Plug Power CEO Andy Marsh to Speak at California Hydrogen Fuel Cell Event
October 01 2015 - 7:00AM
Plug Power Inc. (NASDAQ:PLUG), a leader in providing clean,
reliable energy solutions, today announces its participation in the
California Hydrogen & Fuel Cell Summit that began yesterday
September 30 and continues through today October 1, 2015 in
Sacramento.
Plug Power's President and CEO Andy Marsh, will present a
keynote today from 1:00 to 1:30 pm PT that provides his vision
regarding the success of sustainable hydrogen fuel cells in the
material distribution industry. Marsh will also stress the
importance of substantial and economically viable hydrogen
solutions for continued market expansion.
This year's event, hosted by the California Hydrogen Business
Council (CHBC), is the third annual California Hydrogen and Fuel
Cell Summit at the California EPA. The CHBC Summit brings together
some of the most successful and brightest industry leaders in the
nation to interact with the most influential members of the
political community, and will cover the industry's key business,
political, technology and environmental issues.
"I look forward to addressing this conference because this has
been an exciting year for advocates of hydrogen, with a tremendous
increase in development of new hydrogen-based businesses and
technologies worldwide," said Marsh. "Plug Power applauds the work
being done by the CHBC to raise awareness and promote the benefits
of hydrogen and fuel cells."
Plug Power is a platinum member of the CHBC, and Jim Petrecky,
the company's Vice President of Business Development, sits on the
CHBC board of directors.
Sales Outlook Confirmed
Plug Power continues to project bookings of more than $200
million in 2015, and forecasts total sales in excess of $100
million for the year, including sales of more than 3,300 GenDrive
units and construction of more than 15 GenFuel hydrogen
infrastructures. Third quarter revenues are expected to exceed $30
million.
One sales driver is Plug Power's expansion in Europe, as it now
owns 100 percent of HyPulsion, following acquisition of the joint
venture from partner Air Liquide. HyPulsion, which is being renamed
Plug Power Europe, already has an existing suite of CE-certified
products and has developed OEM relationships in many countries.
Plug Power is actively engaged with customers in Europe, placing
strong sales emphasis on countries where high productivity is
essential.
Within North America, repeat customers like Walmart, are
enabling Plug Power to maintain ongoing success via multiple
deployments. Large customers validate the GenKey value proposition,
but GenKey is also attractive to mid-size customers, such as Dietz
and Watson, FreezPak Logistics and Newark Farmers Market, due to
the cost-effectiveness of implementing an onsite GenFuel hydrogen
infrastructure.
About the California Hydrogen Business Council
(CHBC)
The California Hydrogen Business Council is a non-profit trade
association of organizations and individuals involved in the
business of hydrogen and fuel cells. The CHBC is dedicated to
advancing the commercialization of hydrogen in transportation and
stationary devices to reduce emissions and dependence on foreign
oil. More information at www.californiahydrogen.org.
About Plug Power Inc.
The powerhouse in hydrogen fuel cell technology, Plug Power is
revolutionizing the industry with cost-effective solutions that
increase productivity, lower operating costs and reduce carbon
footprint. Its signature solution, GenKey, provides an
all-inclusive package for customers, incorporating GenFuel hydrogen
and fueling infrastructure, GenCare aftermarket service and either
GenDrive or ReliOn fuel cell systems. GenDrive, a lead-acid battery
replacement, is used in electric lift trucks in high-throughput
material handling applications. With more than 8,500 GenDrive units
deployed with material handling customers, GenDrive has been proven
reliable with over 107 million hours of runtime. Plug Power
manufactures tomorrow's incumbent power solutions today, so
customers can POWERAhead. Additional information about the Plug
Power brands is available at www.plugpower.com.
Plug Power Inc. Safe Harbor Statement
This communication contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995
that involve significant risks and uncertainties about Plug Power
Inc. ("PLUG"), including but not limited to statements about PLUG's
forecast of financial performance, order bookings, business model,
strategy and growth opportunities. You are cautioned that such
statements should not be read as a guarantee of future performance
or results, and will not necessarily be accurate indications of the
times at, or by which, such performance or results will have been
achieved. Such statements are subject to risks and uncertainties
that could cause actual performance or results to differ materially
from those expressed in these statements. In particular, the risks
and uncertainties include, among other things, the risk that we
continue to incur losses and might never achieve or maintain
profitability; the risk that we will need to raise additional
capital to fund our operations and such capital may not be
available to us; the risk that our lack of extensive experience in
manufacturing and marketing products may impact our ability to
manufacture and market products on a profitable and large-scale
commercial basis; the risk that unit orders will not ship, be
installed and/or converted to revenue, in whole or in part; the
risk that pending orders may not convert to purchase orders, in
whole or in part; the risk that a loss of one or more of our major
customers could result in a material adverse effect on our
financial condition; the risk that a sale of a significant number
of shares of stock could depress the market price of our common
stock; the risk that negative publicity related to our business or
stock could result in a negative impact on our stock value and
profitability; the risk of potential losses related to any product
liability claims or contract disputes; the risk of loss related to
an inability to maintain an effective system of internal controls
or key personnel; the risks related to use of flammable fuels in
our products; the cost and timing of developing, marketing and
selling our products and our ability to raise the necessary capital
to fund such costs; the ability to achieve the forecasted gross
margin on the sale of our products; the risk that our 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 our products; market acceptance of our
products, including GenDrive, ReliOn and GenKey systems; the
volatility of our stock price; our 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 our products; our ability to develop
commercially viable products; our ability to reduce product and
manufacturing costs; our ability to successfully expand our product
lines; our ability to successfully expand internationally; our
ability to improve system reliability for our GenDrive, ReliOn and
GenKey systems; competitive factors, such as price competition and
competition from other traditional and alternative energy
companies; our ability to protect our intellectual property; the
cost of complying with current and future federal, state and
international governmental regulations; risks associated with
potential future acquisitions; and other risks and uncertainties
referenced in our public filings with the Securities and Exchange
Commission. For additional disclosure regarding these and other
risks faced by PLUG, see disclosures contained in PLUG's public
filings with the Securities and Exchange Commission (the "SEC")
including, the "Risk Factors" section of PLUG's Annual Report on
Form 10-K for the year ended December 31, 2014. You should consider
these factors in evaluating the forward-looking statements included
in this presentation and not place undue reliance on such
statements. The forward-looking statements are made as of the date
hereof, and PLUG undertakes no obligation to update such statements
as a result of new information.
CONTACT: Plug Power Media Contact
Teal Vivacqua
518.738.0269
media@plugpower.com
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