President's Message

To All Plug Power Stakeholders:

As an established leader in the fuel cell industry, Plug Power continues to build its customer base with an expanding portfolio of commercial products. We have installed more than 1,000 fuel cell systems throughout the world with our commercial products for material handling, prime and backup power applications — more than anyone else in the industry. Our extensive experience has taught us a great deal about our technology, our products and the markets we serve. Our success hinges on our ability to build products and services that fundamentally improve the business of our customers.

During 2008, we focused our efforts on planning and restructuring to create a customer- and market-focused organization that more readily builds product and service solutions that lead to outstanding customer experiences. We expect this to translate into robust growth. In fact, we are already seeing it in our GenDrive line of fuel cell power units for electric lift trucks. GenDrive is a prime example of customer focused-planning that has clearly demonstrated its economic value through enhanced productivity and lower operational costs at customer sites throughout North America.

Going forward we will bring our products to market more rapidly, ensure outstanding customer experiences, and build deep customer relationships that drive our business forward. With the near-term potential of GenDrive and the longer-term and larger market potential of GenSys, we are poised for success now and prepared for even more success well into the future.

Power Ahead,

Andy Marsh
President and CEO, Plug Power