Plug Power Appoints Dr. Lee Sweetland as Global Engineering Industrialization Lead

Former Ballard Power Systems COO brings extensive experience to advance PEM technology, manufacturing efficiency, and cost competitiveness

SLINGERLANDS, N.Y., Oct. 19, 2026 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the hydrogen economy, today announced the appointment of Dr. Lee Sweetland as Global Engineering Industrialization Lead. Sweetland will lead the industrialization of the company's proton exchange membrane (PEM) stack technology, advancing manufacturing performance, product reliability, and cost competitiveness across Plug's hydrogen portfolio.

"Electrolyzers are a major driver of Plug's growth, and our ability to execute at scale is just as important as winning new business," said Jose Luis Crespo, Chief Executive Officer of Plug. "Lee brings deep experience in industrializing fuel cell technology and improving manufacturing performance. His leadership will help us maximize our investments, strengthen product competitiveness, and advance our path to profitability."

Plug's electrolyzer business continues to gain traction, with major projects advancing across global markets. In Europe, key projects include Iberdrola's 25 MW facility in Spain, Galp's 100 MW project in Portugal, Carlton Power's 30 MW project in the UK, and the recently announced 280 MW Arcadia eFuels e-SAF project in Denmark. In North America, Plug is supporting the development of Hy2gen's 275 MW Courant project in Québec, while momentum in the Asia-Pacific region includes Orica's 50 MW Hunter Valley project in Australia and a recently announced 1 MW electrolyzer project for HWR Hydrogen in New Zealand.

The Rochester, New York Gigafactory is central to supporting this growth, providing critical PEM stack manufacturing capabilities. Sweetland will focus on maximizing the facility's performance and accelerating next-generation stack production.

Sweetland brings extensive experience in fuel cell technology, advanced manufacturing, and operational transformation. He spent eight years at Ballard Power Systems, most recently serving as Chief Operating Officer, following leadership roles as Chief Transformation Officer and Vice President and Director of Advanced Manufacturing. Previously, he held senior manufacturing and operations positions at Johnson Matthey's fuel cell business.

"Plug has established a strong foundation in PEM technology, with significant manufacturing capabilities and a growing global customer base," said Sweetland. "I'm excited to build on that foundation by strengthening how we design, manufacture, and deliver reliable, cost-competitive technology at scale."

His appointment reinforces Plug's focus on operational discipline, margin improvement, and sustainable, profitable growth.

About Plug Power

Plug is building the global hydrogen economy with a fully integrated ecosystem spanning production, storage, delivery, and power generation. A first mover in the industry, Plug provides electrolyzers, liquid hydrogen, fuel cell systems, storage tanks, and fueling infrastructure to customers worldwide across material handling, industrial applications, and energy production, advancing energy independence and decarbonization at scale.

Plug has deployed electrolyzers on five continents, along with more than 76,000 fuel cell systems and 280 fueling stations, and is the world's largest user of liquid hydrogen. Its expanding generation network produces 40 tons of hydrogen per day, supplying large-scale projects that redefine industrial power for customers globally.

Headquartered in New York, with employees and state-of-the-art manufacturing facilities around the world, Plug powers global leaders like BMW, BP, Walmart, Amazon, and Home Depot.

For more information, visit www.plugpower.com.

Foward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which Plug intends to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding the expected impact of Dr. Sweetland’s appointment; improvements in manufacturing performance, product reliability, cost competitiveness, and margins; Plug’s path to profitability; the Rochester, New York Gigafactory and the production of next-generation PEM stacks; and the development, timing, and completion of the electrolyzer projects described in this press release and their conversion into revenue. The words “will”, “expect”, “believe”, “target”, “estimate”, “could”, “should”, “anticipates” and similar expressions identify forward-looking statements. Actual results may differ materially from those expressed or implied due to risks and uncertainties, including: Plug’s ability to integrate Dr. Sweetland and realize the anticipated benefits of his appointment; Plug’s ability to scale PEM stack manufacturing, achieve anticipated cost and margin improvements, and bring next-generation stacks to market on schedule; Plug’s history of operating losses and negative cash flows and its need for additional capital; the risk that customers do not reach final investment decisions, secure financing or permits, or complete projects on schedule, and that projects are delayed, reduced, canceled, or do not convert into revenue; changes in government incentives, tariffs, and trade policy; and the other risks described in Plug’s filings with the Securities and Exchange Commission (the “SEC”), including its most recent Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and its other subsequent filings with the SEC. You should not place undue reliance on these statements, which speak only as of the date of this release. Except as required by applicable law, Plug undertakes no obligation to update them.

Media Contact

Teal Hoyos

media@plugpower.com