LUGANO, Switzerland & WESTLAKE VILLAGE, Calif.–(Company WIRE)–Apr 20, 2022–
Energy Vault Holdings, Inc. (NYSE: NRGV, NRGV WS) (“Energy Vault), a chief in sustainable, grid-scale vitality storage answers, these days introduced the appointment of David Hitchcock, interim Main Fiscal Officer, and Kevin Keough, Senior Vice President of Company Development.
“I am pleased to welcome the two David and Kevin to the Strength Vault group. David brings deep public organization CFO, transactional and operational finance expertise as we establish out our world wide money assistance and infrastructure groups across several continents. Kevin has an great monitor report of effective M&A transactions within just tested worth creation frameworks and submit intergration results through his time at Danaher, and will play an critical part in Electricity Vault’s strategic progress initiatives in a really dynamic market place,” reported Robert Piconi, Chairman, Co-Founder and CEO of Electricity Vault.
David Hitchcock Appointed interim Main Monetary Officer
David Hitchcock has been appointed interim Main Economical Officer, replacing Andrea Wuttke, who will be leaving the business following a transitional interval. Hitchcock provides additional than a few decades of intensive operational economical management expertise on a world-wide foundation, which include major funds markets and M&A experience. Hitchcock most just lately served as Chief Financial and Administrative Officer of Syniverse Systems (Syniverse), a major global companies supplier to the cellular telecom market. In the course of Hitchcock’s 8 decades as CFO at Syniverse, he supported them earning the successful changeover from a public organization (NYSE) to non-public organization as a result of the 2011 sale to The Carlyle Team. Syniverse profits enhanced from more than $300 million in 2007 to additional than $900 million in as a result of a mix of organic and natural and inorganic expansion even though keeping robust, steady margins and noticeably increasing its workforce and income foundation exterior of North America.
Prior to Syniverse, Hitchcock held senior finance and operational roles at Lucent Systems, which includes Company Controller and Company Vice President for Lucent Globally Providers, CFO for the World Provide Chain Network organization ($6B+ scope in manufacturing and procurement), and CFO of North The united states for the post-merger combination of Alcatel-Lucent across all organization segments.
Hitchcock now serves as an Business Advisor to Astra Capital Administration and is a Board Member and Chair of the Audit Committee for Communications Technologies Services, LLC, an Astra portfolio business. David gained a BS in Accounting and an MBA from Wake Forest College and is a Accredited General public Accountant.
In his new role, Hitchcock will be liable for all internal and external economic features, the oversight of Vitality Vault’s general public firm accounting and fiscal reporting, as well as all funds marketplaces actions.
“I am thrilled to be a part of Strength Vault at these an enjoyable time in the company’s lifestyle cycle and I appear forward to developing out a sturdy finance functionality. I have been consistently impressed with the depth of the administration staff, the significant technological developments and worth proposition Energy Vault has,” said Mr. Hitchcock. “I am energized to begin performing with all our vital stakeholders, driving the company’s strategic prepare forward and boosting lengthy-time period shareholder value.”
Hitchcock replaces Andrea Wuttke, former Main Money Officer of Power Vault.
Kevin Keough Appointed Senior Vice President of Company Improvement
In addition, Electricity Vault a short while ago appointed Kevin Keough as Senior Vice President of Company Advancement. Kevin provides more than 30 several years of comprehensive strategic, operational and engineering experience that contains owning led company development at Danaher, Tektronix, Netscout, and Inet Technologies across a wide assortment of superior advancement sector and technological innovation segments. At individuals companies, he was responsible for their prolonged-selection advancement procedures and executing accredtive mergers and acquisitions that grew very long term shareholder price.
In his new position at Energy Vault, Keough will be responsible for performing with Mr. Piconi and the global administration team to set the Company’s strategic plan and to generate all of its small business advancement and strategic progress initiatives.
At Danaher, Keough used his know-how of the rigorous Danaher Business enterprise Method, DBS, to successfully deploy much more than $5 billion of cash to accomplish many accretive transactions that expanded addressable market dimensions, exploited white area possibilities, consolidated interesting segments, and included important advancement systems and company belongings. Kevin retains a Bachelors in Electrical Engineering from the Ga Institute of Technologies in Atlanta, Georgia.
Renewable electrical power storage is extremely essential to help the decarbonization of the world. Vitality Vault develops and deploys turnkey sustainable electrical power storage answers created to completely transform the world’s approach to utility-scale electrical power storage in knowing decarbonization when sustaining grid resiliency. The company’s proprietary electricity management system and optimization software package suite is technological innovation agnostic in its skill to orchestrate numerous era and electricity storage sources to aid utilities, impartial power producers and large industrial energy end users to noticeably lower their levelized value of electricity though keeping electrical power excellent and grid trustworthiness.
Mr. Keough commented, “I am psyched with the important opportunity for development by using execution of the strategic program coupled with various strategic expansion initiatives. Electrical power Vault has a suite of assistance choices from which we can enrich our value proposition to our consumers and generate the Company’s mission ahead. I glimpse forward to doing the job with Mr. Piconi and the whole Energy Vault group.”
About Vitality Vault
Electricity Vault develops and deploys turnkey sustainable vitality storage remedies developed to rework the world’s technique to utility-scale electricity storage in knowing decarbonization although sustaining grid resiliency. The company’s proprietary electricity administration method and optimization program suite is technology agnostic in its capability to orchestrate different era and power storage sources to assistance utilities, impartial ability producers and substantial industrial strength buyers to substantially minimize their levelized price tag of electricity even though preserving electricity good quality and grid dependability. Power Vault’s EVx™ gravity-primarily based electrical power storage technique makes use of eco-pleasant supplies with the ability to integrate waste products for helpful re-use. Power Vault is facilitating the change to a round economy while accelerating the cleanse power transition for its clients. For more information, remember to visit: www.energyvault.com
Forward Looking Statements
This press release has forward-looking statements that contain hazards, uncertainties, and assumptions like statements with regards to our potential expansion, deployments and abilities. There are a substantial selection of variables that could induce actual benefits to vary materially from the statements produced in this press release, such as: dangers connected to the rollout of Strength Vault’s business and the timing of anticipated business enterprise milestones, developments and adjustments in the common market, the continuing impact of COVID-19, political, economic, and enterprise disorders, our limited operating background as a general public enterprise, our potential to detect and consummate acquisitions as properly as variables affecting the achievement of these kinds of acquisitions, and our potential to keep skilled staff. More risks and uncertainties that could affect our monetary results are included below the captions “Threat Components” and “Management’s Dialogue and Assessment of Fiscal Affliction and Results of Functions” in our Form 8-K submitted with the Securities and Exchange Fee (the “SEC”) on February 14, 2022, as amended on March 31, 2022, which is offered on our web-site at traders.energyvault.com and on the SEC’s site at www.sec.gov. Extra details will also be set forth in other filings that we make with the SEC from time to time. All forward-looking statements in this press release are primarily based on information offered to us as of the day hereof, and we do not suppose any obligation to update the ahead-searching statements supplied to replicate activities that manifest or situations that exist after the date on which they were created, apart from as demanded by relevant legislation.
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Call: Power Vault
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Keyword: CALIFORNIA EUROPE SWITZERLAND UNITED STATES NORTH The usa
Sector Key word: Substitute Energy Strength Natural environment OTHER Vitality UTILITIES
Resource: Strength Vault Holdings, Inc.
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PUB: 04/20/2022 04:05 PM/DISC: 04/20/2022 04:06 PM
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