Plug Power Inc. (NASDAQ: PLUG), a leading provider of turnkey
hydrogen solutions building the global green hydrogen economy,
announced that Food Logistics, the only publication exclusively
dedicated to covering the movement of product through the global
cold food supply chain, has awarded Plug Power’s Chief Strategy
Officer, Sanjay Shrestha, a winner of its 2021 Rock Stars of the
Supply Chain award.
Under Shrestha’s leadership, in June 2020, Plug
Power closed the acquisitions of two companies involved in
producing and transporting green hydrogen, United Hydrogen and
Giner ELX, positioning Plug Power to transition to zero-carbon
hydrogen solutions. These vertical integrations are in line with
Plug Power’s green hydrogen business strategy, and in fact has
allowed Plug Power to recently increase green hydrogen generation
targets to 500 tons per day by 2025 and 1,000 tons per day before
2028. Working with partners, Plug Power has continued to make
progress on moving multiple plants forward with expected completion
of two green hydrogen generation plants by the end of 2022.
According to Bloomberg New Energy Finance, the
global hydrogen economy could reach $10 trillion by 2050,
representing 18% of the global energy demand. Shrestha’s strategy
has aligned Plug Power to build a resilient, first of a kind, green
hydrogen network in the US to support the mission to decarbonize
the broader transportation and logistics industries, a mission
shared by both Plug Power and its customers.
“As Plug Power’s Chief Strategy Officer, Sanjay
Shrestha has been integral in growing the green hydrogen economy to
support the zero-carbon fuel needs of cold chain customers
including Walmart, Kroger, Wegmans and FreezPak – all of which have
aggressive sustainability goals they are working to meet,” said
Andy Marsh, Plug Power CEO. “We’re honored to see him receive this
award.”
“Plug Power’s green hydrogen strategy positions
us to be an industry leader in the $10T hydrogen economy,” said
Sanjay Shrestha. “The market for green hydrogen remains substantial
on a global basis, primarily seeing demand from transportation,
logistics and supply chain operations. I’m honored to be recognized
for my impact in firming this economy for Plug Power and global
energy consumers.”
The Food Logistics Rock Stars of the Supply
Chain award recognizes influential individuals in the industry
whose achievements, hard work and vision have shaped the global
cold food supply chain.
“These professionals are making waves in an
industry upended by the global pandemic. Whether it’s pivoting into
a different channel or implementing emerging technologies, these
supply chain leaders prove that hard work pays off,” says Marina
Mayer, Editor-in-Chief of Food Logistics and Supply & Demand
Chain Executive. “These winners collaborated, optimized, developed,
educated and played a critical role in the survival and success of
their company amid a global pandemic. I am honored to recognize
these individuals, and continue to extend my utmost gratitude to
everyone in the cold food supply chain industry for their time,
efforts and innovations to keep food moving through the chain in a
safe and efficient manner.”
The Food Logistics Rockstar of Supply Chain
award launched in 2015 and each year an individual from Plug Power
has been named to the list for their efforts in driving innovation
within the industry. Past Plug Power recipients include Andy Marsh,
CEO; Tim Cortes, VP of hydrogen energy systems; Dustan Skidmore, VP
of engineering; Jose Luis Crespo, VP of global sales; and Philippe
Boisvert, director of field applications engineering.
About Food LogisticsFood Logistics is published
by AC Business Media, a business-to-business media company that
provides targeted content and comprehensive, integrated advertising
and promotion opportunities for some of the world’s most recognized
B2B brands. Its diverse portfolio serves the construction,
logistics, supply chain and other industries with print, digital
and custom products, events and social media.
About Plug PowerPlug Power is building the
hydrogen economy as the leading provider of comprehensive hydrogen
fuel cell turnkey solutions. The Company’s innovative technology
powers electric motors with hydrogen fuel cells amid an ongoing
paradigm shift in the power, energy, and transportation industries
to address climate change and energy security, while meeting
sustainability goals. Plug Power created the first commercially
viable market for hydrogen fuel cell technology. As a result, the
Company has deployed over 40,000 fuel cell systems for e-mobility,
more than anyone else in the world, and has become the largest
buyer of liquid hydrogen, having built and operated a hydrogen
highway across North America. Plug Power delivers a significant
value proposition to end-customers, including meaningful
environmental benefits, efficiency gains, fast fueling, and lower
operational costs. Plug Power’s vertically-integrated GenKey
solution ties together all critical elements to power, fuel, and
provide service to customers such as Amazon, BMW, The Southern
Company, Carrefour, and Walmart. The Company is now leveraging its
know-how, modular product architecture and foundational customers
to rapidly expand into other key markets including zero-emission
on-road vehicles, robotics, and data centers. Learn more at
www.plugpower.com.
Forward-Looking StatementsThis communication
contains "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995 that involve
significant risks and uncertainties about Plug Power Inc.("PLUG"),
including but not limited to statements about PLUG's expectations
regarding its multi-year investment and growth , PLUG’s clean
hydrogen technology and fuel cell solutions playing a critical role
in achieving climate and decarbonization goals, deepening of
relationships with key stakeholders, and acceleration of demand and
adoption of hydrogen technology . You are cautioned that such
statements should not be read as a guarantee of future performance
or results, and will not necessarily be accurate indications of the
times that, or by which, such performance or results will have been
achieved. Such statements are subject to risks and uncertainties
that could cause actual performance or results to differ materially
from those expressed in these statements. For a further description
of the risks and uncertainties that could cause actual results to
differ from those expressed in these forward-looking statements, as
well as risks relating to the business of PLUG in general, see
PLUG’s public filings with the Securities and Exchange Commission,
including the “Risk Factors” section of PLUG’s Annual Report on
Form 10-K for the year ended December 31, 2019 and Quarterly
Reports on Form 10-Q for the quarters ended March 31, 2020, June
30, 2020 and September 30, 2020. Readers are cautioned not to place
undue reliance on these forward-looking statements. The
forward-looking statements are made as of the date hereof, and PLUG
undertakes no obligation to update such statements as a result of
new information.
Plug Power Media ContactIan MartoranaThe
Bulleit Group(415) 237-3681plugpowerpr@bulleitgroup.com
Plug Power (NASDAQ:PLUG)
Historical Stock Chart
From Mar 2024 to Apr 2024
Plug Power (NASDAQ:PLUG)
Historical Stock Chart
From Apr 2023 to Apr 2024