LATHAM, N.Y., April 7, 2008 (PRIME NEWSWIRE) -- Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean, reliable on-site energy solutions, today announced the release of its 2007 Corporate Sustainability Report, the first such report from the Company.
The Sustainability Report details Plug Power's efforts to link its environmental and social impacts with its business strategy to benefit the financial well-being of the company. It focuses on Plug Power's backup power product, GenCore(r), and the operation of its 37-acre campus in Latham, NY, during 2006 and 2007. Plug Power believes the report is the first of its kind issued by a fuel cell company.
"For Plug Power, corporate sustainability is about social and environmental consciousness," said Roger Saillant. "But just as important is the competitive advantage, opportunity and innovation created by such awareness. Through our sustainability efforts we were able to mitigate the costs associated with energy use, resource scarcity and waste generation in order to build a more efficient organization that conserves cash on its way toward profitability and beyond."
In preparing the report, Plug Power relied on the Global Reporting Initiative (GRI) G3 Guidelines for performance benchmarking and the development of content for the report.
Erin Crotty, President of The Crotty Group, has provided ongoing support for Plug Power's sustainability efforts. The Crotty Group assists corporations in identifying and executing sustainable market growth strategies and integrating sustainability for competitive advantage.
Ceres also provided valuable guidance throughout the preparation of the report. Ceres is a leading network of investors, environmental groups and other public interest organizations that works with companies to address sustainability challenges such as global climate change. Plug Power was the first fuel cell company to gain approval as a Ceres company and officially joined the group in June 2007.
In order to conserve resources and energy, Plug Power chose not to print this report. It may be viewed online at the company's web site, plugpower.com.
About Plug Power Inc.
Plug Power Inc. (Nasdaq:PLUG), an established leader in the development and deployment of clean, reliable on-site energy solutions, integrates fuel cell technology into backup and primary power products for telecommunications, material handling, utility and uninterruptible power supply applications. The Company is actively engaged with private and public customers in targeted markets throughout the world, including North America, Europe, the Middle East, Russia, South Africa and South America. For more information about how to join Plug Power's energy revolution as an investor, customer, supplier or strategic partner, please visit www.plugpower.com.
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Plug Power Inc. Safe Harbor Statement
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to our statements regarding our growth plans. We believe that it is important to communicate our future expectations to our investors. However, there may be events in the future that we are not able to accurately predict or control and that may cause our actual results to differ materially from the expectations we describe in our forward-looking statements, including, without limitation, the risk that the anticipated synergies of the Cellex Power Products, Inc. and General Hydrogen Corp. (now amalgamated as Plug Power Canada Inc.) acquisitions are not realized; the risk that unit orders will not ship, be installed and/or convert to revenue, in whole or in part; 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 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; 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; and other risks and uncertainties discussed under "Item IA -- Risk Factors" in Plug Power's annual report on Form 10-K for the fiscal year ended December 31, 2007, filed with the Securities and Exchange Commission ("SEC") on March 17, 2008, and the reports Plug Power files from time to time with the SEC. Plug Power does not intend to and undertakes no duty to update the information contained in this communication.