Plug Power Inc. today announced changes to its corporate management team that provide the structure needed to enable Plug Power to translate success and momentum generated in 2014 into profitable growth opportunities in 2015.
Tim Cortes has joined Plug Power as Vice President of Hydrogen. Cortes will oversee the company’s GenFuel business, including interactions with customers, partners and suppliers critical to increasing Plug Power’s growing market share within the hydrogen fuel industry.
Cortes comes to Plug Power from Smiths Power where he served as Chief Technology Officer and Vice President of Engineering, responsible for research and development, as well as solutions for global applications. During his tenure at Smiths Power, Cortes, with his proven strength in the acceleration of new product development, led the product line expansion that resulted in a doubling of revenue growth in less than six years.
At Plug Power, Cortes will have full responsibility for the many facets of the company’s GenFuel business, which blossomed in 2014. Through efficient and consistent infrastructure deployments at multiple material handling sites, Plug Power validated the advantages of a one-source construction model, while establishing itself as the expert vendor for onsite development of hydrogen delivery, storage and dispensing systems.
Cortes’ knowledge of investment planning to drive product development and market penetration will enable Plug Power to more effectively expand implementation of its GenFuel solution within adjacent segments, while maintaining comprehensive support at existing material handling customer sites.
Cortes takes over this business from Erik Hansen, Plug Power’s former Vice President of Hydrogen, who resigned. “We welcome Tim to the team and thank Erik for his years of service to Plug Power, helping us grow the GenFuel business to its current position,” said Andy Marsh, CEO of Plug Power.
Additionally, Jose Luis Crespo has been promoted to Vice President of Global Sales, a new position for the company. Crespo will assume all responsibilities for the global sales strategy, sales growth and market entry for Plug Power’s GenDrive and ReliOn brands.
Crespo joined Plug Power in January of 2014 to lead international sales and business development activity. In his new position, Crespo will add management of the US sales team to his responsibilities and help them build upon 2014’s successful sales growth with expanded global opportunities in the material handling industry and other industries such as ground service vehicles.
“2014 marked a turning point for our business with the launch of GenKey, strong sales growth and promising new market initiatives,” Marsh said. “These developments set us up for an exciting 2015 and I’m glad to have the leadership of Tim and Jose Luis in these roles to help us to convert this promise into results.”
Both executives will report to Marsh.