Plug Power Inc. has announced a new organizational structure and the appointment of four general managers, putting the firm in a position to fulfill expanding demand for its clean energy solutions.
The general managers — Ole Hoefelmann, Jose Luis Crespo, Keith Schmid, and Sanjay Shrestha — will collaborate closely with CEO Andy Marsh during a period when the company anticipates gross billings of $750 million in calendar year 2022 alone. Marsh stated that each general manager has been selected to lead specific business units – a move necessitated as the company transitions from a single integrated business to a portfolio of related businesses to support the global green hydrogen and fuel cell ecosystem.
“Each business unit is critical to the foundation required to scale and support our key objectives for bringing affordable green hydrogen to as many customers as possible,” Marsh said. “We need a scalable organizational structure that allows the business to grow quickly across multiple markets and geographies while rapidly delivering reliable solutions to our customers, and building out the ecosystem.”
The new organizational structure is intended to assist Plug in achieving its stated business growth objectives, which include the construction of five green hydrogen plants, securing and supporting five “pedestal” material handling customers, establishing Plug Power as the world leader in electrolyzer solutions through safe, reliable, and cost-competitive customer offerings, and establishing a Plug Power branded vehicle market.
Hoefelmann, who has over 30 years of expertise in the hydrogen industry, will oversee the Electrolyzer Solutions business unit, where he and his team will drive electrolyzer solution strategy and sales growth by utilizing Plug Power’s existing ambitions to establish a significant global footprint.
Crespo, a seven-year veteran of Plug Power, will oversee the Material Handling Solutions business unit, where he will collaborate closely with other general managers to utilize Plug Power’s market position, drive growth, and enable clients to meet their sustainability goals. Crespo will continue to oversee the coordination of all business unit efforts for major customers such as Amazon, Walmart, Home Depot, and General Motors.
Schmid, who has spent the last eight years with Plug Power and over 30 years in the fields of industrial power systems, energy storage, and communications power systems, will lead the Mobility and Stationary Power Solutions business unit, where he will focus on successfully deploying commercial on-road vehicles, large-scale stationary systems, and establishing a new Plug Power Innovation Center by year’s end, among other initiatives. Schmid is also responsible for Plug Power’s research and development efforts as President of the company’s fuel cell and hydrogen refueling system engineering organizations.
Shrestha will lead the fourth business unit, Energy Solutions, which is tasked with developing the first green hydrogen production network in the United States, including operational green hydrogen plants in North America by 2022 and achieving a 500-ton-per-day green hydrogen generation target by 2025. Since 2019, Shrestha has also served as Plug’s Chief Strategy Officer.
