LATHAM, N.Y., March 29, 2012 (GLOBE NEWSWIRE) -- Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean, reliable energy solutions, announces that Michael Cikos, analyst covering technology for Sidoti & Company, is now providing coverage of Plug Power's progress and performance against milestones.
Plug Power is the established leader in the development, manufacturing and commercialization of hydrogen fuel cell solutions for the material handling market. Plug Power has provided its GenDrive fuel cells to major North American customers such as Walmart, Sysco Foods and Proctor and Gamble.
Plug Power is being followed by one other analyst at this time: Phillip Shen of Roth Capital Partners.
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 our key accounts, including Wegmans, Whole Foods, and FedEx Freight. With more than 2,000 GenDrive units shipped to material handling customers, accumulating over 5.5 million hours of runtime, Plug Power manufactures tomorrow's incumbent power solutions today. Visit us 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, including statements regarding increased reliability and improved lift and towing capacity of Plug Power's GenDrive product, and Plug Power's expectations regarding its HyPulsion joint venture. 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 the risk 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 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 September 30, 2011 filed with the SEC on November 9, 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.
Plug Power Inc. is followed by the analyst(s) listed above. Please note that any opinions, estimates or forecasts regarding Plug Power Inc. performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of Plug Power Inc. or its management. Plug Power Inc. does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.
CONTACT: Media Contact: Reid Hislop Plug Power Inc. Phone: (518) 782-7700 ext. 1360 firstname.lastname@example.org Investor Relations Contact: Cathy Yudzevich Plug Power Inc. Phone: (518) 782-7700 ext. 1448 email@example.com