CEO Andy Marsh to Speak On Growing the Country’s Leading Fuel Cell Business in the Country’s Fastest Growing Fuel Cell Corridor
LATHAM, N.Y., June 25, 2019 (GLOBE NEWSWIRE) — Plug Power Inc. (NASDAQ: PLUG), a leading provider of hydrogen engines and fueling solutions enabling e-mobility, today announced that it will participate in the 2019 Ohio Fuel Cell Symposium in Columbus, OH. The event is produced by the Ohio Fuel Cell Coalition, an organization designed to accelerate the region’s leadership in fuel cell technology. Plug Power’s CEO, Andy Marsh, will present as a keynote at the Symposium. The Ohio Fuel Cell Coalition has attracted leaders from across the industry to discover opportunities and create solutions to advance fuel cell technology businesses in the state.
At the Symposium, Mr. Marsh will speak on Plug Power’s vertical integration strategy and why it has been a crucial component to growing the business. From material handling and ground support equipment applications, to long- and short-haul delivery trucks, to autonomous vehicles and drones, Marsh explains how Plug Power stepped in to power market verticals once untouched by the possibilities of fuel cells.
Mr. Marsh’s session is open to registered forum attendees:
- Date: Thursday, June 27, 2019
- Andy Marsh Speaking Time: 9:20-9:55 AM EDT
- Location: Quest Conference Center
8405 Pulsar Place
Columbus, Oh 43240
Plug Power has a significant footprint in the State of Ohio. The company employs almost 30 employees through the state, and operates a service center in Dayton. In total, Plug Power has commissioned 1,450 GenDrive units in the state, including a long-standing deployment at Walmart’s Washington Courthouse distribution center. Every day, approximately 1,460 hydrogen fills are completed in Ohio by Plug Power customers.
Ohio has quickly become a leading state for fuel cell technology, with strong industry and academic ties to research and development, advanced manufacturing, advanced materials technology, components, and services. According to the US Department of Energy, more than $100 million in fuel cell components were purchased from Ohio supply chain companies in 2015, meaning there isn’t a fuel cell manufactured in the United States that does not include Ohio components. In addition, Ohio’s local and national congressional representatives have shown support for the industry, enabling the creation of new, clean economy jobs for the state.
About Plug Power Inc.
The architect of modern hydrogen and fuel cell technology, Plug Power is the innovator that has taken hydrogen and fuel cell technology from concept to commercialization. Plug Power has revolutionized the material handling industry with its full-service GenKey solution, which is designed to increase productivity, lower operating costs and reduce carbon footprints in a reliable, cost-effective way. The Company’s GenKey solution couples together all the necessary elements to power, fuel and serve a customer. With proven hydrogen and fuel cell products, Plug Power replaces lead acid batteries to power electric industrial vehicles, such as the lift trucks customers use in their distribution centers. Extending its reach into the on-road electric vehicle market, Plug Power’s ProGen platform of modular fuel cell engines empowers OEMs and system integrators to rapidly adopt hydrogen fuel cell technology. ProGen engines are proven today, with thousands in service, supporting some of the most rugged operations in the world. Plug Power is the partner that customers trust to take their businesses into the future. 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 expectations regarding growth in Europe, revenue, growth with GenKey customers and its project financing platform. 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 that, 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 (the “SEC”). For additional disclosure regarding these and other risks faced by PLUG, see disclosures contained in PLUG’s public filings with the SEC including, the “Risk Factors” section of PLUG’s Annual Report on Form 10-K for the year ended December 31, 2017. 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.
SOURCE: PLUG POWER
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