Plug Power Applauds President Obama For His Support Of Alternative Energy Solutions For The U.S.
LATHAM, N.Y., Jan. 26, 2011 (GLOBE NEWSWIRE) -- Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean, reliable energy solutions, reflects on the positive impact the company has seen in job creation due to President Obama's support of important tax legislation and the continued commercialization of clean energy solutions. As discussed in the State of the Union address on January 25, 2011, Congress has provided and extended important tax credits which help create green jobs and sell green energy within the United States and abroad.
"In the nation's effort to achieve energy independence, hydrogen fuel cells have emerged as a promising solution, developed and manufactured right here in Upstate New York," said Andy Marsh, CEO at Plug Power. "With progressive policy in place to level the playing field, institutional roadblocks standing in the way of broader market adoption for clean and efficient energy can be overcome. Plug Power applauds President Obama and his administration for seeing the correlation between alternative energy and job growth, economic upturn and environmental progress."
Specific to Plug Power's business, the company has been able to add 20 new manufacturing jobs to its facility in Latham, NY where its GenDrive fuel cell units are completely manufactured. As the leader in the alternative energy space, Plug Power has brought the innovation of fuel cell products from research and development to commercial implementation. Plug Power has set the bar for hydrogen and fuel cell technology especially in the material handling space where the company has over 1,000 units in the field today. Plug Power currently has an 85% market share in the fuel cell powered material handling industry and is transforming the U.S. fuel cell manufacturing industry into a globally competitive force that will lead to the export, rather than the import, of these innovative energy products.
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