- For the sixth year, a Plug Power employee is recognized for their vision, influence and achievements within the supply chain industry
LATHAM, N.Y.– 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 Logistics
Food 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 Power
Plug 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.
This 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.
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