News Details

MUMBAI, INDIA and LATHAM, NY � SEPTEMBER 21, 2009 � Hindustan Petroleum Corporation Limited (HPCL), a major supplier of oil and gas in India, and Plug Power Energy India Pvt. Ltd, an affiliate of the leading US-based fuel cell manufacturer, Plug Power Inc. (NASDAQ: PLUG), announced that they have entered into a fuel supply agreement. Under the five year contract, HPCL will supply commercial liquefied petroleum gas (LPG) to Plug Power's GenSys^� fuel cell systems powering remote cell towers in rural India.

As previously announced, Plug Power received an anchor order from WTTIL, the cell tower arm of the Tata Teleservices Limited (TTSL) for 200 GenSys systems to be installed at the TTSL cell tower sites by the end of March, 2010. The Company expects to install approximately 1,000 systems by the end of 2010. HPCL will be providing the LPG fuel for the initial 200 installations.

GenSys^� provides continuous power to cell tower sites with no or extremely unreliable electric grid service. An estimated ten percent of the cell towers in India currently operate completely off-grid where the primary power is provided by diesel generators. HPCL has an extensive pan-India infrastructure, delivering 580,000 cylinders or 8,200 Metric Tonnes of LPG on a daily basis including the most remote regions of India. HPCL is also currently evaluating the utilization of GenSys prime power systems within its own infrastructure including gasoline fueling stations, community kitchens, pipelines and other potential applications. 

Mr Arun Balakrishnan, Chairman & Managing Director of HPCL, commenting on the Agreement said "this agreement is a giant step towards providing clean and reliable energy solutions to our customers through technological advancements. This synergy with Plug Power Energy India Pvt. Ltd would also go a long way in propagating the use of efficient and cleaner fuel to reduce effect of climate changes." 

"HPCL has been a great partner to date, supporting our early trial and demonstration activities with the on-time delivery of LPG gas" said Mark Sperry, Plug Power's Vice President for Continuous Power. "HPCL has the distribution capabilities necessary to provide fuel in the most remote regions of India where many of our initial GenSys installations will occur."

Strata-gems Management Consultants served as the strategic advisors for this project, helping to negotiate the successful agreement between all three companies involved and bring this clean energy technology to India.

About Plug Power Inc.
Plug Power Inc. (NASDAQ: PLUG), an established leader in the development and deployment of clean, reliable energy solutions, integrates fuel cell technology into motive and continuous power products. Plug Power Inc. is the parent of Plug Power Energy India Pvt. Ltd., an entity based in Bangalore, India. The Company is actively engaged with private and public customers in targeted markets throughout the world. For more information about how to join Plug Power's energy revolution as an investor, customer, supplier or strategic partner, please visit www.plugpower.com.

About Hindustan Petroleum Corporation Limited.
A Global Fortune 500 & Forbes Global 2000 Company, Hindustan Petroleum Corporation Ltd (HPCL) is an integrated oil refining & marketing company in India with a Turnover of Rs 1,16,428 Crores (US$ 22,629 Million). HPCL owns and operates Fuel Refineries in Mumbai and Visakhapatnam besides the largest Lube Refinery in the country at Mumbai. With about 8600 Retail Outlets and 2200 LPG Distributors, the Company reaches out almost every district in the country.
For more details please visit www.hindustanpetroleum.com

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 but not limited to statements regarding our growth plan. We believe that it is important to communicate our future expectations to our investors. However, there may be events in the future that we are not able to accurately predict or control and that may cause our actual results to differ materially from the expectations we describe in our forward-looking statements, including, without limitation, the risk that unit orders will not ship, be installed and/or convert to revenue, in whole or in part; Plug Power's ability to develop commercially viable energy products; the cost and timing of developing Plug Power's energy products; market acceptance of Plug Power's energy products; Plug Power's ability to manufacture 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 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; the cost and availability of fuel and fueling infrastructures for Plug Power's energy products; Plug Power's ability to protect its Intellectual Property; Plug Power's ability to lower the cost of its 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 energy products; and other risks and uncertainties discussed under "Item IA�Risk Factors" in Plug Power's annual report on Form 10-K for the fiscal year ended December 31, 2008, filed with the Securities and Exchange Commission ("SEC") on March 16, 2009, and the reports Plug Power files from time to time with the SEC. Plug Power does not intend to and undertakes no duty to update the information contained in this communication.