23.01.03

23.1.2003: Meldung: Plug Power Completes Fuel Cell Demonstration

Plug Power Inc. announced today the successful completion of the fuel cell demonstration program, funded by the U.S. Department of Defense, at the Watervliet Arsenal in Watervliet, New York.

"The fuel cell demonstration project at the Arsenal represents the kind of public/private partnership that will help advance fuel cell technology and other alternative energy solutions. I will continue to support partnerships that successfully leverage government and industry collaboration," said Congressman Mike McNulty (D-Green Island). "This venture not only demonstrates the usefulness of Plug Power""s alternative methods of power generation, but also helps our region and our nation meet its energy independence goals."

In early 2002, Plug Power installed 10 grid-parallel 5kW fuel cell systems, which operated for more than 80,000 hours and generated approximately 210,000 kWh of electricity throughout the year. The fuel cell systems provided supplemental power to a telecommunications facility, a research and development laboratory and provided all power required for the four units at base housing. "The fuel cell systems showcased an electricity source that is quiet, environmentally positive and holds significant promise for our military infrastructure. These systems served the Arsenal by providing some or all of the power required for these three facilities in a way that was transparent to the Arsenal staff and its residents," said Colonel Donald C. Olson, Commander, Watervliet Arsenal.

The fuel cell systems operated at or above 94 percent average availability during the year, exceeding the contract requirement of 90 percent. "System performance over the year was monitored for power generated, electrical efficiency and system availability," said Mark A. Sperry, Plug Power Vice President and Chief Marketing Officer. "This fleet not only surpassed our performance objectives but provided an excellent educational opportunity for our staff that will be used to continually improve our product for future customers." To view operational data from the project please visit http://www.dodfuelcell.com/ res/watervliet.php3.

The specific objectives of the fuel cell demonstration program included: * Assessing fuel cells as a viable technology to support military installation energy requirements. * Increasing Dept. of Defense""s ability to more efficiently construct, operate and maintain its fuel cell installations. * Assessing the role of Proton Exchange Membrane (PEM) fuel cells in supporting DoD""s training, readiness, mobilization and sustainability missions. * Providing a technology demonstration site for a military base market. * Providing operational testing and validation to assess installation, grid interconnection and operation of fuel cell systems in all seasonal conditions, and integration of units into an existing military base environment.

"This program was significant because it represented the largest implementation of PEM fuel cells at a military facility," said Frank Holcomb, Principal Investigator, U.S. Army Corps of Engineers, Construction Engineering Research Laboratory (CERL), and program sponsor. "The learning to industry and the military has been very high, and programs like this continue to move this technology closer to wide- spread commercialization. We look forward to continuing to explore how other military bases can benefit from fuel cell technology."

Partners in the program included the program sponsor U.S. Army Corps of Engineers, Construction Engineering Research Laboratory (CERL) and the site host Watervliet Arsenal. Although the contract operations under the demonstration program are complete, Plug Power will continue to operate the systems in cooperation with the Arsenal.

About Watervliet Arsenal

The Watervliet Arsenal, founded in 1813, is the oldest continuously active arsenal in the United States. The Arsenal is a manufacturer of large caliber weapons.

About CERL

U.S. Army Corps of Engineers, Construction Engineering Research Laboratory (CERL) is part of the U.S. Army Engineer Research and Development Center, which is the Army Corps of Engineers"" integrated research and development organization. CERL works closely with Army customers to develop products and services and to help its customers implement new technologies.

About Plug Power

Plug Power designs, develops and manufactures on-site electric power generation systems utilizing Proton Exchange Membrane (PEM) fuel cells for stationary applications. Plug Power""s fuel cell systems are expected to be sold globally through a joint venture with General Electric and through DTE Energy Technologies in a four-state territory, which includes Michigan, Illinois, Ohio and Indiana. The Company""s headquarters are located in Latham, N.Y., with offices in Washington, D.C. and The Netherlands.

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 a commercially viable fuel cell system; the cost and timing of developing Plug Power""s fuel cell systems; market acceptance of Plug Power""s fuel cell systems; Plug Power""s reliance on Plug Power""s relationship with certain affiliates of General Electric; Plug Power""s ability to perform on its multi- generation product plan in a manner satisfactory to GEFCS and DTE; ability to manufacture fuel cell systems on a commercial basis; competitive factors, such as price competition, competition from other power technologies and competition from other fuel cell companies; the cost and availability of components and parts for Plug Power""s fuel cell systems; the ability to raise and provide the necessary capital to develop, manufacture and market Plug Power""s fuel cell systems; Plug Power""s ability to lower the cost of its fuel cell systems and demonstrate their reliability; the cost of complying with current and future governmental regulations; and other risks and uncertainties discussed under the heading "Risk Factors" in Plug Power""s annual report on Form 10-K for the fiscal year ended December 31, 2001, dated March 29, 2002 and filed with the Securities Exchange Commission on March 29, 2002, 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.

Contact:
Plug Power
968 Albany-Shaker Road
Latham, NY 12110
USA
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