TIC and Plug Power Announce Fuel Cell Agreement

February 18, 2003 by Jeff Shepard

Toshiba International Corp. (TIC, Houston, TX) and Plug Power Inc. (Latham, NY) announced a joint marketing agreement to explore the application of fuel cells for industrial premium power markets. The agreement will define a product that combines Plug Power's proprietary fuel cell technology with TIC's uninterruptible power systems. The companies expect the joint marketing agreement to lead to subsequent product development and commercialization agreements.

"Backup power is a compelling application for Plug Power's fuel cell technology," said Plug Power Chief Marketing Officer Mark Sperry. "We believe this application will deliver tremendous value to TIC's customer base because of its expected extended run capability, low cost of ownership, quiet operation and low emissions. TIC is a supplier of power quality technology to the telecom and IT industries, and we look forward to helping them build a new product in the premium power market."