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Plug Power Enhances Leadership Team To Support Growth Strategy

Stocks in this article: PLUG

LATHAM, N.Y., Oct. 29, 2013 (GLOBE NEWSWIRE) -- Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean, reliable energy solutions, today announced additions to its board of directors and senior management team to support its ongoing growth strategy, as the company moves toward expansion of its hydrogen fuel cell business both in its core material handling market and in adjacent markets.

Mr. Xavier Pontone, Managing Director of Air Liquide Advanced Business, joins Plug Power as a director on the board of directors, and brings with him a wide range of operations and new business development experience. Pontone currently leads a team that develops new growth opportunities for the Air Liquide group, with a focus on hydrogen mobility, biogas, and energy transition. Pontone also sits on the board of directors of HyPulsion, the company's joint venture with Plug Power, and is very active in expanding the market opportunity for hydrogen-powered material handling vehicles throughout Europe. Pontone previously served as Manager of Operations Control Center of Air Liquide Industries, where he managed operations of 12 large industrial gas (O 2, N 2, H 2 and CO) product networks.

Also joining the board of directors is Dr. Gregory Kenausis, Founding Partner and Chief Investment Officer at Grand Haven Capital AG. Dr. Kenausis brings a wealth of investment, technology and business development experience to Plug Power. Based in Zurich, Switzerland, Dr. Kenausis has extensive responsibilities, from business concept development to financial model construction to investment decision-making. He holds multiple patents and has been published in several distinguished research publications. Dr. Kenausis holds a Ph.D. in Chemical Engineering from the University of Texas at Austin.

"Mr. Pontone and Dr. Kenausis bring a unique set of capabilities to the board of directors," said George McNamee, Chairman of the Plug Power Board. "These skills will become critical to Plug Power's execution of our operational strategy as our business opportunities expand."

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