Fuel Cell Company Plug Power Inc. Approved as Ceres Company
BOSTON — Citing the company’s mission to transform the energy industry in ways that will benefit the economy and the environment, the Ceres board of directors announced today that it has approved Plug Power Inc. as a Ceres company.
Plug Power, based in Latham, NY, is the first fuel cell company to join Ceres, a leading coalition of investors, environmental groups and other public interest organizations working with companies to address sustainability challenges such as global climate change. Plug Power is among more than 70 companies in the Ceres network, including 20 Fortune 500 companies.
Plug Power is a leader in the design, development and manufacturing of on-site energy systems for consumers worldwide. The company is focused on fuel cell technology and the delivery of reliable, cost-effective, environmentally friendly technology. Plug Power’s sustainability initiative is in its early stages, but its current sustainability program involves every level of its workforce, including its board of directors.
Plug Power joined Ceres to improve its engagement with investors, environmental groups and other stakeholders, as well as to develop a sustainability report, and draw on the experiences of other Ceres companies.
“Ceres is excited to bring a cutting-edge business and sustainability leader like Plug Power into its fold,” said Mindy S. Lubber, president of Ceres. “Consumers are increasingly demanding alternative energy technologies, and Plug Power is positioning itself to meet that demand.”
Plug Power’s early actions to incorporate sustainability into its business practices include:
- Incorporating sustainability training into its web-based education systems for new and existing employees
- Creating an audit system to accurately measure its waste stream, emissions and resource use already resulting in the development of a comprehensive recycling program
- Recognizing possibilities for product recycling and the potential for a take-back program; Plug Power fuel cells are designed to facilitate recycling and reuse, and Plug Power is continuing to develop products that can be broken down and recycled safely at any remote location
“Plug Power’s sustainability initiative is a companywide effort to enhance our performance, as well as improve our business processes,” said Dr. Roger Saillant, President and CEO of Plug Power. “Ceres has been a leading organization in the advancement of environmental and social sustainability, and we look forward to working with them.”
Companies that join Ceres must commit to engage with shareholders and other stakeholders on sustainability issues, to report publicly on sustainability performance, and to make additional sustainability improvements.
Founded in 1989, Ceres is a leading network of investors, environmental groups and other public interest organizations working with companies to address sustainability challenges such as global climate change. Ceres also directs the Investor Network on Climate Risk, comprised of more than 50 institutional investors who collectively manage $4 trillion in assets. For more information, visit http://www.ceres.org.
About Plug Power
Plug Power Inc. (NASDAQ: PLUG), an established leader in the development and deployment of clean, reliable, on-site energy products, currently integrates fuel cell technology into backup power products for telecommunications, utility and uninterruptible power supply applications, as well as motive power products for material handling applications. The company is actively engaged with private and public customers in targeted markets throughout the world, including North America, Europe, the Middle East, Russia, South Africa and South America. For more information about how to join Plug Power’s energy revolution as an investor, customer, supplier or strategic partner, please visit www.plugpower.com.