[July 15, 2005] Plug Power Receives Order for 63 GenCore(R) Fuel Cell Systems from Tyco Tweet LATHAM, N.Y., July 15 /PRNewswire-FirstCall/ -- Plug Power Inc. , a leading provider of clean, reliable on-site energy, today announced an order for 63 GenCore(R) backup fuel cell systems from the Company's distribution partner, Tyco Electronics Power Systems, Inc. (Tyco), a division of Tyco Electronics. The systems were sold to a leading U.S.-based telecommunications provider for integration into its network over the next few months. The GenCore systems will be co-branded with both the Tyco and Plug Power brand names. Tyco, a respected player in the telecom industry, has a national sales force and one of the largest service organizations dedicated to telecom in North America, which includes more than 300 field technicians. This is the first time that Plug Power products have been sold under another brand. "Through our direct sales force, we are promoting the GenCore product as a robust energy solution for critical telecom infrastructure," said William Godfrey, Senior Manager, Tyco Electronics Power Systems, Inc. "Fuel cell power systems offer a cost effective solution to telecommunication providers seeking reliable extended outage protection." "This sale is Plug Power's second significant order in the past month and we believe that this is indicative of the progress we are making toward our public milestone of 300 GenCore orders this year," said Mark Sperry, Plug Power's Chief Marketing Officer. "While major telecoms continue to purchase and test our fuel cell systems, we believe this sale represents real commercial traction and validates the strong value proposition offered by GenCore." GenCore 5T is a 5kW DC backup power system designed specifically for the rigorous demands of the telecommunications outside plant. Launched in 2003 as a premium power solution, GenCore 5T has been deployed with telecommunications carriers and partners in North and South America, United Kingdom, Japan and South Africa. GenCore 5T has been certified in the U.S. to the applicable sections of NEBS (GR-63-CORE, GR-487-CORE and GR-1089-CORE), a rigorous set of equipment standards followed by many telecommunications carriers in the U.S., and in Europe to the CE standards. GenCore 5T provides telecommunication carriers with the ability to increase network reliability while reducing operating costs for their networks. About Plug Power Plug Power Inc. is an established leader in the deployment of clean, reliable, on-site energy products. More than 500 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 to join Plug Power's energy revolution as an investor, customer, supplier or strategic partner, please visit http://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. Plug Power Inc. CONTACT: Cynthia Mahoney White of Plug Power Inc., Manager, PublicRelations & Marketing, +1-518-782-7700 ext. 1973, +1-518-527-1172 (Mobile),[email protected] Web Site: http://www.plugpower.com/ [ Back To TMCnet.com's Homepage ]