ALLENTOWN, Pa.--(BUSINESS WIRE)--International Battery, Inc. (www.internationalbattery.com), a U.S. developer and manufacturer of large-format lithium-ion batteries for energy storage applications in stationary, transportation and military markets, today announces:
- Mark P. Mills, the Company’s current Chairman, will assume the positions of Chief Executive Officer and Vice Chairman, effective September 1, 2011;
- Dr. Ake Almgren, the Company’s current Chief Executive Officer and Vice Chairman, will step down as CEO and become Chairman and consultant to International Battery also effective September 1, 2011; and
- Thomas Puza, formerly of Ener1, has joined International Battery as Chief Operating Officer.
- Joseph Jacobs, President of Wexford Capital LP, will be joining the Board.
“Ake’s contribution to the Company has been phenomenal. He has taken International Battery from a grand technology idea to a proven game-changing green manufacturing operation in the heart of industrial America, ready to serve the emerging smart grid and large-energy storage markets,” said Mark Mills, the Company’s current Chairman. “Ake has met and exceeded our goals, and we look forward to his continued guidance and support.” In addition to his Board role, Dr. Almgren will assist in the CEO transition and continue for the balance of 2011 as a full-time consultant to the company, and during 2012 as an on-going strategic consultant.
“I am looking forward to continue working with Mark in taking International Battery to the next level of success,” said Dr. Almgren. “Mark’s vision and support have been invaluable to the Company, and his deep background in both the Company and our industry will ensure continuity and promise an exciting future for International Battery. We have a great team. Using our unique water-based manufacturing process and ultra large-format lithium-ion cells enables us to provide customers with superior battery system solutions.”
Thomas Puza, formerly Director of Engineering for Ener1, joins the Company as Chief Operating Officer responsible for all aspects of International Battery’s manufacturing and engineering operations. “It is a real pleasure to have someone of Tom’s deep manufacturing and engineering background, not least in electronics and controls, join the Company,” said Dr. Almgren.
Joseph Jacobs, President of Wexford Capital LP, the majority investor in International Battery, will be joining the Board. “The company and the Board will benefit greatly from the enormous business domain knowledge that Joe brings to a Board. I’ve known Joe for years and there are few businessmen with his capabilities and track record,” said Mark Mills. “We are very pleased with International Battery’s achievements. It is extraordinarily encouraging to see the kind of progress the Company has made, and to have the wind at our backs in terms of the macro trends and the markets,” said Joseph Jacobs.
About Mark P. Mills
Mr. Mills is President of Digital Power Capital LLC, an affiliate of Wexford Capital LP. He currently serves on the boards of Power Analytics, Inc. and other Digital Power Capital portfolio companies. He served as interim CEO of IB in late 2008 and early 2009. Previously, Mr. Mills co-founded and served as Chairman and Chief Technology Officer for ICx Technologies, Inc., which underwent an IPO in 2007 and was subsequently sold to FLIR Systems in late 2010. He serves on the Advisory Board of Northwestern University’s Engineering School and writes the Energy Intelligence column for Forbes. He has also served as a technology advisor for Bank of America Securities Inc. and was co-author of the Huber-Mills Digital Power Report, published by Forbes and the Gilder Group. Mr. Mills served as a staff consultant to The White House Science Office under President Reagan and holds a BSc, Honours, in Physics from Queen’s University, Canada.
About Dr. Ake Almgren
Dr. Almgren has served as the CEO of International Battery since early 2009. He spent 26 years with ABB Ltd., including roles as worldwide Business Area Manager for Distribution Transformers (managing 36 plants in 27 countries), President of ABB Power T&D Company, President of ABB Power Distribution, and President of ABB Power Systems. From 1998 to 2003, Dr. Almgren was President and CEO of Capstone Turbine Corporation. He currently serves on the boards of PJM Interconnect LLC and Active Power. Dr. Almgren holds a Ph.D. in Engineering from Linkopings Tekniska Hogskola in Sweden and a Masters of Mechanical Engineering from the Royal Institute of Technology in Stockholm, Sweden.
About Thomas Puza
Mr. Puza has nearly 25 years of manufacturing experience in the automotive, electronics, and communications areas. Prior to joining International Battery, Mr. Puza was Director of Engineering for Ener1 where he led engineering and commercial interfaces for customer development and programs involving lithium-ion cells and battery systems. Mr. Puza has also served as a Managing Director at Delphi, and as a Director, Asia/Pacific Engineering, for Delco Electronics. Mr. Puza holds a MBA from University of Michigan and BS Mechanical Engineering from Kettering University.
About Joseph Jacobs
Mr. Jacobs co-founded Wexford Capital in 1994 and serves as its President. He has served on the boards and creditors’ committees of a number of public and private companies in which Wexford has held investments. From 1982-94, Mr. Jacobs was employed by Bear Stearns & Co. where he attained the position of Senior Managing Director. Mr. Jacobs holds an MBA from Harvard Business School and a BS in economics from the Wharton School of the University of Pennsylvania.
About International Battery
Headquartered in Allentown, PA, International Battery, Inc. (www.internationalbattery.com) is a U.S. manufacturer, designer, and developer of its HyperClassTM large-format prismatic lithium-ion rechargeable cells and batteries for use in a wide range of transportation, industrial, electric utility, smart grid and military applications, employing its uniquely environmentally friendly HydroMaxTM manufacturing process.