the summer of 2004. A 7 Nm3/hr (247
cubic feet/hour) GenSite(TM) unit will be on display in the Plug
Power booth (#7737) at POWER-GEN in Las Vegas, Nev. from Tuesday,
Dec. 9 through Thursday, Dec. 11. To learn more please visit
http://www.plugpower.com/ and proceed to the event section. About
Plug Power Plug Power Inc. designs and develops on-site energy
systems based on proton exchange membrane fuel cells. Plug Power's
strategic partners include GE Fuel Cell Systems, DTE Energy
Technologies, Vaillant GmbH, Honda R&D Co., Ltd., Engelhard
Corporation and Celanese Ventures. The Company's headquarters are
located in Latham, N.Y., with offices in Washington, D.C., and The
Netherlands. 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, 2002, dated March 31, 2003 and filed with the
Securities Exchange Commission on March 31, 2003, 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.
http://www.newscom.com/cgi-bin/prnh/20021024/PLUGLOGODATASOURCE:
Plug Power Inc. CONTACT: Cynthia Mahoney White, Manager, Public
Relations & Marketing of Plug Power Inc., +1-518-782-7700 ext.
1973 Web site: http://www.plugpower.com/
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