Plug Power Enhances Leadership Team to Support Growth Strategy

Plug Power Enhances Leadership Team to Support Growth Strategy

New Members of Senior Management and Board of Directors Will Bring Unique
Skill Sets and Expertise

LATHAM, N.Y., Oct. 29, 2013 (GLOBE NEWSWIRE) -- Plug Power Inc. (Nasdaq:PLUG),
a leader in providing clean, reliable energy solutions, today announced
additions to its board of directors and senior management team to support its
ongoing growth strategy, as the company moves toward expansion of its hydrogen
fuel cell business both in its core material handling market and in adjacent
markets.

Mr. Xavier Pontone, Managing Director of Air Liquide Advanced Business, joins
Plug Power as a director on the board of directors, and brings with him a wide
range of operations and new business development experience. Pontone currently
leads a team that develops new growth opportunities for the Air Liquide group,
with a focus on hydrogen mobility, biogas, and energy transition. Pontone also
sits on the board of directors of HyPulsion, the company's joint venture with
Plug Power, and is very active in expanding the market opportunity for
hydrogen-powered material handling vehicles throughout Europe. Pontone
previously served as Manager of Operations Control Center of Air Liquide
Industries, where he managed operations of 12 large industrial gas (O[2],
N[2], H[2] and CO) product networks.

Also joining the board of directors is Dr. Gregory Kenausis, Founding Partner
and Chief Investment Officer at Grand Haven Capital AG. Dr. Kenausis brings a
wealth of investment, technology and business development experience to Plug
Power. Based in Zurich, Switzerland, Dr. Kenausis has extensive
responsibilities, from business concept development to financial model
construction to investment decision-making. He holds multiple patents and has
been published in several distinguished research publications. Dr. Kenausis
holds a Ph.D. in Chemical Engineering from the University of Texas at Austin.

"Mr. Pontone and Dr. Kenausis bring a unique set of capabilities to the board
of directors," said George McNamee, Chairman of the Plug Power Board. "These
skills will become critical to Plug Power's execution of our operational
strategy as our business opportunities expand."

The company also added Mr. Keith Schmid to the management team as Chief
Operating Officer. Schmid has more than 20 years of global experience in
industrial business-to-business technology markets, holding positions in
product design, engineering, marketing, and manufacturing. He has a successful
track record in driving growth through new product development, market entry,
geographic expansion and acquisition.

Schmid was general manager for Exide Industrial Energy-Americas where he
managed commercial activities for a $250 million division consisting of two
business units – motive power and network power. Specific to motive power
operations, Schmid engineered a successful turnaround of the unit, restoring
profitability, establishing strong market growth, and delivering an
industry-leading product line.

Schmid served as President and CEO for Power Distribution Inc., where he led
the growth of the business from approximately $40 million to $125 million,
annually, based on a strategic vision to diversify the business through
markets and geography. Schmid also worked as CEO of Boston-Power Inc., where
he transitioned the company into a provider of large format lithium ion
battery solutions for the electric vehicle and utility storage markets. Here,
Schmid successfully broke through to European and Asian vehicle manufacturers
with prototype systems and demo fleets. Most importantly, Schmid completed
fundraising efforts to ensure a near-term future for Boston-Power Inc.

"I have had the privilege of working with Keith over the past 20 years," said
Andy Marsh, CEO at Plug Power. "Based on his breadth of experience, extensive
knowledge, and proven results successfully growing a business, I've added
Keith to the team as we focus on scaling the organization."

The company approved an option grant to Mr. Schmid.The option grant is for
the purchase of an aggregate of 400,000 shares of common stock of Plug Power
at a per share price of $0.57, has a term of 10 years and is subject to a 3
year vesting schedule, with one third of the shares vesting on each of the
first, second and third anniversary of October 23, 2013.The board of
directors and the compensation committee of the board of directors each
approved the option grant on October 23, 2013.

Leaving his post as Chief Technology Officer, Mr. Adrian Corless has taken a
new position as CEO of Carbon Engineering, Calgary. Marsh commented, "I'd like
to thank Adrian for his contributions to Plug Power and the fuel cell
industry. We all know that he will have great success in the future."

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
         The David James Agency LLC
         David Rodewald / Karen Freedman
         +1 805 494-9508
         plugpower@davidjamesagency.com

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