The DOE last week announced $100 million in awards to fund 25 projects as part of an initiative to reduce the country's dependence on foreign energy sources through the research, development and deployment of transformational new clean energy technology.

"This round of DOE funding represents a clear commitment to hydrogen fuel cells as a viable solution to the nation's energy needs," said Roger Saillant, Plug Power's CEO. "And as the only non-governmental entity receiving more than two awards, we see this as validation of Plug Power's position among the leaders in the development and commercialization of stationary fuel cells."

    Specifically, Plug Power will receive:

    * $4 million for development and demonstration of an ethanol-based, grid-
      connected system with the U.S. Army Engineer Research and Development
      Center's Construction Engineering Research Laboratory
    * $3.6 million for the international development and demonstration of a
      high temperature combined heat and power proton exchange membrane (PEM)
      fuel cell system targeted for multi-family home applications. This is
      the first project of its kind, with joint collaboration between the DOE,
      the European Union, Plug Power's office in The Netherlands and European
      partners including the Vaillant Group.
    * $1 million for the development of a new design for a prototype 1kW PEM
      fuel cell stack

Plug Power will shortly begin negotiating with its subcontractors and with the DOE to finalize the terms and conditions related to these awards.

About Plug Power

Plug Power Inc. is an established leader in the deployment of clean, reliable, on-site energy products. More than 650 Plug Power fuel cell systems have been delivered to customers worldwide in commercial, public sector, telecommunications, utility and uninterruptible power supply markets. For more information about how to join Plug Power's energy revolution as an investor, customer, supplier or strategic partner, please visit www.plugpower.com.