Plug Power Welcomes Ole Hoefelmann as General Manager of Electrolyzer Business

LATHAM, N.Y., Jan. 19, 2021 (GLOBE NEWSWIRE) -- (NASDAQ: PLUG), a leading provider of hydrogen, hydrogen engines and fueling solutions enabling e-mobility, is pleased to announce that Ole Hoefelmann is joining the Company as General Manager of its electrolyzer business. As general manager (GM), Mr. Hoefelmann will be responsible for the sales, product management, product development and business strategy of Plug Power’s PEM-electrolyzer offering. His executive experience and industry knowledge adds to Plug Power’s management team, further positioning Plug Power to scale the business.

Mr. Hoefelmann is an expert voice in the global hydrogen economy. His career includes an impressive 30-year tenure at Air Liquide S.A., with extensive international experience spanning the US, Korea, France, Spain, Portugal, and Germany. He notably served as CEO for Air Liquide in Iberia, COO Industrial Customers US, Chairman of Air Liquide Advanced Materials, CEO Advanced Technologies US, Vice President Hydrogen Energy Americas, and most recently Vice President Markets, Strategy, Innovation, Strategic Accounts, and Communication for the World Business Line Industrial Merchant.

In these roles, Mr. Hoefelmann led almost 3,000 employees, developed commercialization strategies to scale hydrogen fuel production from small to high-volume manufacturing, influenced safety education and protocol, and accelerated growth in new markets, including transportation. In fact, Mr. Hoefelmann created the Hydrogen Energy Americas organization with the purpose of developing a strong presence in the fuel cell energy transportation sector, resulting in Air Liquide announcing a hydrogen refueling network in collaboration with Toyota in the Northeast US. Additionally, the organization enabled the expansion of Air Liquide’s Hydrogen Fueling Network in California, highlighted by the investment in low carbon hydrogen production and distribution in Nevada.

“I am thrilled to welcome Ole to the Plug Power team to run our electrolyzer business,” said Andy Marsh, CEO of Plug Power. “Ole brings three decades of hydrogen knowledge to Plug Power and his experience and leadership is crucial in our efforts to scale our green hydrogen and electrolyzer offering. His work has influenced every segment of the global economy we are thriving in today. Ole is joining Plug Power at one of the most exciting times as we rapidly scale our green hydrogen business.”

“Plug Power’s influence on green hydrogen is undeniable as Plug Power has built the first commercial market for fuel cells and hydrogen, focusing on the value proposition to its customers, leveraging Plug’s capabilities and rapidly expanding,” said Ole Hoefelmann, new Plug Power GM for Electrolyzers. “I’m privileged to join such a brilliant team and lead Plug Power’s successful green hydrogen program to develop comprehensive low-cost electrolyzer solutions, deploying 500mW by 2024. Thank you for the opportunity.”

Mr. Hoefelmann has served as chair and vice-chair for the California Fuel Cell Partnership (CaFCP) and Vice Chair of Fuel Cell and Hydrogen Energy Association (FCHEA). He holds an MBA in International Business from Saint Mary’s College in California.

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 .

Safe Harbor Statement

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.

SOURCE: PLUG POWER Media Contact

Ian Martorana

The Bulleit Group