LUGANO, Switzerland & WESTLAKE VILLAGE, Calif.–(Business enterprise WIRE)–Apr 20, 2022–
Vitality Vault Holdings, Inc. (NYSE: NRGV, NRGV WS) (“Energy Vault), a chief in sustainable, grid-scale electrical power storage options, right now declared the appointment of David Hitchcock, interim Chief Money Officer, and Kevin Keough, Senior Vice President of Corporate Enhancement.
“I am happy to welcome both of those David and Kevin to the Electricity Vault staff. David delivers deep community enterprise CFO, transactional and operational finance experience as we establish out our worldwide economic guidance and infrastructure groups across numerous continents. Kevin has an great track file of profitable M&A transactions inside demonstrated worth creation frameworks and put up intergration success during his time at Danaher, and will participate in an crucial function in Vitality Vault’s strategic development initiatives in a really dynamic current market,” explained Robert Piconi, Chairman, Co-Founder and CEO of Electrical power Vault.
David Hitchcock Appointed interim Main Economical Officer
David Hitchcock has been appointed interim Main Economic Officer, replacing Andrea Wuttke, who will be leaving the business soon after a transitional interval. Hitchcock delivers a lot more than a few decades of intensive operational financial leadership expertise on a world wide basis, such as considerable cash markets and M&A abilities. Hitchcock most not long ago served as Main Fiscal and Administrative Officer of Syniverse Systems (Syniverse), a leading world-wide services company to the cell telecom field. All through Hitchcock’s 8 yrs as CFO at Syniverse, he supported them generating the effective changeover from a public corporation (NYSE) to personal company via the 2011 sale to The Carlyle Group. Syniverse profits increased from more than $300 million in 2007 to extra than $900 million in through a blend of organic and natural and inorganic advancement while keeping sturdy, constant margins and significantly expanding its workforce and income base outside of North The us.
Prior to Syniverse, Hitchcock held senior finance and operational roles at Lucent Systems, which includes Company Controller and Organization Vice President for Lucent Throughout the world Providers, CFO for the World Source Chain Network corporation ($6B+ scope in producing and procurement), and CFO of North The us for the post-merger mixture of Alcatel-Lucent across all company segments.
Hitchcock currently serves as an Business Advisor to Astra Cash Administration and is a Board Member and Chair of the Audit Committee for Communications Systems Expert services, LLC, an Astra portfolio enterprise. David acquired a BS in Accounting and an MBA from Wake Forest College and is a Certified Community Accountant.
In his new job, Hitchcock will be dependable for all interior and exterior monetary functions, the oversight of Electricity Vault’s general public corporation accounting and economic reporting, as perfectly as all cash marketplaces pursuits.
“I am thrilled to join Electricity Vault at these types of an remarkable time in the company’s lifetime cycle and I appear forward to building out a robust finance operate. I have been continuously impressed with the depth of the administration team, the important technological innovations and price proposition Strength Vault has,” mentioned Mr. Hitchcock. “I am energized to get started functioning with all our essential stakeholders, driving the company’s strategic prepare ahead and boosting lengthy-term shareholder price.”
Hitchcock replaces Andrea Wuttke, previous Main Economical Officer of Electricity Vault.
Kevin Keough Appointed Senior Vice President of Company Enhancement
In addition, Energy Vault lately appointed Kevin Keough as Senior Vice President of Corporate Enhancement. Kevin delivers far more than 30 years of extensive strategic, operational and engineering abilities that features owning led company development at Danaher, Tektronix, Netscout, and Inet Technologies across a wide vary of significant progress market and engineering segments. At these companies, he was accountable for their long-array development procedures and executing accredtive mergers and acquisitions that grew prolonged expression shareholder price.
In his new job at Electricity Vault, Keough will be liable for working with Mr. Piconi and the world-wide management team to set the Company’s strategic program and to push all of its enterprise progress and strategic progress initiatives.
At Danaher, Keough utilized his awareness of the rigorous Danaher Business enterprise System, DBS, to efficiently deploy much more than $5 billion of money to reach several accretive transactions that expanded addressable marketplace sizes, exploited white area alternatives, consolidated attractive segments, and added critical advancement technologies and business assets. Kevin retains a Bachelors in Electrical Engineering from the Georgia Institute of Technological know-how in Atlanta, Ga.
Renewable electrical power storage is incredibly vital to help the decarbonization of the earth. Electrical power Vault develops and deploys turnkey sustainable power storage answers created to completely transform the world’s strategy to utility-scale electricity storage in recognizing decarbonization although retaining grid resiliency. The company’s proprietary power management technique and optimization application suite is technologies agnostic in its capacity to orchestrate numerous generation and strength storage sources to aid utilities, impartial electricity producers and substantial industrial vitality end users to significantly cut down their levelized price of energy while protecting energy high-quality and grid trustworthiness.
Mr. Keough commented, “I am fired up with the important chance for development by using execution of the strategic plan coupled with several strategic advancement initiatives. Vitality Vault has a suite of services offerings from which we can greatly enhance our price proposition to our customers and generate the Company’s mission ahead. I search ahead to doing the job with Mr. Piconi and the full Energy Vault team.”
About Electricity Vault
Vitality Vault develops and deploys turnkey sustainable energy storage alternatives made to change the world’s tactic to utility-scale strength storage in noticing decarbonization whilst protecting grid resiliency. The company’s proprietary strength administration procedure and optimization software suite is know-how agnostic in its capability to orchestrate numerous technology and vitality storage methods to enable utilities, independent electricity producers and big industrial energy buyers to noticeably cut down their levelized price of electricity though retaining ability quality and grid trustworthiness. Energy Vault’s EVx™ gravity-based strength storage program utilizes eco-welcoming materials with the skill to combine squander supplies for effective re-use. Strength Vault is facilitating the change to a circular economy when accelerating the clean up energy transition for its buyers. For more information and facts, remember to stop by: www.energyvault.com
Ahead Searching Statements
This press release includes forward-seeking statements that contain pitfalls, uncertainties, and assumptions including statements concerning our long term growth, deployments and capabilities. There are a considerable selection of aspects that could trigger genuine final results to vary materially from the statements built in this press release, together with: hazards similar to the rollout of Vitality Vault’s company and the timing of envisioned enterprise milestones, developments and improvements in the standard industry, the continuing influence of COVID-19, political, financial, and business enterprise conditions, our restricted functioning record as a community firm, our capability to identify and consummate acquisitions as well as things influencing the good results of these types of acquisitions, and our ability to keep capable staff. Supplemental dangers and uncertainties that could have an effect on our financial benefits are involved below the captions “Threat Components” and “Management’s Discussion and Investigation of Economic Ailment and Success of Operations” in our Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on February 14, 2022, as amended on March 31, 2022, which is accessible on our website at buyers.energyvault.com and on the SEC’s web page at www.sec.gov. Additional information will also be established forth in other filings that we make with the SEC from time to time. All ahead-seeking statements in this press release are based mostly on facts offered to us as of the date hereof, and we do not assume any obligation to update the ahead-wanting statements presented to reflect functions that happen or circumstances that exist after the date on which they were being created, besides as expected by applicable regulation.
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Contact: Electricity Vault
Keyword: CALIFORNIA EUROPE SWITZERLAND UNITED STATES NORTH The usa
Business Key word: Different Electricity Electrical power Environment OTHER Vitality UTILITIES
Supply: Energy 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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