Plug Power Launches New Turnkey Solution to Smooth Customer Transition to Hydrogen Fuel Cells

Plug Power Launches New Turnkey Solution to Smooth Customer Transition to
Hydrogen Fuel Cells

'GenKey' is Plug Power's First All-Inclusive Offering and Incorporates Fuel
Cells, Hydrogen Infrastructure, Maintenance Service

LATHAM, N.Y., Jan. 16, 2014 (GLOBE NEWSWIRE) -- Plug Power Inc. (Nasdaq:PLUG),
a leader in providing clean, reliable energy solutions, today announced
GenKey, the first all-inclusive turnkey hydrogen solution for material
handling sites, which has been added to the company's arsenal of hydrogen fuel
cell offerings centered on the GenDrive product suite.

GenKey is comprised of three separate elements: GenDrive fuel cell units,
GenFuel hydrogen fuel and infrastructure, and GenCare maintenance service.
Plug Power provides full integration and deployment of the entire GenKey
package for customers to ensure seamless transition to hydrogen fuel
cell-based power for material handling operations.

Moving to a hydrogen infrastructure can be misinterpreted as a complex
process, involving multiple vendors and contracts and entailing a lot of
internal knowledge and training. GenKey takes complexity out of the equation
for the customer by delivering a complete range of services to dramatically
simplify the entire process. It is designed so companies can choose any or all
of the platform elements to simplify and suit their needs.

"GenKey allows us to increase our value-add for customers through building a
comprehensive turnkey solution that streamlines the transition to a hydrogen
infrastructure – we do all the hard work, so the customer can focus on the
best use of its new-found productivity," said Andy Marsh, CEO of Plug Power.
"GenKey also transforms Plug Power's strategic business model from a
product-only model, to one with a recurring revenue stream that we expect will
add more predictability to our bottom line."

The industry leading GenDrive fuel cell product line provides a comprehensive
product suite foundation for warehouse and distribution center lift trucks
that are converted from battery to fuel cell power. The fuel cells are a
drop-in replacement for lead-acid batteries, fitting precisely into existing
compartments on all major OEM material handling equipment.

The new GenFuel component will provide customers with support for the design
and construction of an onsite hydrogen fuel infrastructure, either with the
retrofitting of an existing facility or via development at a brand new
facility. GenFuel services include the design, procurement, commissioning and
maintenance for all the components required to successfully dispense hydrogen
without disruption to the customer's operations. Plug Power will provide
operator training and a constant supply of cost-efficient hydrogen that
leverages Plug Power's quantity buying power.

GenCare is an ongoing maintenance service for both the fuel cells and hydrogen
infrastructure. It includes advanced system monitoring, preventive
maintenance, periodic system enhancements, parts inventory logs, and
rapid-response onsite service by GenCare technicians.

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 16
million hours of runtime, Plug Power manufactures tomorrow's incumbent power
solutions today. Additional information about Plug Power is available at

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 of 1933 and Section 21E of the Securities Exchange Act of 1934, including
but not limited to statements regarding our expectations regarding the
acceptance, performance and impact of our GenKey offering, including a more
predictable business model and revenue stream. 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 may need to raise additional capital to fund
our operations and such capital may not be available to us; the risk that we
may 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; 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 we fail to comply with NASDAQ's listing standards which 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 risk that our actual
net cash used for operating expenses exceeds our 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: Media Contact
         Teal Vivacqua

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