Plug Power Announces Preeti Pande as New Chief Marketing Officer
Plug Power Inc. (NASDAQ:PLUG) has appointed Preeti Pande as Chief Marketing Officer to enhance growth and brand recognition in the hydrogen market. Pande brings extensive experience from Bloom Energy, where she managed product life cycles and market entry strategies. CEO Andy Marsh expressed excitement about her ability to drive market expansion. Plug Power aims to lead the emerging $10T hydrogen economy and continues to innovate in hydrogen fuel technology, having deployed over 40,000 fuel cell systems worldwide.
- Appointment of Preeti Pande as CMO expected to enhance marketing strategy and brand growth.
- Pande's extensive experience in the fuel cell industry positions Plug Power for better market expansion.
- Company aims to lead the emerging $10T hydrogen economy with innovative hydrogen solutions.
- Risks of continued losses and challenges achieving profitability.
- Potential need for additional capital funding may pose financial risks.
- Manufacturing and marketing experience gaps could impact product rollout.
LATHAM, N.Y., Feb. 11, 2021 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ:PLUG), a leading provider of turnkey hydrogen solutions, today announced Preeti Pande as its new Chief Marketing Officer. As Chief Marketing Officer, Preeti will lead and facilitate growth and increased sales by developing a comprehensive marketing strategy that will promote brand recognition and transform the green energy market through Plug Power’s hydrogen solutions. As Plug Power continues to expand into new global markets, Pande will be instrumental in ensuring that its products and solutions are responsive to market needs, and in shaping the company’s role in the emerging
Pande has extensive experience in the fuel cell industry, having previously served in roles both as Vice President of Product and Vice President of Strategic Initiatives for Bloom Energy. She was responsible for managing the product life cycle, and defining integrated product offerings and product roadmaps for the next generation of fuel cell technologies and energy solutions. She was also responsible for Bloom Energy’s entry into maritime transport markets.
“I am passionate about building world class teams to deliver products and solutions that customers love,” said Preeti Pande. “Plug Power has transformed how alternative energy is adopted at a commercial level. I’m honored to be part of Plug Power, delivering on the promise of the hydrogen economy.”
Preeti developed and launched multiple technology platforms across North America, Asia and Europe. Prior to her work at Bloom, Pande was Vice President of Business Development at Shocking Technologies. She also held senior positions in the semiconductor industry, as General Manager for the Advanced Test Solutions business Unit at Kulicke and Soffa, and as Senior Director of Product Marketing and Management at Asyst Technologies.
“We are all very excited to welcome Preeti to Plug Power as Chief Marketing Officer,” said Andy Marsh, CEO of Plug Power. “Her extensive background in marketing and product development combined with her international experience in growing new markets will enable Plug Power to deliver on our goals in the near term and beyond.”
Pande holds a Ph.D. in Materials Science and Engineering from University of Arizona.
About Plug Power
Plug Power is building the hydrogen economy as the leading provider of comprehensive hydrogen fuel cell (HFC) 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 providing efficiency gains and meeting sustainability goals.
Plug Power created the first commercially viable market for HFC 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.
Safe Harbor
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 growth in Europe, revenue, growth with GenKey customers and its project financing platform. 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. In particular, the risks and uncertainties include, among other things, the risk that we continue to incur losses and might never achieve or maintain profitability; the risk that we will need to raise additional capital to fund our operations and such capital may not be available to us; the risk that our lack of extensive experience in manufacturing and marketing products may impact our ability to manufacture and market products on a profitable and large-scale commercial basis; the risk that unit orders will not ship, be installed and/or converted to revenue, in whole or in part; the risk that pending orders may not convert to purchase orders, in whole or in part; the risk that a loss of one or more of our major customers could result in a material adverse effect on our financial condition; the risk that a sale of a significant number of shares of stock could depress the market price of our common stock; the risk that negative publicity related to our business or stock could result in a negative impact on our stock value and profitability; the risk of potential losses related to any product liability claims or contract disputes; the risk of loss related to an inability to maintain an effective system of internal controls or key personnel; the risks related to use of flammable fuels in our products; the cost and timing of developing, marketing and selling our products and our ability to raise the necessary capital to fund such costs; the ability to achieve the forecasted gross margin on the sale of our products; the risk that our actual net cash used for operating expenses may exceed the projected net cash for operating expenses; the cost and availability of fuel and fueling infrastructures for our products; market acceptance of our products, including GenDrive, GenSure and GenKey systems; the volatility of our stock price; our ability to establish and maintain relationships with third parties with respect to product development, manufacturing, distribution and servicing and the supply of key product components; the cost and availability of components and parts for our products; our ability to develop commercially viable products; our ability to reduce product and manufacturing costs; our ability to successfully expand our product lines; our ability to successfully expand internationally; our ability to improve system reliability for our GenDrive, GenSure and GenKey systems; competitive factors, such as price competition and competition from other traditional and alternative energy companies; our ability to protect our intellectual property; the cost of complying with current and future federal, state and international governmental regulations; risks associated with potential future acquisitions; and other risks and uncertainties referenced in our public filings with the Securities and Exchange Commission (the “SEC”). For additional disclosure regarding these and other risks faced by PLUG, see disclosures contained in PLUG's public filings with the SEC including, the "Risk Factors" section of PLUG's Annual Report on Form 10-K for the year ended December 31, 2018. You should consider these factors in evaluating the forward-looking statements included in this presentation and not place undue reliance on such 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.
Media Contact
Ian Martorana
The Bulleit Group
plugpowerPR@bulleitgroup.com
SOURCE: PLUG POWER
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