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Plug Power Reports on Status of Annual Meeting of Stockholders



Plug Power Reports on Status of Annual Meeting of Stockholders

LATHAM, N.Y., June 28, 2013 (GLOBE NEWSWIRE) -- Plug Power Inc. (Nasdaq:PLUG)
(the "Company") today held its 2013 Annual Meeting of Stockholders (the
"Annual Meeting"). At the Annual Meeting, the Company's stockholders voted on
and approved the following: (a) proposal 1, the election of George C. McNamee
and Johannes M. Roth to the Company's Board of Directors to hold office as
Class II directors until the 2016 annual meeting of stockholders and until
such director's successor is duly elected and qualified or until such
director's earlier resignation or removal; and (b) proposal 3, the
ratification of KPMG LLP as the Company's independent auditors for 2013. In
addition, the Company announced that it has adjourned the vote with respect to
proposal 2, the approval of an Amendment to the Company's Amended and Restated
Certificate of Incorporation to effect a reverse stock split of the Company's
Common Stock at a ratio within a range of 1:10 to 1:25, in order to permit
stockholders additional time within which to vote. The adjourned meeting will
be held at 5:00 p.m. ET on July 1, 2013 at the offices of Plug Power Inc., 968
Albany-Shaker Road, Latham, New York 12110. The record date for the annual
meeting is May 17, 2013.

Plug Power Inc. Safe Harbor Statement

This communication contains statements that are not historical facts and are
considered forward-looking within the meaning of Section 27A of the Securities
Act and Section 21E of the Exchange Act. These forward-looking statements
contain projections of our future results of operations or of our financial
position or state other forward-looking information. 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. Investors are
cautioned not to unduly rely on forward-looking statements because they
involve risks and uncertainties, and actual results may differ materially from
those discussed as a result of various factors, including, but not limited to:
the risk that we continue to incur losses and might never achieve or maintain
profitability, the risk that we expect we will need to raise additional
capital to fund our operations and such capital may not be available to us;
the risk that we do not have enough cash to fund our operations to
profitability and if we are unable to secure additional capital, we may need
to reduce and/or cease our operations; the risk that a "going concern" opinion
from our auditors, KPMG LLP, could impair our ability to finance its
operations through the sale of equity, incurring debt, or other financing
alternatives; the recent restructuring plan we adopted may adversely impact
management's ability to meet financial reporting requirements; our lack of
extensive experience in manufacturing and marketing products may impact our
ability to manufacture and market products on a profitable and large-scale
commercial basis; the risk that unit orders will not ship, be installed and/or
converted to revenue; the risk that pending orders may not convert to purchase
orders; the risk that our continued failure to comply with NASDAQ's listing
standards may result in our common stock being delisted from the NASDAQ stock
market, which may severely limit our ability to raise additional capital; the
cost and timing of developing, marketing and selling our products and our
ability to raise the necessary capital to fund such costs; the ability to
achieve the forecasted gross margin on the sale of our products; the actual
net cash used for operating expenses may exceed the projected net cash for
operating expenses; the cost and availability of fuel and fueling
infrastructures for our products; market acceptance of our GenDrive systems;
our 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 our products; our ability to develop commercially viable
products; our ability to reduce product and manufacturing costs; our ability
to successfully expand our product lines; our ability to improve system
reliability for our GenDrive systems; competitive factors, such as price
competition and competition from other traditional and alternative energy
companies; our ability to protect our intellectual property; the cost of
complying with current and future federal, state and international
governmental regulations; 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, 2012, filed with the Securities and Exchange
Commission ("SEC") on April 1, 2013 and as amended on April 30, 2013 and the
reports Plug Power filed from time to time with the SEC. These forward-looking
statements speak only as of the date on which the statements were made and are
not guarantees of future performance. Except as may be required by applicable
law, we do not undertake or intend to update any forward-looking statements
after the date of this communication.

Important Information

In connection with the solicitation of proxies, on May 31, 2013, Plug Power
Inc. filed a definitive proxy statement with the Securities and Exchange
Commission (the "SEC") in connection with the Company's 2013 Annual Meeting.
PLUG POWER'S STOCKHOLDERS ARE STRONGLY ADVISED TO READ THE DEFINITIVE PROXY
MATERIALS AND ANY OTHER RELEVANT SOLICITATION MATERIALS FILED BY PLUG POWER
WITH THE SEC BEFORE MAKING ANY VOTING OR INVESTMENT DECISION BECAUSE THESE
DOCUMENTS CONTAIN IMPORTANT INFORMATION. The Company's proxy statement and any
other materials filed by the Company with the SEC can be obtained free of
charge at the SEC's web site at www.sec.gov. The Company's definitive proxy
materials are also available for free from Plug Power at
http://www.plugpower.com/, or by writing to Plug Power Inc., 968 Albany-Shaker
Road, Latham, New York 12110, Attention: Corporate Secretary. The contents of
the websites referenced above are not deemed to be incorporated by reference
into the proxy statement.

Plug Power Inc. and its directors, nominees and executive officers may be
deemed to be participants in the solicitation of proxies from the stockholders
of Plug Power in connection with the Company's 2013 Annual Meeting of
Stockholders. Information concerning the interests of participants in the
solicitation of proxies is included in the definitive proxy statement filed by
Plug Power with the SEC on May 31, 2013 in connection with its 2013 Annual
Meeting of Stockholders.

CONTACT: For additional information contact:
         David Rodewald / Karen Freedman
         +1 805-494-9508
         The David James Agency | Plug Power
         plugpower@davidjamesagency.com

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