Plug Power has restructured its brands, presenting the ReliOn division, a Plug Power company, under the larger powerhouse umbrella of Plug Power Inc.
Plug Power acquired the Spokane, Washington, corporation in April 2014, adding a talented employee base, valuable fuel cell stack technology and a stationary power fuel cell product offering to its portfolio.
“Pulling the two groups together is a natural evolution for Plug Power as we grow and scale our business,” said Andy Marsh, CEO at Plug Power Inc. “We’ve operated as one company since April, and now it’s time we all share the same identity as Plug Power.”
With this realignment, the ReliOn name will represent the product brand of Plug Power’s stationary power product line. Plug Power’s ReliOn fuel cell product is designed for the backup and grid-support power requirements of the telecommunications, transportation, utility and government sectors. For applications from under 50W to 20kW, Plug Power’s ReliOn solution replaces the majority of backup batteries and mitigates the need for backup generators.
The ReliOn system is currently sold to customers in the United States, Europe, South America, Australia, Africa and Asia. Sales of the Plug Power ReliOn product will remain out of the Spokane, Washington, office and will continue internationally.
GenKey Now Available for Stationary Fuel Cell Market
With the addition of the ReliOn product, the company can bring its turnkey GenKey solution to customers in the stationary fuel cell market, serving telecommunications, grid support, utility and government applications. GenKey combines the ReliOn fuel cells with GenFuel fueling and infrastructure and GenCare ongoing customer support. The availability of GenKey removes the significant hurdle of extensive project management of multiple vendors to adopt hydrogen fuel in these markets.
The GenKey model was successfully launched by Plug Power to material handling customers in January 2014 with GenDrive, a fuel cell system used to power electric lift trucks, as the power solution. Plug Power currently has 11 GenKey site contracts with material handling customers, and expects to see similar adoption from stationary power customers with the ReliOn combination.
Middleton joins as CFO
In other news from Plug Power, the company has announced that Paul B. Middleton, CPA, has been appointed as the company’s new Chief Financial Officer (CFO). Middleton has a proven background in strategy, mergers and acquisitions, controls and risk management for manufacturing and technology companies, and is expected to bring strong leadership in financial management to Plug Power.
Middleton comes to Plug Power from Rogers Corporation, a $600m global manufacturer and distributor of specialty polymer composite materials and components, where he worked for over twelve years. Throughout his tenure, Middleton served in a number of senior financial leadership roles including Principal Accounting Officer, Treasurer, and Interim Chief Financial Officer.