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Automotive Power
All the latest news from R&D to the commercialization of the Automotive Fuel Cell Market.
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Plug Power Inc. (Nasdaq:PLUG - News), a leader in providing clean, reliable energy products, today announced that Mr. Douglas T. Hickey has rejoined the Company's Board of Directors. Mr. Hickey previously sat on Plug Power's Board from September 1, 2000 to April 24, 2006.
Mr. Hickey most recently was Managing Director at Hummer Winblad Venture Partners (HWVP), one of the nation's leading software venture capital firms.
Prior to joining HWVP in 2001, Mr. Hickey served as CEO for Critical Path, Inc. During his time here, the Company grew revenue from less than $1M to more than $150M and earned Forbes.com Number-One Fastest Growing Company Award in 2000.
Mr. Hickey previously held the CEO and President position for Global Center Inc. Here, he grew the Company revenue from zero to more than $50M of recurring revenue and achieved profitability. His focus of the Company's strategy enabled rapid growth, securing customers like Yahoo, Netscape and Oracle, ultimately leading to the successful sale of the Company to Frontier Communications.
Prior to Global Center, Mr. Hickey was CEO and President of MFS DataNet, the leading supplier of data related services to internet service providers and enterprise customers worldwide. MFS grew to more than $1 billion in revenue and subsequently completed a successful IPO and trade sale.
"Doug's reengagement with Plug Power is a win for the Company, given his broad experience and track record of building profitable businesses," said Andy Marsh, CEO of Plug Power. "We have transformed Plug Power into a sales and marketing driven company, and I'm pleased this got Doug's attention. We are honored to have him help with the execution of our profitability strategy and believe his input will enhance our success."
"Plug Power is executing a plan to penetrate the material handling market with its GenDrive product," said Hickey. "Their growing traction with customers like Sysco, Coca-Cola and Walmart is impressive. I'm excited to be reengaged with the Company as we move down the path toward profitability."
"I'm very excited to welcome Doug back to the Board of Directors," said George McNamee, Chairman. "Now that Plug Power is in the rapid growth stage, his experience as a successful CEO and venture capitalist will be invaluable. We look forward to working with Doug again."
About Plug Power Inc.
The architects of modern fuel cell technology, Plug Power revolutionized the industry with cost-effective power solutions that increase productivity, lower operating costs and reduce carbon footprints. Long-standing relationships with industry leaders forged the path for Plug Power's key accounts, including Wegmans, Whole Foods, and FedEx Freight. With more than 1,200 GenDrive units shipped to material handling customers, accumulating over 4.5 million hours of runtime, Plug Power manufactures tomorrow's incumbent power solutions today. Additional information about Plug Power is available at www.plugpower.com.
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