Plug Power Identifies SouthernLINC Wireless as Multi-Year ReliOn Fuel Cell Customer
January 05 2015 - 7:00AM
Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean,
reliable energy solutions, today announced that it has executed a
multi-year contract with SouthernLINC Wireless, a wholly-owned
subsidiary of Southern Company, for its ReliOn integrated fuel cell
solution and GenFuel hydrogen services.
Plug Power will provide ReliOn integrated backup power fuel cell
solutions to SouthernLINC Wireless for use in its wireless network,
which supports Southern Company's communication needs and provides
a wireless communications network for customers. Southern Company
is an Atlanta-based energy company serving 4.4 million customers in
the Southeastern United States.
SouthernLINC Wireless anticipates deploying as many as 500 new
LTE sites utilizing the Plug Power ReliOn integrated solution,
which includes fuel cell systems and bulk refillable hydrogen
storage, DC plant rectifiers and distribution, battery technology
and space for radio equipment, in an environmentally-hardened
outdoor cabinet.
Plug Power's hydrogen fuel cell-based backup power system, known
as ReliOn, supplements batteries and replaces diesel-fuel
generators used for backup power applications. The integrated
system provides a complete communications equipment shelter and a
highly reliable, clean, cost-effective grid and backup power system
for 24x7 operations. The system enables rapid deployment while
requiring only a fraction of the footprint required by previous
solutions.
"Plug Power looks forward to working with the SouthernLINC
Wireless team in the coming years to provide a robust
ReliOn-powered wireless communications network at approximately 500
new sites," said Andy Marsh, CEO at Plug Power. "In turn,
SouthernLINC will be well equipped to deliver reliable power and
communications to customers no matter what weather challenges come
their way."
The ReliOn product was successfully demonstrated with Southern
Company prior to being awarded the contract.
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 6,000 GenDrive units
deployed to material handling customers, GenDrive has been proven
reliable with over 25 million hours of runtime. And, ReliOn is Plug
Power's modular, scalable fuel cell for customers seeking solutions
in critical stationary power applications. Plug Power ReliOn
customers have installed fuel cells at more than 2,500 customer
locations globally. 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, 2013. 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: Media Contacts
Sandra Saathoff
509.228.6553
ssaathoff@plugpower.com
Teal Vivacqua
518.738.0269
media@plugpower.com
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