News Details

LATHAM, N.Y. � September 30, 2002 -- Plug Power Inc. (NASDAQ: PLUG) announced today the availability of the company�s first direct-hydrogen fuel cell system designed to provide extended outage coverage for critical industrial operations. The 5-kilowatt, 48 volt DC, hydrogen-fueled system, based on Plug Power�s proprietary technology, will support premium power applications.

The new system marks Plug Power�s first shipment into the back-up/UPS (uninterruptible power supply) markets. The direct-hydrogen system differs from Plug Power�s natural gas reforming GenSys�5C product, taking advantage of the current industrial hydrogen infrastructure.

�This product offers an excellent alternative to traditional battery and engine-generator architectures," said Mark Sperry, Plug Power Vice President and Chief Marketing Officer. "Customers will recognize several benefits from this product, including low operation and maintenance expenses with efficient operation over a wide range of outdoor ambient conditions."

The Long Island Power Authority (LIPA) has received three systems, which are expected to be installed this fall. The systems will be utilized to support uninterruptible power supply requirements for facilities at the U.S. Merchant Marine Academy, a federal facility in Kings Point, N.Y. An additional system has been delivered to a power supply OEM (original equipment manufacturer) for evaluation and testing. Additional system shipments are anticipated throughout the remainder of the year to a targeted list of customers including OEMs in the premium power sector.

The hydrogen-fueled system was evaluated and certified by CSA International (CSA) and is certified as compliant with the American National Standards Institute (ANSI) Standard for Fuel Cell Power Plants. The DC/DC power conversion system was evaluated by the Underwriters Laboratories Inc. (UL) and is recognized as compliant with the Standard for Inverters, Converters and Controllers for Use in Independent Power Systems. The hydrogen-fueled system conforms to the Federal Communications Commission (FCC) rules for Electromagnetic Compatibility (EMC).

Plug Power designs, develops and manufactures on-site electric power generation systems utilizing Proton Exchange Membrane fuel cells for stationary applications. Plug Power�s fuel cell systems are expected to be sold globally through a joint venture with General Electric and through DTE Energy Technologies in a four-state territory, which includes Michigan, Illinois, Ohio and Indiana. The Company�s headquarters are located in Latham, N.Y., with offices in Washington, D.C. and The Netherlands.

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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 a commercially viable fuel cell system; the cost and timing of developing Plug Power�s fuel cell systems; market acceptance of Plug Power�s fuel cell systems; Plug Power�s reliance on Plug Power�s relationship with certain affiliates of General Electric; Plug Power�s ability to perform on its multi-generation product plan in a manner satisfactory to GEFCS and DTE; ability to manufacture fuel cell systems on a commercial basis; competitive factors, such as price competition, competition from other power technologies and competition from other fuel cell companies; the cost and availability of components and parts for Plug Power�s fuel cell systems; the ability to raise and provide the necessary capital to develop, manufacture and market Plug Power�s fuel cell systems; Plug Power�s ability to lower the cost of its fuel cell systems and demonstrate their reliability; the cost of complying with current and future governmental regulations; and other risks and uncertainties discussed under the heading �Risk Factors� in Plug Power�s annual report on Form 10-K for the fiscal year ended December 31, 2001, dated March 29, 2002 and filed with the Securities Exchange Commission on March 29, 2002, 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.