Plug Power CEO Andy Marsh Named Executive of the Year at 2019 Fuel Cell Seminar & Energy Exposition
LATHAM, N.Y., Nov. 06, 2019 (GLOBE NEWSWIRE) — Plug Power Inc. (NASDAQ: PLUG), a leading provider of hydrogen engines and fueling solutions enabling e-mobility, earned a special distinction this week thanks to CEO Andy Marsh, who has been named Executive of the Year at the biannual Fuel Cell Seminar and Energy Exposition. Marsh received the award today from Michael Berube, US Department of Energy Acting Deputy Assistant Secretary, Transportation, during the inaugural plenary talks of the three-day event taking place this week in Long Beach, CA.
The Executive of the Year award is presented to executives who have not only led their organizations successfully, but who have also played a decisive role in helping the growth of the overall industry. “I am deeply honored to receive this award and to be recognized by such a phenomenal organization,” said Marsh. “Over the past decade, the Fuel Cell Seminar & Energy Exposition has grown to bring together our industry’s most potent advocates, innovators, and thought-leaders. Like others in attendance today, Plug Power works diligently, every day, to further the commercialization of hydrogen and fuel cell solutions in our country and around the world, I’m very proud to be recognized among my distinguished peers.”“Mr. Marsh has guided Plug Power’s and market sector growth in materials handling and backup power, and is now expanding into other industrial applications. Marsh also continues to serve as a prominent voice for, and booster of the industry,” said Morry Markowitz, President of the Fuel Cell and Hydrogen Energy Association (FCHEA) and member of the FCS&EE Board.As a leader in hydrogen fuel cell technology, Plug Power will play a prominent role in this year’s Fuel Cell Seminar & Energy Exposition. The Company is showcasing its commercial solutions on site at the Long Beach Convention & Entertainment Center, offering attendees a first-hand look at some of its most successful products, including a pallet jack outfitted with a GenDrive fuel cell and GenFuel hydrogen dispenser. The Plug Power display highlights the traction the company has gained in the industrial mobility marketplace – its products providing power in more than 28,000 pieces of material handling equipment, which have been fueled with hydrogen more than 23 million times by tier-1 customers including Walmart, Amazon and The Home Depot. The showcase is situated in the exhibit hall’s main product display area alongside other large-scale showings presented by fellow hydrogen economy leaders like Hexagon and Toyota.Plug Power CEO Andy Marsh will be a featured speaker during the November 6th morning plenary sessions. He is slated to take the stage at 11:30 a.m. to deliver a solo presentation on Plug Power’s successes in industrial mobility markets, including the material handling space, as well as its recent expansion into on-road vehicle applications in the United States and Europe, with partners including FedEx and DHL.Founded in 1976, the biannual Fuel Cell Seminar & Energy Exposition is the longest running fuel cell industry conference in the United States. The event attracts hundreds of international manufacturers, fuel providers, customers, policy makers, supply chain leaders, integrators, academics, investors, media, and other stakeholders interested in learning more about the latest developments in the industry.The 2019 Fuel Cell Seminar & Energy Exposition is comprised of an immersive series of talks and workshops highlighting the latest fuel cell and hydrogen products, technical and market research, policy updates, and commercialization strategies across all applications and market sectors. A number of notable public figures have signed on to participate in this week’s activities, including Apple CEO Tim Cook, who was involved in Tuesday’s H2@ Scale workshop.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. 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 expectations regarding growth in Europe, revenue, growth with GenKey customers and its project financing platform. 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 that, 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 (the “SEC”). For additional disclosure regarding these and other risks faced by PLUG, see disclosures contained in PLUG’s public filings with the SEC including, the “Risk Factors” section of PLUG’s Annual Report on Form 10-K for the year ended December 31, 2017. 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.SOURCE: PLUG POWER
Media Contact Ian Martorana
The Bulleit Group