Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : YEEHAW CANDIDATES -- Ignore unavailable to you. Want to Upgrade?

To: Galirayo who wrote (16734)	3/27/2006 8:04:14 AM
From: Galirayo	Respond to of 23958

[PLUG] This should be good news actually. Maybe they'll sell more units now. Form 8-K for PLUG POWER INC -------------------------------------------------------------------------------- 27-Mar-2006 Termination of a Material Definitive Agreement, Change in Directors or Principal O biz.yahoo.com Item 1.02. Termination of a Material Definitive Agreement. Summary Plug Power Inc. (the "Company") has restructured its relationship with GE MicroGen, Inc. ("GE MicroGen") a wholly owned subsidiary of General Electric Company ("GE") that operates within the GE Energy (formerly known as GE Power Systems) business by entering into a development collaboration agreement and terminating its existing distribution joint venture. This new agreement supports a broad range of collaborative development opportunities, as well as the Company's testing and evaluation of GE component fuel cell technologies. The companies are also expected to continue their mutual cooperation around global market opportunities, and to continue providing the Company with access to GE's broad capabilities and resources. Concurrent with the execution of the development collaboration agreement, the Company and GE are terminating their joint venture, GE Fuel Cell Systems ("GEFCS"), and the associated distributor and other agreements. The Company and GE agreed that GEFCS was not an effective entity for marketing the Company's products. Accordingly, the exclusive product distribution and service rights that had been granted by the Company to GEFCS will now revert back to the Company and, in the case of certain products, the Company will no longer be required to pay commissions to GE on third-party sales. The Company may now freely sell its products to the partners and customers it determines are most effective in executing its business plan, with no further obligations to GE. Following is further information related to the agreements being terminated.