PLUG Plug Power Inc

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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