Plug and Uline Expand Partnership to Supply Hydrogen and Fuel Cells at Four Additional Sites

LATHAM, N.Y., Feb. 23, 2024 (GLOBE NEWSWIRE) -- Plug Power Inc. PLUG, a global leader in comprehensive hydrogen solutions for the green hydrogen economy, and Uline, the leading distributor of shipping, industrial and packaging materials to businesses throughout North America, announced their expanded partnership to deploy Plug's hydrogen infrastructure and fuel cell solutions at Uline's new campus in Kenosha, Wisconsin.

This expanded partnership includes the integration of on-site hydrogen infrastructure with the installation of a 18,000-gallon hydrogen storage tank and 17 hydrogen dispensers to service four distribution centers within the campus. The partnership also includes the addition of 250 fuel cell forklifts that will operate on hydrogen generated on-site through Plug's state-of-the-art infrastructure.

"When we first partnered with Plug, fuel cells were still in their infancy," said Wade Goff, Director of Redistribution. "They've made our associates more productive because refueling is faster and easier than changing a battery. Hydrogen is a good match with Uline's three operating principles: Speed, Passion and Operational Excellence."

Plug's hydrogen infrastructure to support the entire campus is set to be commissioned and fully operational within the next ten months, with the first new distribution center in the campus slated to be completed this year. Uline plans to construct three more buildings over the next several years as part of the strategic campus build out.

"The ongoing expansion of our eight-year partnership with Uline stands as a testament to the remarkable impact our hydrogen and fuel cell technology has on material handling operations," said CEO, Andy Marsh. "Given Uline's business strategy of same day turn-around, productivity and predictability are important and are key benefits that Plug's fuel cell solutions deliver to Uline."

The collaboration between Plug and Uline began in 2015 at Uline's distribution center near its 200-acre corporate campus in Pleasant Prairie, Wisconsin. Over the past 8 years, Uline has used Plug's fuel cell solutions in its operations, operating 270 fuel cell forklifts between their six facilities. With this expanded partnership, Uline will operate a total of 520 fuel cells and 34 dispensers across ten facilities, making them one of the largest Plug customers.

About Plug

Plug is building an end-to-end green hydrogen ecosystem, from production, storage, and delivery to energy generation, to help its customers meet their business goals and decarbonize the economy. In creating the first commercially viable market for hydrogen fuel cell technology, the company has deployed more than 60,000 fuel cell systems and over 180 fueling stations, more than anyone else in the world, and is the largest buyer of liquid hydrogen.

With plans to operate a green hydrogen highway across North America and Europe, Plug built a state-of-the-art Gigafactory to produce electrolyzers and fuel cells and is developing multiple green hydrogen production plants targeting commercial operation by year-end 2028. Plug delivers its green hydrogen solutions directly to its customers and through joint venture partners into multiple environments, including material handling, e-mobility, power generation, and industrial applications.

For more information, visit www.plugpower.com.

Plug Power Safe Harbor Statement

This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties about Plug Power Inc. ("PLUG"), including but not limited to statements about: Plug and Uline expanding their partnership; Uline deploying Plug hydrogen infrastructure and fuel cells at Uline's new campus in Kenosha, Wisconsin; Integration of on-site hydrogen infrastructure, installation of a 18,000 gallon hydrogen storage tank and 17 hydrogen dispensers that will service four distribution centers; The addition of 250 fuel cell forklifts that will operate on hydrogen generated on-site through Plug's infrastructure; Plug's hydrogen infrastructure to be commissioned and operational within the next ten months, with the first new distribution center slated to be completed this year; Uline's plans to construct three more buildings over the next several years as part of the strategic campus build out; Uline operating a total of 520 fuel cells and 34 dispensers across ten facilities; Plug's development of multiple green hydrogen production plants targeting commercial operation by year-end 2028. Such statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in these statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of PLUG in general, see PLUG's public filings with the Securities and Exchange Commission (the "SEC"), including the "Risk Factors" section of PLUG's Annual Report on Form 10-K for the year ended December 31, 2022 and any subsequent filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made as of the date hereof, and PLUG undertakes no obligation to update such statements as a result of new information.

MEDIA CONTACT

Kristin Monroe

Allison+Partners

plugPR@allisonworldwide.com