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Plug Power's GenDrive units will be commissioned at the U.S. Army's Forces Command in Fort Lewis, Washington where they will power a fleet of sit-down counterbalanced lift trucks.
The two-year project will study and assess the use of wastewater treatment plant digester gas as a hydrogen source for fuel cells. The hydrogen created will power the fuel cell forklifts used for heavy maintenance work at Fort Lewis.
Under the project, Plug Power will receive approximately $1.5 M in funding to supply 19 fuel cell units as well as expertise in system integration, training, service and support for 24 months. The GenDrive power units will be commissioned at Fort Lewis during the third quarter of 2010.
"When compared to lead acid batteries, Plug Power's GenDrive fuel cells offer customers proven economic, operational and environmental benefits," said Andy Marsh, CEO at Plug Power. "This Army site demonstration project will provide an opportunity to run our products under rigorous, real-world conditions, adding to the mounting evidence in support of the commercial viability of hydrogen fuel cells."
About Plug Power Inc.
Plug Power Inc. (Nasdaq:PLUG - News), 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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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
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