Next Phase for NY Home Energy Station Announced

LATHAM, N.Y.– On-site energy provider Plug Power Inc. announced recently an agreement with Honda R&D Co., Ltd. of Japan to continue development of a Home Energy Station.

The new agreement comprises the second phase of an expected multi-phase product development effort. The companies completed the first phase of the agreement in October 2003 with the successful demonstration of a prototype Home Energy Station[A1] at Honda R&D Americas’ facility in Torrance, California.

The work under the second phase of the project will focus on developing a next-generation prototype of the Home Energy Station. As in the first phase, Honda R&D of Japan will fund Plug Power’s work under this new agreement.

“Honda has very high standards for strategic partnerships, and we are pleased to be moving forward with them,” said Dr. Roger B. Saillant, Plug Power Chief Executive Officer. “It is becoming more and more evident that the Home Energy Station could become a critical element in the emerging hydrogen economy.”

The Home Energy Station is a fuel cell system that provides electricity and heat to a home or business, while also providing hydrogen fuel for a fuel cell vehicle. The product is fueled by natural gas and is expected to be more environmentally friendly than traditional energy devices due to its higher efficiency and lower emissions.