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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or
15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
August 16, 2024
Plug Power Inc.
(Exact name of registrant as specified in its
charter)
Delaware |
|
1-34392 |
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22-3672377 |
(State
or other jurisdiction |
|
(Commission
File |
|
(IRS
Employer |
of
incorporation) |
|
Number) |
|
Identification
No.) |
|
|
|
|
|
125 Vista Boulevard, Slingerlands, New York |
|
12159 |
(Address
of principal executive offices) |
|
(Zip
Code) |
(518)
782-7700
Registrant’s telephone
number, including area code:
N/A
(Former name or former address, if changed
since last report.)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
¨ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to 12(b) of the Act:
Title of each class |
|
Trading
Symbol(s) |
|
Name of each exchange
on which
registered |
Common
Stock, par value $0.01 per share |
|
PLUG |
|
The
Nasdaq Capital
Market |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth
company ¨
If an emerging growth
company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 5.02 Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 16, 2024, the Board of Directors
(the “Board”) of Plug Power Inc. (the “Company”) appointed Colin Angle as a director of the Company.
Mr. Angle has been designated as a Class III
director to serve until the Company’s 2026 annual meeting of the stockholders or until his successor has been duly elected and qualified,
or until his earlier death, removal or resignation. The Board has determined that Mr. Angle is an independent director as defined
in the NASDAQ Stock Market listing standards and applicable Securities and Exchange Commission rules and regulations.
Prior to joining the Board, Mr. Angle was
chief executive officer of iRobot Corporation (“iRobot”) from June 1997 to January 2024, where he was a co-founder
and served on the board of iRobot from October 1992 to May 2024, including as chairman of the board of iRobot from October 2008
to January 2024. Mr. Angle previously worked at the National Aeronautical and Space Administration’s Jet Propulsion Laboratory,
where he participated in the design of the behavior controlled rovers that led to Sojourner exploring Mars in 1997. He is a director of
Ixcela, Inc., a private biotech company that provides support and treatment for a variety of gut related diseases. Mr. Angle holds a B.S. in Electrical Engineering and an M.S. in Computer Science, both from
the Massachusetts Institute of Technology.
For his service as a non-employee director, Mr. Angle
will be compensated in accordance with the Non-Employee Director Compensation Plan. The Company and Mr. Angle entered into the
Company’s standard indemnification agreement for non-employee directors. There are no arrangements or understandings between Mr. Angle
and any other person pursuant to which Mr. Angle was elected as director. There are no transactions in which Mr. Angle has an
interest requiring disclosure under Item 404(a) of Regulation S-K.
Item 7.01 Regulation FD Disclosure.
On August 22, 2024, the Company issued a
press release with respect to the appointment of Colin Angle to the Board. A copy of the press release is furnished herewith as Exhibit 99.1.
The information included in this Item 7.01 and
Exhibit 99.1 of this Current Report are not deemed to be “filed” for purposes of Section 18 of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”), nor shall this item and Exhibit 99.1 be incorporated by reference into
the Company’s filings under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific
reference in such future filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
|
Plug Power Inc. |
|
|
|
Date: August 22, 2024 |
By: |
/s/ Paul Middleton |
|
|
Name: Paul Middleton |
|
|
Title: Chief Financial Officer |
Exhibit 99.1
Plug Power Appoints Colin Angle, Former CEO
of iRobot, to Board of Directors
SLINGERLANDS,
N.Y., August 22, 2024 – Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for
the green hydrogen economy, today announced the appointment of Colin Angle, former CEO of iRobot, to its Board of Directors. Mr. Angle
brings decades of extensive experience in technology innovation, robotics, and strategic leadership to Plug Power’s Board.
Mr. Angle is widely recognized for his pioneering
work at iRobot, where he co-founded the company and led the development and commercialization of the Roomba robot vacuum, which revolutionized
the home robotics market. Under his leadership, iRobot grew from a small MIT startup to a global publicly traded leader in consumer robotics,
with millions of units sold worldwide.
“We are thrilled to welcome Colin Angle
to our Board of Directors,” said Andy Marsh, CEO of Plug Power. “His visionary leadership and deep understanding of technology
and innovation will be invaluable as we continue to advance our mission of building the hydrogen economy and expanding our global footprint.
Colin’s insights and experience will help guide Plug Power as we scale our operations and deliver on our commitment to sustainability,
revenue growth, and profitability.”
George McNamee, Chairman of Plug Power, added,
“Colin’s track record of transforming cutting-edge technology into successful global products aligns perfectly with Plug Power’s
goals. His experience will provide essential guidance as we continue to push the boundaries of what’s possible in the clean energy
sector. We’re excited to have him on board as we work towards achieving our strategic objectives, focusing on sustainability, revenue
growth, and profitability.”
Mr. Angle said, “I am excited to join
Plug Power’s Board at such a pivotal time for the company and the broader hydrogen industry. I have long admired Plug Power’s
commitment to innovation and its leadership in the clean energy space. I look forward to contributing to the company’s growth and
helping to shape the future of energy.”
With the addition of Mr. Angle, Plug Power
has further strengthened its Board of Directors, each bringing a wealth of experience and enhancing collective expertise in areas critical
to the company’s success. Mr. Angle’s appointment reflects Plug Power’s ongoing commitment to strengthening its
leadership team as it continues to accelerate the adoption of hydrogen and fuel cell solutions worldwide.
About
Plug
Plug
is building an end-to-end green hydrogen ecosystem, from production, storage, and delivery to energy generation, to help its customers
meet their business goals and decarbonize the economy. In creating the first commercially viable market for hydrogen fuel cell technology,
the company has deployed more than 69,000 fuel cell systems and over 250 fueling stations, more than anyone else in the world, and is
the largest buyer of liquid hydrogen.
With
plans to operate a green hydrogen highway across North America and Europe, Plug built a state-of-the-art Gigafactory to produce electrolyzers
and fuel cells and is developing multiple green hydrogen production plants for commercial operation. Plug delivers its green hydrogen
solutions directly to its customers and through joint venture partners into multiple environments, including material handling, e-mobility,
power generation, and industrial applications.
For
more information, visit www.plugpower.com.
MEDIA
CONTACT
Fatimah
Nouilati
Allison
plugPR@allisonpr.com
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