LATHAM, N.Y., March 9 /PRNewswire-FirstCall/ -- Plug Power Inc. , a leader in providing clean, reliable on-site energy, today announced agreements with LOGANEnergy Corp. and Pacific Telepoint Inc. to distribute the Company's GenCore(R) product line to customers in the United States and South Korea, respectively.
Consistent with Plug Power's sales and marketing strategy, these new distributors will be targeting customers in the telecom, utility and public sectors, where the need for reliable, extended-run backup power is critical. LOGANEnergy plans to target their existing customer base of government agencies such as the U.S. Department of Defense, U.S. Department of State and the Federal Aviation Administration. Pacific Telepoint intends to distribute Plug Power's GenCore systems to various South Korean telecommunications, industrial and utility companies.
"In keeping with our 2006 milestone of expanding our network of channel and strategic partners, I am pleased to announce the addition of LOGANEnergy and Pacific Telepoint to the family of GenCore distributors," said Mark Sperry, Chief Marketing Officer of Plug Power. "Both LOGANEnergy and Pacific Telepoint have made purchase commitments and have already sold and installed GenCore systems with key end user accounts in their respective territories."
The GenCore product line includes backup power products for the telecommunication, uninterruptible power supply and electric utility markets. The hydrogen-fueled GenCore 5-kilowatt backup fuel cell system is available in seven configurations to serve the broad needs of these applications.
About LOGANEnergy Corp.
LOGANEnergy Corp. works closely with fuel cell manufacturers to assist their commercialization strategies. Its product catalog includes PEM, PAFC and CARBONATE power plants ranging from 5kW to 2MW capacities designed for Residential/Light Commercial, Commercial and Industrial applications. The company's staff has installed more than 75 fuel cell power plants exceeding 8MW capacity at more than 65 locations. Customers include Department of Defense, fuel cell manufacturers, utilities, banks, universities, real estate developers and other business centers.
About Pacific Telepoint Inc.
Pacific Telepoint Inc. is a newly formed company combining the strengths of Solectek and CHP-Tech. Solectek manufactures Non Line of Sight (NLOS) communication systems and wireless system integrator for enterprise networks, government networks, carrier traffic backhauls and video surveillance. CHP-Tech is an experienced installer of fuel cell systems for prime power, hydrogen vehicle refueling, and backup power. Customers include local natural gas, LPG and city gas companies, telecommunication service providers and universities.
About Plug Power
Plug Power Inc. is an established leader in the deployment of clean, reliable, on-site energy products. More than 600 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.
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