LATHAM, N.Y., June 19, 2013 (GLOBE NEWSWIRE) -- Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean, reliable energy solutions, today announced that President and CEO, Andy Marsh, will be presenting today, June 19, 2013, at the Hydrogen + Fuel Cells 2013 (HFC2013) conference at the Vancouver Convention Centre, where this year's theme is "Power, Transportation & Energy Storage: An Industry on the Move."
HFC2013 is an international tradeshow for the hydrogen and fuel cell technology industry. It is expected that more than 1,000 delegates will be in attendance from 50-plus countries, including Canada, Germany, US, Japan, Korea and China. The event features prominent industry and government leaders as keynote speakers, as well as sessions focusing on key issues and new initiatives within the sector.
Marsh's presentation, entitled "Moving Product with Fuel Cells," will be part of the Plenary 5: End-User Forum being held in Ballroom A from 8:30-10:00 am today. Marsh will discuss Plug Power's background and current strategic plans, and will provide insight into the rapidly growing opportunities for worldwide adoption of environmentally friendly power solutions such as hydrogen-based fuel cells, in the material handling industry and beyond.
Marsh plans and directs all aspects of Plug Power's policies and objectives. He is focused on leveraging Plug Power's technological expertise, talented people and sales growth to position the company as a leader in the future alternative energy economy. A member of the Board of Directors for the California Hydrogen Business Council, a non-profit group comprised of organizations and individuals involved in the business of hydrogen. Previously, Marsh was the co-founder and CEO of Valere Power, a company that revolutionized the powering of broadband networks. He also had a distinguished career at Lucent Technologies, marketing and developing advanced power products.
Plug Power is a trailblazer in the development and production of PEM fuel cells that use hydrogen and oxygen to create energy. Founded in 1997, the company has been expanding its reach with clients that have large material distribution centers in three major market segments: food distribution, retail and manufacturing. Plug Power currently has 44 total site deployments, including BMW Manufacturing in South Carolina, which operates the largest hydrogen fuel cell fleet in North America at its 4 million square foot production facility. Details of this highly impressive and successful implementation will be included in the presentation. A video overview of the BMW site can also be seen on the Plug Power homepage at www.plugpower.com.
"Plug Power is fully committed to meeting the needs of end-users who are looking for clean, sustainable solutions for powering their production equipment," said Andy Marsh, Plug Power president and CEO. "I am happy to share my vision of a hydrogen-powered future that has a positive environmental impact, eliminates the need for lead-acid batteries, improves operational efficiency and productivity, and provides a strong return on investment."
About Plug Power Inc.
The architects of modern fuel cell technology, Plug Power is revolutionizing the industry with cost-effective power solutions that increase productivity, lower operating costs and reduce carbon footprints. Long-standing relationships with industry leaders forged the path for Plug Power's key accounts, including Walmart, Sysco, P&G and Mercedes. With more than 4,000 GenDrive units deployed to material handling customers, accumulating over 10 million hours of runtime, Plug Power manufactures tomorrow's incumbent power solutions today. Additional information about Plug Power 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.These statements are based on current expectations that are subject to certain assumptions, risks and uncertainties, any of which are difficult to predict, are beyond our control and that may cause our actual results to differ materially from the expectations in our forward-looking statements including, but not limited to: the risk that we continue to incur losses and might never achieve or maintain profitability, the risk that we expect we will need to raise additional capital to fund our operations and such capital may not be available to us; 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; the risk that our continued failure to comply with NASDAQ's listing standards may severely limit our ability to raise additional capital; the cost and timing of developing 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 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 GenDrive systems; 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 improve system reliability for our GenDrive 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; and other risks and uncertainties discussed, but are not limited to, those set forth in (i) "Item IA-Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2011, filed with the Securities and Exchange Commission ("SEC") on March 30, 2012 and (ii) in our quarterly report on Form 10-Q for the quarter ended September 30, 2012 filed with the SEC on November 14, 2012, as well as in the other reports we file from time to time with the SEC. We do not intend to, and undertake no duty to; update any forward-looking statements as a result of new information or future events.