Plug Power Receives Contract to Provide Hydrogen at DTE Power Plant
21 Dicembre 2004 - 2:03PM
PR Newswire (US)
Plug Power Receives Contract to Provide Hydrogen at DTE Power Plant
LATHAM, N.Y., Dec. 21 /PRNewswire-FirstCall/ -- Plug Power Inc.
(NASDAQ:PLUG), a leading provider of clean, reliable on-site
energy, announced today a contract award to provide on-site
hydrogen generation to The Detroit Edison Company's Saint Clair
Power Plant. The hydrogen will be used to provide cooling to six
generator units currently in operation at the Saint Clair facility.
"This is a great opportunity for Detroit Edison to test and prove
on-site hydrogen generation technology in a demanding, industrial
application," said Guy Harris, Detroit Edison Director, Fossil
Generation Performance. "We look forward to working with Plug Power
on similar ventures in the future and in helping to play an
important role in the realization of the hydrogen economy." Under
the terms of the contract, Plug Power will install a GenSite(TM)
hydrogen generator at the St. Clair Power Plant located in East
China, Michigan. The GenSite system has already been shipped to the
Saint Clair facility and is expected to be fully operational early
next year. The Plant is located on 1,700 acres south of the city of
Saint Clair and produces approximately 1,400 megawatts of power for
the Detroit Edison system, which serves 2.1 million customers in
southeast Michigan. The GenSite system will augment Saint Clair's
existing liquid hydrogen infrastructure and provide a significant
portion of the hydrogen needed for the Power Plant's daily
operations. Plug Power will provide customer training that will
address specific installation and maintenance requirements for
Detroit Edison's designated personnel. About GenSite(TM)
GenSite(TM) hydrogen generation systems provide reliable and
economical on-site generation of pure, compressed hydrogen gas for
industrial gas applications. Based on Plug Power's auto thermal
reforming technology, which has been proven in more than 400 field
installations and two million hours of field run time, GenSite
systems reduce the need for transportation and storage of hydrogen
gas cylinders and tube trailers, lower the cost of supplying
hydrogen gas, and provide a secure source of hydrogen on site.
About The Detroit Edison Company Detroit Edison is an
investor-owned electric utility serving 2.1 million customers in
Southeastern Michigan and a subsidiary of DTE Energy (NYSE:DTE), a
Detroit-based diversified energy company involved in the
development and management of energy-related businesses and
services nationwide. Information about DTE Energy is available at
http://www.dteenergy.com/. 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 PEMEAS GmbH. The
Company's headquarters are located in Latham, N.Y., with offices in
Washington, D.C., and The Netherlands. Additional corporate
information is available at http://www.plugpower.com/. 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. DATASOURCE:
Plug Power Inc. CONTACT: Cynthia Mahoney White, Manager, Public
Relations & Marketing, +1-518-782-7700, ext. 1973 Web site:
http://www.dteenergy.com/ http://www.plugpower.com/
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