Plug Power Named To Internationally Respected Hydrogen Council As Supporting Member

LATHAM, N.Y., Sept. 08, 2017 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ:PLUG), a leader in providing energy solutions that change the way the world moves, has been named to the Hydrogen Council as a supporting committee member. The Hydrogen Council is organized around the important initiative to shape the role of hydrogen in the energy mix of the future.

The international council is currently comprised of sixteen members, including Air Liquide, Audi, BMW GROUP, Daimler, Toyota and Royal Dutch Shell. "I'd like to thank the Hydrogen Council for giving Plug Power a seat at the table," said Andy Marsh. "We come with the experience of pioneering a hydrogen and fuel cell market for electric vehicles with material handling professionals. Currently, Plug Power has deployed more than 16,000 fuel cells for powering electric lift trucks and has built more than 52 hydrogen stations in North America and Europe. These hydrogen stations have supported more than 7.9 million refuelings, consisting of 4.9 million kilograms of hydrogen dispensed."

Launched at the World Economic Forum 2017 in Davos, the growing coalition of 16 CEOs have the ambition to:
  • Accelerate their investment in the development and commercialization of the hydrogen and fuel cell sectors
  • Encourage key stakeholders increase their backing of hydrogen as part of the future energy mix with appropriate policies and supporting schemes.

As part of the global drive to electrification, Plug Power has entered new electric vehicle markets, specifically ground support equipment and electric delivery vans. These applications and others promote the advancement of hydrogen fueling and accelerate commercialization of hydrogen-fueled products.

A majority of Plug Power's end-user hydrogen fueling stations are deployed within the material handing industry. Fuel cell-powered lift trucks use hydrogen as a fuel source - seeing increased productivity, reduced operational costs and lower site greenhouse gas emissions as a result.

The Council looks to increase activities over the course of their inaugural year, beginning with an upcoming Investor Day, to be held on the afternoon of September 18th in New York, in parallel with the Sustainable Investment Forum, the largest finance-focused event taking place during New York Climate Week in September 2017. This event will engage both investors and key financing players within hydrogen markets and stimulate a conversation around the potential offered by the implementation of hydrogen deployment solutions at scale.

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.

About the Hydrogen Council:In the first global initiative of its kind, the Hydrogen Council is determined to position hydrogen among the key solutions of the energy transition. Hydrogen is a versatile energy carrier with favourable characteristics since it does not release any CO2 at the point of use as a clean fuel or energy source, and can play an important role in the transition to a clean, low-carbon, energy system. Hydrogen technologies and products have significantly progressed over past years and are now being introduced to the market. The Council will work with, and provide recommendations to, a number of key stakeholders such as policy makers, business and hydrogen players, international agencies and civil society to achieve these goals.

The Hydrogen Council's member companies - who collectively represent total revenues of over € 1.3 trillion and more than 2.06 million employees around the world 1 - include: Air Liquide, Alstom, Anglo American, Audi, BMW GROUP, Daimler, ENGIE, Faber Industries, Faurecia, First Element Fuel (True Zero), Gore, Honda, Hyundai Motor, Iwatani, Kawasaki, Mitsui & Co, Plastic Omnium, Plug Power, Royal Dutch Shell, Statoil, The Linde Group, Total, Toyota and Toyota Tsusho.


1  Company figures from financial years 2015 and 2016

Plug Power Media Contact Teal Vivacqua media@plugpower.comPlug Power Investor Relations ContactJohn

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