LATHAM, N.Y. and DAYTON, Ohio, Oct. 12, 2016 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG ), a leader in providing energy solutions that change the way the world moves, today celebrates its new Dayton, OH service center by hosting a ribbon-cutting ceremony – bringing green jobs and innovation to the Dayton-metro area, and expanding service capabilities to Ohio customers, including Walmart, Ace Hardware, Home Depot and Honda.
The state-of-the-art monitoring system in Dayton specifically monitors hydrogen dispensing infrastructures across the globe. Plug Power utilizes Internet of Things (IoT) technology throughout its systems to maximize customer productivity and uptime of their industrial truck fleet. Dayton supports around-the-clock monitoring of more than 35 GenFuel hydrogen fueling stations and 137 hydrogen dispensers.
The Dayton service center is staffed with 10 employees, with 50% growth expectation, and is responsible for parts and maintenance for GenDrive fuel cell units in the mid-west region and GenFuel stations throughout the nation.
Today in Ohio, there are more than 850 electric fuel cell vehicles powered by Plug Power’s GenDrive fuel cell solution. Customers have deployed four full GenFuel fueling stations, and customers perform more than 1,000 fuelings per day. The full Plug Power workforce across Ohio is in excess of 25 employees. These metrics continue to grow as customer concentration in the state increases.
The ceremony program includes remarks form local and national dignitaries focused on job creation and technology solutions brought to Ohio by Plug Power. Expected in attendance are West Carrollton Mayor, Jeff Sanner, Ohio House Representative, Niraj Antani (R-OH 42 nd District), and representatives from the offices of U.S. Senator Sherrod Brown (D-OH) and U.S. Representative Mike Turner (R-OH 10th District).
"I’m excited to celebrate the opening of Plug Power's new service center in my district," Antani said. "If we are going to stay competitive, we need new technology like this and new technology jobs like Plug Power will be creating. It is private industry that will foster this new technology and job creation, and I hope we at the state level can continue to set a business friendly economic climate so that companies like Plug Power can thrive."
Congressman Turner commented, “I would like to congratulate Plug Power on being the first hydrogen fuel cell service center in the Midwest. Thank you for choosing Dayton as the home of your new service center and bringing jobs and innovation to the Miami Valley.”
West Carrolton Mayor, Jeff Sanner comments, "West Carrollton is thrilled to welcome Plug Power into our city. We know this company is already providing clean and reliable energy, and we're excited to greet the 10 new employees here today, and the 50% more expected to join in the coming months."
Plug Power executives will also be joined at today’s ribbon cutting ceremony by industry advocates, including Bud DeFlaviis, Director of Government Affairs for the Fuel Cell and Hydrogen Energy Association, Pat Valente, Executive Director of the Ohio Fuel Cell Coalition, and Stephanie Precht, Dayton Area Chamber of Commerce Director of Public Policy and Economic Development.
"Businesses across the country are embracing fuel cell technologies for their reliability, durability, and efficient operations; and companies like Plug Power are leading the way in this endeavor," said Bud DeFlaviis. “Thankfully, local, state and federal policymakers, regardless of political affiliation, also see the tremendous opportunity that these technologies present as we look to use our resources more wisely and improve our daily lives.”
“We’re excited to be joined today by our Country and Ohio’s industry leadership as we celebrate the opening of our first regional service center,” said Joe Blanchard, Vice President of Service for Plug Power. “This state continues to foster innovation and adoption, and it’s encouraging to see the active participation by industry advocates as we grow this business across the globe.”
“We thank the State of Ohio, the City of Dayton and the Dayton Chamber of Commerce, and our Congressional representative for welcoming our new service center to the area,” said Tim Terrill, Plug Power’s Director of Service and Manager of the Dayton Service Center. “We’re excited to be able to bring new green tech jobs to the technical, service and veteran workforce in Ohio, in our continued commitment to innovative solutions that enable us to provide guaranteed 97% uptime at customer sites.”
“We are excited to welcome Plug Power to the Dayton area. Our region has seen big growth in several technology fields, so we know the connections to be made, here through the chamber, will serve the company well into the future. We’re proud that a business that’s making large strides in the clean energy industry would choose to grow in the Dayton region,” said Phil Parker, President and CEO, Dayton Area Chamber of Commerce.
Plug Power and the fuel cell industry recently celebrated National Hydrogen and Fuel Cell Day on October 8, and sees this ceremony as an extension of support activities. The United States Senate recently passed a resolution recognizing the importance of the technology to address key energy, environmental and economic issues in the United States.
About Plug Power Inc. The architects of modern hydrogen and fuel cell technology, Plug Power has revolutionized the industry with its simple GenKey solution, elements of which are designed to increase productivity, lower operating costs and reduce carbon footprints in a reliable, cost-effective way. Plug Power’s GenKey solution couples together all the necessary elements to power, fuel and service a customer. Plug Power is the partner that customers trust to take their businesses into the future. For more information about Plug Power, visit 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 2016 objectives, including goals relating to revenue, sales, booking, gross and GenFuel installations, and the GenFund Power-Purchase Agreement program. 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 at, 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. For additional disclosure regarding these and other risks faced by PLUG, see disclosures contained in PLUG's public filings with the Securities and Exchange Commission (the "SEC") including, the "Risk Factors" section of PLUG's Annual Report on Form 10-K for the year ended December 31, 2015. 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.
Media and Investor Relations Contact: Teal Vivacqua Plug Power Inc. Phone: 518.738.0269
