Plug Power CEO Andy Marsh Featured Speaker at Wuhan Innovation Summit in China
September 20 2016 - 7:00AM
Plug Power Inc. (NASDAQ:PLUG), a leader in providing energy
solutions that change the way the world moves, announces that CEO
Andy Marsh will take center stage today as a featured speaker at
the Wuhan HOME Innovation Summit. The summit is held in Wuhan,
China, the capital city of Hebei province and home to China’s 2nd
largest auto maker Dongfeng Motor Corporation.
Mr. Marsh’s talk will be given during the
conference session “Hydrogen Powered Vehicles: Hydrogen Energy
Changes Life and Future.” During this presentation, titled “Clean,
Commercial Energy Solutions for Mobility,” Mr. Marsh will highlight
how Plug Power’s GenKey hydrogen and fuel cell solutions are
currently powering more than 13,000 electric vehicles today in the
industrial mobility market, and have powered industrial vehicles
for more than 120 million hours in real-world applications.
Plug Power’s success in today’s hydrogen and fuel
cell market sets the stage for the industry’s direction over the
next quarter century, not just in North America, but globally, as
the world becomes more innovative, efficient and
environmentally-conscious. Plug Power’s advanced and proven
technology is primed to make inroads into other electric vehicle
applications, like buses, taxis, fleet cars and utility
vehicles. These captive and tethered vehicle fleets have the
ability to make use of centralized hydrogen solutions similar to
those delivered by Plug Power to its current industrial vehicle
customers.
“Plug Power has proven the only viable, commercial
application for widespread adoption of hydrogen engines today, a
model that can translate into adoption in the Chinese market to
meet internationally-set sustainable development goals,” said Andy
Marsh, CEO for Plug Power. “Plug Power’s hydrogen fuel cell
solutions offer an environmentally-friendly option to power motive
applications, producing only heat and water as byproducts of energy
creation.”
During the Summit, Mr. Marsh will meet with Mr.
Wan, Mayor of Wuhan, in a closed-door session to discuss Plug
Power’s existing and planned collaborations with several local
business partners. Mr. Wan is expected to give Mr. Marsh an
overview of the Wuhan Hydrogen Working Group and the 500 million
Chinese Yuan Wuhan Hydrogen Fund, set up to support local hydrogen
initiatives, including fuel cell vehicles, hydrogen generation and
storage, and hydrogen infrastructures.
The Summit is sponsored by the Chinese Association
of Science & Technology (CAST) and Hubei provincial government,
and organized by Global Talents and Entrepreneurship Center (Wuhan)
and the municipal government of Wuhan. Mr. Shenglian Guo,
Lieutenant Governor of Hubei Province, will open the summit,
followed by a keynote speech from Mr. Yong Shang, CAST Vice
President.
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
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 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
Plug Power (NASDAQ:PLUG)
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