Plug Power appoints Sanjay Shrestha President; provides 2025 guidance and 2030 targets

PLUG POWER INC

Sanjay Shrestha appointed President (effective Nov 13, 2024); Andrew Marsh remains CEO.
2025 revenue guidance $850M-$950M; gross margin (20%) to (5%).
Targets 2030 revenue ~$3.75B and gross margin >30%, with ~30% CAGR for Energy and Applications.
2024 milestones: commissioned 15 TPD GA plant, record electrolyzer deployments across 5 continents, initial H2 deliveries to Walmart, Amazon, Home Depot.
Path to profitability: EBITDAS positive 2H 2026, operating income positive exiting 2027, overall profitability exiting 2028.

item 5.02 item 7.01 item 9.01

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Appointed

Sanjay K. Shrestha

President

PLUG · PLUG POWER INC

Effective: 2024-11-13
Filed: November 13, 2024, 6:59 PM ET

On November 13, 2024, Plug Power Inc., a Delaware corporation (the “Company”), announced that Sanjay K. Shrestha has been appointed to serve as the Company’s President, effective November 13, 2024.

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Executive change SEC 8-K Item 5.02 confidence 0.95

Sanjay K. Shrestha was appointed as President at PLUG POWER INC.

Action: appointed
Role: President

Exact text from the filing

On November 13, 2024, Plug Power Inc., a Delaware corporation (the “Company”), announced that Sanjay K. Shrestha has been appointed to serve as the Company’s President, effective November 13, 2024.

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PLUG POWER INC filing history →

Source: SEC EDGAR

accession 0001104659-24-117220

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