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PLUG-one step closer to fleet of delivery trucks:

Plug Power Begins Production of Proprietary Membrane Electrode Assemblies (MEAs), a Key Component of its New ProGen Metal Plate Stack
7:00 am ET September 18, 2018 (Globe Newswire) Print
Leveraging its acquisition of American Fuel Cell, the new ProGen metal plate stack provides twice as much power density and a longer lifecycle for on-road applications

Plug Power Inc. (NASDAQ: PLUG), a leading provider of energy solutions that change the way the world moves, today announced the production of its membrane electrode assemblies (MEAs). Leveraging the expertise gained through its acquisition of American Fuel Cell (AFC) technology in June 2018, Plug Power's proprietary MEA is a key component of the newly designed ProGen metal plate stack. The new stack provides Plug Power with a competitive edge, doubling the power density of its graphite plate stack and extending the life cycle for on-road applications. With this new stack, Plug Power continues its commitment to fuel cell innovation and its goal of accelerating the adoption of zero emission hydrogen fuel cell electric vehicles (HFCVs) through powerful technologies.

Hydrogen fuel cells are the cleanest alternative energy solution available today, with heat and water as the only byproducts. For businesses dependent on the usability and range of delivery vehicles, HFCVs provide markedly improved uptime, offering a sustainable alternative to the lengthy charge times and range anxiety associated with battery-powered electric vehicles (BEVs). With the new ProGen metal plate stack, Plug Power is introducing a robust alternative energy solution that lasts longer and more than doubles standard BEV range, keeping high utilization fleet vehicles on the road longer.

"It's no secret that fuel cell adoption is on the rise. Earlier this year KPMG stated that hydrogen fuel cell electric vehicles have replaced battery-powered electric vehicles as the number one trend until 2025," said Andy Marsh, CEO, Plug Power. "With this increase in popularity, it's critical that we're prepared to address the growing needs of today's customers as well as those on the horizon. Thanks to the recent expansion of our facilities in Rochester and Clifton Park, NY, Plug Power has the infrastructure required to ramp up production of our new ProGen metal plate stack, ensuring we're meeting the demands of this rapidly expanding industry."

A core component of the ProGen metal plate stack, Plug Power developed an ink, catalyst, and material formula for its MEA technology that improves efficiency and enhances durability. Plug Power began manufacturing MEAs in the third quarter of 2018 from Rochester, NY leveraging existing expertise and infrastructure in fuel cell technology as well as thin film coating and roll-to-roll manufacturing.

"Technology innovation is paramount to the success of hydrogen fuel cell adoption, and Plug Power has an established reputation as the industry's leader," said Keith Schmid, COO, Plug Power. "By quickly onboarding the AFC team, we've been able to merge their specialized skill sets in MEAs and on-road applications with Plug Power's unmatched experience in hydrogen fuel cell system design. This collaborative design effort allows our ProGen technology to operate more efficiently, reduce operating costs, and meet sustainability goals."

The ProGen metal plate stack will be integrated into Plug Power's ProGen hydrogen engines, simplifying the advancement of new on-road market development opportunities like delivery vans, buses, and trucks. The newly designed MEAs and metal stacks will improve product performance, cost, and quality.

About Plug Power Inc.

The architect of modern hydrogen and fuel cell technology, Plug Power is the innovator that has taken hydrogen and fuel cell technology from concept to commercialization. Plug Power has revolutionized the material handling industry with its full-service GenKey solution, which is designed to increase productivity, lower operating costs and reduce carbon footprints in a reliable, cost-effective way. The Company's GenKey solution couples together all the necessary elements to power, fuel and serve a customer. With proven hydrogen and fuel cell products, Plug Power replaces lead acid batteries to power electric industrial vehicles, such as the lift trucks customers use in their distribution centers.

Extending its reach into the on-road electric vehicle market, Plug Power's ProGen platform of modular fuel cell engines empowers OEMs and system integrators to rapidly adopt hydrogen fuel cell technology. ProGen engines are proven today, with thousands in service, supporting some of the most rugged operations in the world. Plug Power is the partner that customers trust to take their businesses into the future. Learn more at www.plugpower.com.