Plug Power Inc. (NASDAQ:PLUG), a leader in providing energy
solutions that change the way the world moves, today celebrates its
new Dayton, OH service center by hosting a ribbon-cutting ceremony
– bringing green jobs and innovation to the Dayton-metro area, and
expanding service capabilities to Ohio customers, including
Walmart, Ace Hardware, Home Depot and Honda.
The state-of-the-art monitoring system in Dayton
specifically monitors hydrogen dispensing infrastructures across
the globe. Plug Power utilizes Internet of Things (IoT) technology
throughout its systems to maximize customer productivity and uptime
of their industrial truck fleet. Dayton supports around-the-clock
monitoring of more than 35 GenFuel hydrogen fueling stations and
137 hydrogen dispensers.
The Dayton service center is staffed with 10
employees, with 50% growth expectation, and is responsible for
parts and maintenance for GenDrive fuel cell units in the mid-west
region and GenFuel stations throughout the nation.
Today in Ohio, there are more than 850 electric
fuel cell vehicles powered by Plug Power’s GenDrive fuel cell
solution. Customers have deployed four full GenFuel fueling
stations, and customers perform more than 1,000 fuelings per day.
The full Plug Power workforce across Ohio is in excess of 25
employees. These metrics continue to grow as customer concentration
in the state increases.
The ceremony program includes remarks form local
and national dignitaries focused on job creation and technology
solutions brought to Ohio by Plug Power. Expected in attendance are
West Carrollton Mayor, Jeff Sanner, Ohio House Representative,
Niraj Antani (R-OH 42nd District), and representatives from the
offices of U.S. Senator Sherrod Brown (D-OH) and U.S.
Representative Mike Turner (R-OH 10th District).
"I’m excited to celebrate the opening of Plug
Power's new service center in my district," Antani said. "If we are
going to stay competitive, we need new technology like this and new
technology jobs like Plug Power will be creating. It is private
industry that will foster this new technology and job creation, and
I hope we at the state level can continue to set a business
friendly economic climate so that companies like Plug Power can
thrive."
Congressman Turner commented, “I would like to
congratulate Plug Power on being the first hydrogen fuel cell
service center in the Midwest. Thank you for choosing Dayton
as the home of your new service center and bringing jobs and
innovation to the Miami Valley.”
West Carrolton Mayor, Jeff Sanner comments,
"West Carrollton is thrilled to welcome Plug Power into our city.
We know this company is already providing clean and reliable
energy, and we're excited to greet the 10 new employees here today,
and the 50% more expected to join in the coming months."
Plug Power executives will also be joined at
today’s ribbon cutting ceremony by industry advocates,
including Bud DeFlaviis, Director of Government Affairs for the
Fuel Cell and Hydrogen Energy Association, Pat Valente, Executive
Director of the Ohio Fuel Cell Coalition, and Stephanie Precht,
Dayton Area Chamber of Commerce Director of Public Policy and
Economic Development.
"Businesses across the country are embracing
fuel cell technologies for their reliability, durability, and
efficient operations; and companies like Plug Power are leading the
way in this endeavor," said Bud DeFlaviis. “Thankfully,
local, state and federal policymakers, regardless of political
affiliation, also see the tremendous opportunity that these
technologies present as we look to use our resources more wisely
and improve our daily lives.”
“We’re excited to be joined today by our Country
and Ohio’s industry leadership as we celebrate the opening of our
first regional service center,” said Joe Blanchard, Vice President
of Service for Plug Power. “This state continues to foster
innovation and adoption, and it’s encouraging to see the active
participation by industry advocates as we grow this business across
the globe.”
“We thank the State of Ohio, the City of Dayton
and the Dayton Chamber of Commerce, and our Congressional
representative for welcoming our new service center to the area,”
said Tim Terrill, Plug Power’s Director of Service and Manager of
the Dayton Service Center. “We’re excited to be able to bring new
green tech jobs to the technical, service and veteran workforce in
Ohio, in our continued commitment to innovative solutions that
enable us to provide guaranteed 97% uptime at customer sites.”
“We are excited to welcome Plug Power to the
Dayton area. Our region has seen big growth in several technology
fields, so we know the connections to be made, here through the
chamber, will serve the company well into the future. We’re proud
that a business that’s making large strides in the clean energy
industry would choose to grow in the Dayton region,” said Phil
Parker, President and CEO, Dayton Area Chamber of Commerce.
Plug Power and the fuel cell industry recently
celebrated National Hydrogen and Fuel Cell Day on October 8, and
sees this ceremony as an extension of support activities. The
United States Senate recently passed a resolution recognizing the
importance of the technology to address key energy, environmental
and economic issues in the United States.
About Plug Power
Inc. The architects of
modern hydrogen and fuel cell technology, Plug Power has
revolutionized the industry with its simple GenKey solution,
elements of which are designed to increase productivity, lower
operating costs and reduce carbon footprints in a reliable,
cost-effective way. Plug Power’s GenKey solution couples together
all the necessary elements to power, fuel and service a customer.
Plug Power is the partner that customers trust to take their
businesses into the future. For more information about Plug Power,
visit www.plugpower.com.
Safe Harbor StatementThis
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
2016 objectives, including goals relating to revenue, sales,
booking, gross and GenFuel installations, and the GenFund
Power-Purchase Agreement program. 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, GenSure 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, GenSure 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, 2015. 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.
Media and Investor Relations Contact:
Teal Vivacqua
Plug Power Inc.
Phone: 518.738.0269
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