Plug Power and Honda Prep for Next Phase of Home Energy Station

 

March 23, 2006

"We are excited to announce the completion of these contracts and the achievement of our public milestone related to our continuing relationship with Honda," said Mark Sperry, Plug Power Chief Marketing Officer. "We are honored to be working with Honda on such important initiatives and look forward to the benefits of our ongoing and growing collaboration."

The agreements represent a continuation of earlier collaborative efforts between the two companies, after having completed the previous phase in November 2005 with the commissioning of the third-generation Home Energy Station at Honda R&D America's facility in Torrance, California. It is 30 percent smaller in size than its predecessor, with 25 percent more power output, greater hydrogen storage capacity, higher efficiency and faster startup. The continued phase-over-phase improvement trend is expected to continue with Phase 4.

The second new agreement is focused on fundamental R&D work that Plug Power is conducting under funding from Honda. This agreement is focused on the advancement of technology for future Home Energy Stations, as well as more generalized applications, which are expected to benefit other Plug Power products. The system is expected to be more environmentally friendly than traditional energy devices due to its higher efficiency and lower emissions.