23.9.2004: Meldung: Tyco Signs Distribution Agreement for Plug Power Fuel Cell System
Under the agreement with Plug Power, Tyco Electronics will market, promote and sell the GenCore product through its direct sales force, under both the Tyco Electronics and Plug Power brands. The distribution agreement formalizes a working relationship between the companies that has been actively addressing technology, marketing, reliability and certification for more than a year, and is complemented by a previously announced nationwide service and installation agreement between Plug Power and Tyco Electronics Installation Services Inc.
"These systems are real and ready to deploy now," said Sabi Varma, Vice President of Marketing and Business Operations at Tyco Electronics Power Systems. "We"ve taken the time to understand the technology and how it fits into telecom power systems, and we"re ready to offer this disruptive technology to the market."
"Tyco Electronics has strong relationships with the major telecommunications companies in both the wireline and wireless sectors," said Mark Sperry, Chief Marketing Officer, Plug Power. "With its reputation, full portfolio of power products and broad expertise, Tyco Electronics brings significant credibility to the sales process, as well as highly capable engineering, sales and marketing organizations. This relationship, combined with our installation and services relationship with Tyco Electronics Installation Services, positions Plug Power with the market access and support necessary to achieve real commercial traction."
GenCore®5T is Plug Power"s first direct hydrogen 5kW backup power product, designed to increase network reliability while reducing lifecycle costs for telecommunication networks.
About Tyco Electronics Power Systems
Tyco Electronics Power Systems, a division of Tyco Electronics, is a leading global provider of innovative, reliable power supply products including AC-DC and DC-DC switching power supplies, batteries and complete communications and energy power systems. Tyco Electronics Power Systems also offers custom design, engineering, installation and technical support services to its customers.
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 (formerly Celanese Ventures.) 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 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.
Source: Plug Power Inc.