22.12.2004: Meldung: Plug Power Receives Contract to Provide Hydrogen at DTE Power Plant
"This is a great opportunity for Detroit Edison to test and prove on-site hydrogen generation technology in a demanding, industrial application," said Guy Harris, Detroit Edison Director, Fossil Generation Performance. "We look forward to working with Plug Power on similar ventures in the future and in helping to play an important role in the realization of the hydrogen economy."
Under the terms of the contract, Plug Power will install a GenSite(TM) hydrogen generator at the St. Clair Power Plant located in East China, Michigan. The GenSite system has already been shipped to the Saint Clair facility and is expected to be fully operational early next year. The Plant is located on 1,700 acres south of the city of Saint Clair and produces approximately 1,400 megawatts of power for the Detroit Edison system, which serves 2.1 million customers in southeast Michigan.
The GenSite system will augment Saint Clair"s existing liquid hydrogen infrastructure and provide a significant portion of the hydrogen needed for the Power Plant"s daily operations. Plug Power will provide customer training that will address specific installation and maintenance requirements for Detroit Edison"s designated personnel.
GenSite(TM) hydrogen generation systems provide reliable and economical on-site generation of pure, compressed hydrogen gas for industrial gas applications. Based on Plug Power"s auto thermal reforming technology, which has been proven in more than 400 field installations and two million hours of field run time, GenSite systems reduce the need for transportation and storage of hydrogen gas cylinders and tube trailers, lower the cost of supplying hydrogen gas, and provide a secure source of hydrogen on site.
About The Detroit Edison Company
Detroit Edison is an investor-owned electric utility serving 2.1 million customers in Southeastern Michigan and a subsidiary of DTE Energy (NYSE: DTE - News), a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Information about DTE Energy is available at http://www.dteenergy.com.
About Plug Power
Plug Power Inc. designs and develops on-site energy systems based on proton exchange membrane fuel cells. Plug Power"s strategic partners include GE Fuel Cell Systems, DTE Energy Technologies, Vaillant GmbH, Honda R&D Co., Ltd., Engelhard Corporation and PEMEAS GmbH. The Company"s headquarters are located in Latham, N.Y., with offices in Washington, D.C., and The Netherlands. Additional corporate information is available at 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, 2003, dated March 11, 2004 and filed with the Securities Exchange Commission on March 11, 2004, 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.
Plug Power Inc.
968 Albany-Shaker Road
Latham, New York 12110
Source: Plug Power Inc.