LATHAM, N.Y., Oct. 26, 2010 (GLOBE NEWSWIRE) -- Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean, reliable energy solutions, today announced that it has licensed the intellectual property (IP) relating to its stationary power products, GenCore ® and GenSys ®, to IdaTech plc on a non-exclusive basis. As part of the transaction, Plug Power also sold inventory, equipment and certain other assets related to its stationary power business. Plug Power currently has over 140 patents and maintains ownership of, and the right to use, the patents and other intellectual property licensed to IdaTech. Total consideration for the licensing and assets was $5 million.
Plug Power Licenses Stationary Power Technology To IdaTech
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