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To: Jeffrey L. Henken who wrote (697)	12/23/1998 4:32:00 PM
From: Dr. Harvey	Respond to of 939

Plug Power Makes Major Advance in Fuel Cell Commercialization; Runs System on Natural Gas LATHAM, N.Y., Dec. 23 /PRNewswire/ -- In a move that could affect the manner in which millions of homes receive electricity, Plug Power today announced that it has completed the successful demonstration of a natural gas-based proton exchange membrane (PEM) fuel cell system. The residential- sized system -- which includes a fuel cell stack, power conditioner and a Johnson Matthey fuel processor -- produced in excess of 4 kW of electricity this week at the company's upstate New York development facility. The operation of a complete system on natural gas is an important step toward bringing Plug Power's residential units to market in 2001. The natural gas breakthrough means that the more than 70 million homes that already use natural gas for heating and cooking in the US alone will eventually be able to use natural gas-powered fuel cells to meet all their energy needs. By coupling the use of low-cost fuels like natural gas with the high efficiency of fuel cell technology, it is estimated that the cost to consumers for electricity will be as much as 20 percent less than current electricity costs. ''This event represents a significant juncture in our company's goal of advancing home fuel cell technology,'' said Gary Mittleman, President & CEO. ''Though Plug Power is designing systems to run off a variety of fuels, the ability to utilize the existing natural gas infrastructure provides an important benefit to homeowners in our largest target markets -- the United States and Europe.'' The natural gas system utilizes the same design as Plug Power's 7 kW fuel cell prototype -- which has operated since June of 1998 on hydrogen and was the first PEM fuel cell system to provide a home's complete electricity independent from the utility grid. This week, Plug Power integrated a Johnson Matthey HotSpot™ natural gas fuel processor into its fuel cell system. The AC electricity generated from the fuel cell was used to power part of the company's laboratory facility. Last month, Plug Power also operated a methanol-based fuel cell power generation system. ''Plug Power's mission is to become the first company to make and profitably sell one million fuel cell systems; the achievements of the past six months play a large role in our realization of that endeavor,'' Mittleman added. According to Dr. Jack Frost, Johnson Matthey's Fuel Cell Business Manager, ''The use of fuel cells in the home is one of the most exciting revolutions in energy generation the world has seen. It has the potential to provide cheaper and cleaner power where people need it most. The reduction in CO2 emissions made possible by these systems will benefit the whole planet. We are delighted that Johnson Matthey's expertise in fuel conversion technology has helped Plug Power to make this demonstration possible.'' Johnson Matthey PLC is a global company with headquarters in the United Kingdom. Its shares are quoted on the London Stock Exchange (JMAT) and it also has a Level 1 ADR program in the United States (OTC Bulletin Board: JMPLY - news). Johnson Matthey is a world leader in advanced materials technology, applying the latest technical skills to add real value to precious metals and other specialized materials. Among its principal activities are the manufacture of specialty chemicals, catalysts and pollution control systems, pharmaceutical compounds and the refining, fabrication and marketing of platinum group metals. Johnson Matthey's web site address is www.Matthey.com. Based in Latham, N.Y., Plug Power (www.plugpower.com) is a joint venture between DTE Energy Company (NYSE: DTE - news), a diversified energy company involved in the development and management of energy-related businesses and services and parent company of Detroit Edison, Michigan's largest utility, and Mechanical Technology Inc. (OTC Bulletin Board: MKTY - news), an early developer of fuel cell technologies. Plug Power was formed to develop and manufacture fuel cells for electric power generation in residential and automotive applications. Formed in June 1997, Plug Power has grown from 22 to more than 150 employees, making it the largest PEM fuel cell company in the U.S. The National Energy Resources Organization awarded Plug Power the 1998 Research and Development Award for its fuel cell breakthroughs.