Plug Power Receives NASDAQ Notice of Non-Compliance

Plug Power Receives NASDAQ Notice of Non-Compliance

Company Plans to Request Hearing

LATHAM, N.Y., Oct. 11, 2013 (GLOBE NEWSWIRE) -- Plug Power Inc. (Nasdaq:PLUG),
a leader in providing clean, reliable energy solutions, today announced that,
on October 8, 2013, the Company received a Staff Determination letter from The
NASDAQ Stock Market indicating that the Company has not regained compliance
with NASDAQ Listing Rule 5550(a)(2) (the "Minimum Bid Price Rule") because the
Company's common stock did not maintain a minimum closing bid price of $1.00
per share over a period of 10 consecutive business days ending on or prior to
October 7, 2013. As a result, the Company's common stock would be subject to
delisting from The NASDAQ Capital Market^® unless the Company requests a
hearing before a NASDAQ Listing Qualifications Panel (the "Panel").

Accordingly, the Company plans to timely request a hearing before the Panel,
which request will stay the delisting of the Company's common stock pending
the issuance of a decision by the Panel following the hearing. At the hearing,
the Company will present its plan for achieving compliance with the applicable
NASDAQ listing requirements.

There can be no assurance that the Panel will grant the Company's request for
continued listing on The NASDAQ Capital Market. If the Company is not granted
the extension, Plug Power expects to be given a window of time to execute a
reverse stock split. At the June 28 Annual Meeting, shareholders provided the
Board of Directors the authority to execute a reverse stock split to remain
listed. The Company is currently in compliance with all NASDAQ listing
requirements other than the Minimum Bid Price Rule.

About Plug Power Inc.

The architects of modern fuel cell technology, Plug Power is revolutionizing
the industry with cost-effective power solutions that increase productivity,
lower operating costs and reduce carbon footprints. Long-standing
relationships with industry leaders forged the path for Plug Power's key
accounts, including Walmart, Sysco, P&G and Mercedes. With more than 4,000
GenDrive units deployed to material handling customers, accumulating over 12
million hours of runtime, Plug Power manufactures tomorrow's incumbent power
solutions today. Additional information about Plug Power is available at
www.plugpower.com.

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.

CONTACT: North American Press Contact
         Teal Vivacqua
         Plug Power Inc.
         518.738.0269
         investors@plugpower.com

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