PLUG- Plug Power Energy

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LATHAM, N.Y. and BANGALORE, India, Oct. 14, 2009 (GLOBE NEWSWIRE) -- Plug Power Energy India Pvt. Ltd, an affiliate of the leading US-based fuel cell manufacturer, Plug Power Inc. (Nasdaq:PLUG - News), and SFO Technologies, (A NeST Group Company) announced today that they have signed into a strategic manufacture and supply agreement for the build of Plug Power's GenSys(R) fuel cell systems in India.


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The companies have entered into a five-year agreement where NeST will manufacture Plug Power's fuel cell systems in India. NeST will also provide support for vendor development, procurement, manufacturing, testing and shipment of the GenSys systems. NeST provides Plug Power with world-class manufacturing and supply expertise in the Indian telecommunications market. At the same time, their ideal location allows for the export of products to other key markets in Africa and Asia.



The companies are currently preparing for the production of the first 200 GenSys units sold to WTTIL, the cell tower arm of Tata Teleservices Limited (TTSL), announced in July of this year. Plug Power expects to have all 200 units shipped by the end of March, 2010 and install approximately 1,000 systems throughout India by the end of the same year. The Indian telecommunications market is expected to grow with the approximate addition of 50,000 towers annually over the next three to five years.



GenSys(R) provides continuous power to cell tower sites with no or extremely unreliable electric grid service. An estimated ten percent of the cell towers in India currently operate completely off-grid where the primary power is provided by diesel generators. Plug Power's GenSys units are fueled by Liquid Petroleum Gas (LPG), allowing the customer to eliminate logistics associated with the delivery of pure hydrogen.



"This is a great opportunity for NeST to support the fast growing fuel cell market," said Mr. N. Jahangir, Vice Chairman and Managing Director of the NeST Group. "This is an ideal product for NeST to demonstrate its vertically integrated capability in electronics, wire harness, power supply, sheet metal, plastics and box build. NeST is grateful to Plug Power for selecting us as their manufacturing partner, which I consider as recognition of our demonstrated capability in global competitiveness, quality and fulfillment. NeST is committed to make Plug Power successful and grow in this product area."



"Plug Power is very impressed with the unique combination of significant vertical integration, quality manufacturing and focus on customer satisfaction provided by NeST," said Mr. Scott Egbert, Managing Director of Plug Power Energy India. "NeST's stellar management team and globally diverse design and manufacturing services allowed Plug Power to confidently enter into this partnership as a way to offer the highest-quality and lowest-cost commercial product to customers.



About Plug Power Inc.



Plug Power Inc. (Nasdaq:PLUG - News), an established leader in the development and deployment of clean, reliable energy solutions, integrates fuel cell technology into motive and continuous power products. The Company is actively engaged with private and public customers in targeted markets throughout the world. For more information about how to join Plug Power's energy revolution as an investor, customer, supplier or strategic partner, please visit Plug Power.



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