Plug Power Inc (NASDAQ:PLUG) announced Monday that it has named Paul Middleton as its new chief financial officer. He will step into the shoes of Dave Waldek on December 1. Waldek has been serving as the fuel cell company’s interim CFO. Middleton has extensive experience in international markets and acquisitions.
Chris Hutter was unable to join Plug Power
Before joining Plug Power, Middleton held several positions at Rogers Corporation (NYSE:ROG), including treasurer, principal accounting officer and CFO. He spent about 12 years at Rogers, which manufactures polymer composite materials. Prior to Rogers, he worked at Cooper Industries. Middleton holds a master’s in accounting from the University of Central Florida.
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In September, Plug Power had named Chris Hutter as its new CFO. Hutter was supposed to join the Latham, New York-based company this month. But he was unable to take the position due to “personal reasons.” Hutter told the company that it had to remain in North Carolina with his family. Then the fuel cell company turned to Middleton.
Plug Power to report Q3 results tomorrow
Last week, Plug Power announced that it has won yet another deal from Newark Farmers Market, which is expanding its investments in fuel cell technology. Newark Farmers Market will buy another 110 GenDrive units, doubling the number of its fuel cell-powered truck fleet at the Newark site. Plug Power said it will deliver the GenDrive units by the end of this year. The deal also includes GenFuel hydrogen infrastructure and GenCare support.
Plug Power is scheduled to report its Q3 results on Wednesday, Nov.12 before the market opens. The company has already revealed that it shipped 857 GenDrive units during the quarter in North America. That’s a 450% increase from 155 units in the same quarter last year. Analysts on average expect the company to report $24.37 million in revenue with 3 cents a share in losses.
Plug Power shares jumped 1.52% to $5.36 in pre-market trading Tuesday.