Plug Power Receives California Multiple Awards Listing
Enables California State Agencies to Purchase GenCore® Backup Fuel Cell Systems
LATHAM, N.Y. – NOVEMBER 29, 2005 -- Plug Power Inc. (NASDAQ: PLUG), a leading provider of clean, reliable on-site energy, announced today that the Company’s GenCore® 5kW backup fuel cell system is now available through a California Multiple Awards Schedule contract through the State of California’s Department of General Services Procurement Division.
The GenCore has been listed under the classifications of Power Protection – UPS and Power Supply under contract number 4-05-61-0008A. This listing will allow state agencies to purchase the GenCore backup fuel cell systems directly from the California Multiple Awards Schedule under a pre-negotiated contract.
“Plug Power is the first fuel cell company to be listed on the State of California Multiple Awards Schedule,” said Mark Sperry, Plug Power’s Chief Marketing Officer. “This contract streamlines the purchasing process within the state, which should aid in accelerating the deployment of our GenCore products into critical state-operated infrastructure sites requiring backup power.”
This California Multiple Awards Schedule complements Plug Power’s recent contractual agreements in Florida, Texas and New York, as well as with the U.S. General Services Administration, making GenCore available for purchase by federal and state agencies, municipalities and not-for-profits.
The GenCore® product line includes backup power products for the telecommunication, cable broadband, uninterruptible power supply and electric utility markets. The hydrogen-fueled GenCore 5-kilowatt backup fuel cell system is available in seven configurations to serve the broad needs of these applications.
About Plug Power
Plug Power Inc. is an established leader in the deployment of clean, reliable, on-site energy products. More than 550 Plug Power fuel cell systems have been delivered to customers worldwide in commercial, public sector, telecommunications, utility and uninterruptible power supply markets. For more information about how you can join Plug Power’s energy revolution as an investor, customer, supplier or strategic partner, please visit www.plugpower.com.
This press release may contain statements, which are not historical facts and are considered forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements contain projections of Plug Power’s future results of operations, Plug Power’s product development expectations or of Plug Power’s financial position or state other forward-looking information. In some cases you can identify these statements by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will” and “would” or similar words. You should not rely on forward-looking statements because Plug Power’s actual results may differ materially from those indicated by these forward-looking statements as a result of a number of important factors. These factors include, but are not limited to, Plug Power’s ability to develop commercially viable on-site energy products; the cost and timing of developing Plug Power’s on-site energy products; market acceptance of Plug Power’s on-site energy products; Plug Power’s reliance on its relationship with certain affiliates of General Electric (GEFCS); Plug Power’s ability to perform on its multi-generation product plan in a manner satisfactory to GEFCS; Plug Power’s ability to manufacture on-site energy products on a large-scale commercial basis; competitive factors, such as price competition and competition from other traditional and alternative energy companies; the cost and availability of components and parts for Plug Power’s on-site energy products; the ability to raise and provide the necessary capital to develop, manufacture and market Plug Power’s on-site energy products; Plug Power’s ability to establish relationships with third parties with respect to product development, manufacturing, distribution and servicing and the supply of key product components; Plug Power’s ability to protect its intellectual property; Plug Power’s ability to lower the cost of its on-site energy products and demonstrate their reliability; the cost of complying with current and future governmental regulations; the impact of deregulation and restructuring of the electric utility industry on demand for Plug Power’s on-site energy products; fluctuations in the trading price and volume of Plug Power’s common stock and other risks and uncertainties discussed under the heading “Factors Affecting Future Results” in Plug Power’s annual report on Form 10-K for the fiscal year ended December 31, 2004, dated March 15, 2005, and filed with the Securities Exchange Commission on March 15, 2005, and the reports Plug Power files from time to time with the Securities and Exchange Commission. Plug Power does not intend to and undertakes no duty to update the information contained in this press release.
The information on this page was created by the company identified above. Hydrogen Now! does not endorse or substantiate this information and assumes no obligation for this content's accuracy.