Plug Power and Airgas Sign Hydrogen Fuel Service Agreement
17 Marzo 2004 - 10:30PM
PR Newswire (US)
Plug Power and Airgas Sign Hydrogen Fuel Service Agreement Airgas
to supply hydrogen fuel for GenCore(R) fuel cell customers LATHAM,
N.Y. and RADNOR, Pa., March 17 /PRNewswire-FirstCall/ -- Plug Power
Inc. , a leader in the design, manufacture and deployment of proton
exchange membrane (PEM) fuel cell systems, and Airgas, Inc. , the
largest U.S. distributor of industrial, specialty and medical
gases, today announced a hydrogen fuel service agreement for Airgas
to be the preferred supplier of hydrogen fuel for Plug Power's
GenCore(R) customers. (Logo:
http://www.newscom.com/cgi-bin/prnh/20021024/PLUGLOGO ) The
five-year agreement calls for Plug Power and Airgas to jointly
market hydrogen fuel service products for GenCore(R) fuel cell
systems in the United States. Airgas whose national network
includes nearly 800 locations, will offer fuel services including
cylinder dropoff and connection to Plug Power's GenCore(R)
customers. Airgas will also provide a complete line of specialty
gas equipment to help manage the fuel supply and a unique Chemical
Energy Storage Module (CESM) to provide hydrogen fuel storage for
the GenCore(R) fuel cell systems. According to Tom Thoman, vice
president-gases for Airgas, "Plug Power is building a leading
position in the fuel cell market, especially in the provision of
backup power for telecommunications equipment and other stationary
installations. These applications fit perfectly with our expertise
in cylinder hydrogen fuel storage and supply." "We are excited
about our agreement with Airgas, the leader in the distribution of
cylinder hydrogen throughout the United States," said Mark Sperry,
chief marketing officer, Plug Power. "Together, Plug Power and
Airgas will offer a complete, convenient and cost effective fueling
solution for our customers." About Airgas, Inc. Airgas, Inc.
(NYSE:ARG) is the largest U.S. distributor of industrial, medical
and specialty gases, welding, safety and related products. Its
integrated network of nearly 800 locations includes branches,
retail stores, gas fill plants, specialty gas labs, production
facilities and distribution centers. Airgas also distributes its
products and services through eBusiness, catalog and telesales
channels. Its national scale and strong local presence offer a
competitive edge to its diversified customer base. For more
information, please visit http://www.airgas.com/. About GenCore(R)
Plug Power's GenCore(R) fuel cell system provides extended run
back-up power for the telecommunication and uninterruptible power
supply industries. GenCore(R) is fueled by bottled hydrogen and
produces no emissions. 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., andThe Netherlands. For more information please
visit http://www.plugpower.com/. Forward-Looking Statement for
Airgas, Inc. This press release contains statements that are
forward-looking, as that term is defined by the Private Securities
Litigation Reform Act of 1995 or by the Securities and Exchange
Commission in its rules, regulations and releases. These statements
include, but are not limited to, statements regarding: the
Company's agreement with Plug Power Inc. to be the preferred
supplier of hydrogen fuel to GenCore(R) customers; the Company
providing specialty gas equipment to manage the fuel supply and a
Chemical Energy Storage Module for the GenCore fuel cell systems;
and the Company offering a complete, convenient and cost effective
fueling solution for Plug Power customers. Airgas intends that such
forward-looking statements be subject to the safe harbors created
thereby. All forward-looking statements are based on current
expectations regarding important risk factors and should not be
regarded as a representation by the Company or any other person
that the results expressed therein will be achieved. Important
factors that could cause actual results to differ materially from
those contained in any forward-looking statement include the
Company's ability to continue its contractual relationship with
Plug Power, the Company's ability to supply a sufficient amount of
hydrogen and the related services in a timely manner to Plug
Powers' customers; Plug Powers' ability to attract customers who
accept hydrogen-powered fuel cells, increased cost pressures; an
economic downturn (including adverse changes in the markets in
which Plug Powers' customers operate); increased competition; and
other factors described in the Company's reports, including Form
10-K dated March 31, 2003 and Forms 10-Q dated June 30, 2003,
September 30, 2003 and December 31, 2003 filed by the Company with
the Securities and Exchange Commission. Forward Looking Statement
for Plug Power 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, 2003, dated March 11, 2004 and filed with the
Securities Exchange Commission on March 11, 2004, 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: Media - Cynthia Mahoney White of Plug
Power, +1-518-782-7700, ext. 1973, ; Investor - Melissa Nigro,
+1-610-902-6206, , James Ely, +1-610-902-6010, , both of Airgas Web
Site: http://www.plugpower.com/ http://www.airgas.com/
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