LATHAM, N.Y., May 19, 2009 (GLOBE NEWSWIRE) -- Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean, reliable energy solutions, will hold its annual shareholder meeting on May 20, 2009 at 10:00 ET at the New York Times Building in New York City. The Company's CEO, Andy Marsh, will provide the board of directors and shareholders highlights of Plug Power's success in 2008 as well as an overview of the Company's strategy. Marsh was appointed as CEO in April of 2008.
Marsh led Plug Power's transition into a sales and marketing-driven organization during his first year with the Company. In 2008, Marsh identified Plug Power's GenDrive(tm) material handling product and GenSys(r) prime power product as immediate drivers of future revenue for the Company. His presentation will identify key opportunities for Plug Power's fuel cell solutions within the material handling, prime and residential power markets.
"Plug Power realized great success with major commercial customers in 2008," said Marsh. "Specifically in the material handling space, customers such as Wal-Mart, Bridgestone Firestone, Central Grocers and Nestle Waters have experienced the increased productivity offered by our GenDrive product. We will continue to provide proven solutions to customers throughout the upcoming year, reducing their operating costs and their carbon footprint."
Following a brief question and answer session, Marsh will be available to meet with shareholders and investors, which will conclude the business meeting. A webcast of the meeting can be accessed by going to the Investors section of the Plug Power Web site (www.plugpower.com) and selecting the appropriate link on the Presentations page. The webcast will be archived online for a short period following the meeting.
About Plug Power Inc.
Plug Power Inc. (Nasdaq:PLUG), an established leader in the development and deployment of clean, reliable energy solutions, integrates fuel cell technology into motive, continuous and backup power products. The Company is actively engaged with private and public customers in targeted markets throughout the world. 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 statements regarding our growth plan. 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 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 energy products; the cost and timing of developing Plug Power's energy products; market acceptance of Plug Power's energy products; Plug Power's ability to manufacture 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 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; the cost and availability of fuel and fueling infrastructures for Plug Power's energy products; Plug Power's ability to protect its Intellectual Property; Plug Power's ability to lower the cost of its 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 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, 2008, filed with the Securities and Exchange Commission ("SEC") on March 16, 2009, 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.