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Plug Power Appoints Anastasia Song to Board of Directors
LATHAM, N.Y., Aug 13, 2001 /PRNewswire via COMTEX/ -- Plug Power Inc. (Nasdaq: PLUG) announced the appointment of Anastasia M. Song to the company`s board of directors, effective August 9, 2001.

Song is a director at Global Capital Finance Americas, LLC, a privately owned international asset-based financial advisory firm. The company was formed from Credit Suisse First Boston`s global lease finance group and InnoCap LLC`s U.S. leasing team. The Global Capital Finance team has advised clients on structured financings of over $27 billion in transaction volume for a range of infrastructure assets including wastewater treatment facilities, hydroelectric power plants, transportation and utility facilities.

Song has more than 20 years` experience in the corporate finance industry, specializing in energy/utilities and power generation. Prior to joining Global Capital Finance Americas, Song was a director in the Investment Banking Division of Credit Suisse First Boston where she was responsible for covering electric power, petro-chemical and related energy infrastructures. Prior to joining Credit Suisse First Boston, Song was vice president, Corporate Finance for Sithe Energies, Inc., where she worked on mergers and acquisitions related to major power generation assets.

"Song is a strong, capable, independent executive with extensive financial experience in the energy and utilities sectors, including power generation," said Roger Saillant, Plug Power president and chief executive officer. "She will be a tremendous asset to the Plug Power board."

Plug Power designs and develops on-site electric power generation systems utilizing proton exchange membrane fuel cells for stationary applications. The Latham, N.Y.-based company was founded in 1997, as a joint venture of DTE Energy Company and Mechanical Technology Incorporated. Plug Power Holland was founded in February 2000 as the first European operation base of Plug Power.

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 General Electric; Plug Power`s ability to successfully enter into amended distribution arrangements with General Electric and DTE Energy Technology reflecting the terms of the MOU; 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 final prospectus, dated July 19, 2001 for its recent public offering filed with the Securities Exchange Commission on July 29, 2001, Plug Power`s current report on Form 8-K filed with the Securities and Exchange Commission on June 14, 2001 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.
aus der Diskussion: Plug Power es ist wieder Zeit.
Autor (Datum des Eintrages): ambobobo  (13.08.01 15:23:10)
Beitrag: 16 von 19 (ID:4189925)
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