LATHAM, N.Y., Nov. 1, 2011 (GLOBE NEWSWIRE) -- Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean, reliable energy products, today congratulates its Chief Technology Officer, Adrian Corless, for being recognized with an award at the 2011 Fuel Cell Seminar and Exposition (FCS&E).
The FCS&E Awards are delivered by the Technical Program Committee annually to those who have demonstrated significant leadership in promoting the overall advancement of fuel cell technology. Mr. Corless has been recognized for both his research and development accomplishments as well as his promotion of the partnerships that advance the research and development, commercialization and implementation of fuel cells.
Mr. Corless is currently responsible for the technology and product development at Plug Power as well as guiding its intellectual property portfolio. Most recently, he has led expansion of Plug Power's GenDrive® product offering, building the suite from two products to ten since 2008. Engineering design strategies implemented by Mr. Corless and his team have resulted in continued improvements in product reliability and cost, leading to rapid growth in fuel cell sales and deployments.
Mr. Corless began his career in hydrogen fuel cell technology in 1996. When reflecting on his tenure in the industry, Mr. Corless commented, "I've been personally and professionally invested in the hydrogen fuel cell arena for over 15 years. I'm honored to be part of the team that will grow Plug Power into a large, profitable, innovative market leader of the fuel cell industry. Plug Power products are distinguished for their performance and quality and our development plans will continue to mirror our customer needs."
Corless continued, "I'm thankful to the Fuel Cell Seminar and Exposition Awards committee for honoring me as an industry leader and hope to continue driving fuel cell innovations as these solutions become a very real piece of a globally sustainable future."
"Having an innovator and visionary like Adrian as part of the Plug Power team has allowed us to take an emerging technology and transform it into a real, economically viable business that has commercial traction," said Andy Marsh, CEO at Plug Power Inc. "We congratulate Adrian on his recognition in the fuel cell industry and thank him for the dedication and perseverance he brings to our business every day."
The Fuel Cell Seminar, founded in 1976, has grown along with the industry in terms of the numbers of participants; the numbers of demonstrations of fuel cells; and the state-of-the-art of the technology. With exhibitors from Canada, Germany, Israel, Japan, Sweden, Taiwan, the UK, and the US, the 2011 Exposition provides attendees with a global perspective of the market.
About Plug Power Inc.
The architects of modern fuel cell technology, Plug Power revolutionized the industry with cost-effective power solutions that increase productivity, lower operating costs and reduce carbon footprints. Long-standing relationships with industry leaders forged the path for Plug Power's key accounts, including Wegmans, Whole Foods, and FedEx Freight. With more than 1,200 GenDrive units shipped to material handling customers, accumulating over 5 million hours of runtime, Plug Power manufactures tomorrow's incumbent power solutions today. Additional information about Plug Power is available at www.plugpower.com.
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Plug Power Inc. Safe Harbor Statement
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations that are subject to certain assumptions, risks and uncertainties, any of which are difficult to predict, are beyond Plug Power's control and that may cause Plug Power's actual results to differ materially from the expectations in Plug Power's forward-looking statements including statements regarding the risk that revenue growth can or will be sustained, that unit orders will not ship, be installed and/or convert to revenue, in whole or in part; the cost and timing of developing Plug Power's products and its ability to raise the necessary capital to fund such development costs; the risk that the previously disclosed expected uses of the Company's recently raised capital may change; the ability to achieve the forecasted gross margin on the sale of Plug Power's products; the 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 Plug Power's products; market acceptance of Plug Power's GenDrive system; Plug Power's 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 Plug Power's products; Plug Power's ability to develop commercially viable products; Plug Power's ability to reduce product and manufacturing costs; Plug Power's ability to successfully expand its product lines; Plug Power's ability to improve system reliability for GenDrive; competitive factors, such as price competition and competition from other traditional and alternative energy companies; Plug Power's ability to manufacture products on a large-scale commercial basis; Plug Power's ability to protect its intellectual property; the cost of complying with current and future governmental regulations; and other risks and uncertainties discussed under "Item IA-Risk Factors" in (i) Plug Power's annual report on Form 10-K for the fiscal year ended December 31, 2010, filed with the Securities and Exchange Commission ("SEC") on March 31, 2011 and (ii) in Plug Power's quarterly report on Form 10-Q for the quarter ended March 31, 2011 filed with the SEC on May 13, 2011, as well as in the other reports Plug Power files from time to time with the SEC. Plug Power does not intend to, and undertakes no duty to update any forward-looking statements as a result of new information or future events.
CONTACT: Media Contact: Reid Hislop Plug Power Inc. Phone: (518) 782-7700 ext. 1360 Investor Relations Contact: Cathy Yudzevich Plug Power Inc. Phone: (518) 782-7700 ext. 1448