| Date: Dec 05, 2017 |
| Pu Neng is pleased to announce that the company has appointed John Wang as Chief Executive Officer, effective immediately. Mr. Wang is a seasoned executive in the technology and management consulting sectors. He has held various leadership positions with IBM, Deloitte Consulting and BearingPoint, all of which provided services to Chinese state-owned enterprises in the telecommunications, energy and manufacturing industries. He was most recently Vice President at Dell-EMC and General Manager for Dell Service. During his seven year tenure with Dell, he managed at both the local and global levels, and was responsible for over US$700 million of annual revenue, managing more than 4,000 service professionals.
Robert Friedland, Chairman of Pu Neng, commented, “China has set aggressive growth targets for the renewable energy sector to dramatically reduce air emissions. To integrate renewables into the grid, China recognizes the need for energy storage and has just announced a new policy for storage that includes 100-megawatt-class vanadium flow battery projects as part of the solution. This presents a huge growth opportunity for Pu Neng and John is the right person to scale-up the company to meet this demand.” Mr. Wang joins Pu Neng following the company’s recently announced start of construction of a 12-megawatt-hour vanadium redox battery (VRB®) system in Hubei, China. “The China and global market for energy storage is rapidly expanding, with demand poised to double every two years between now and 2030,” Mr. Wang commented. “Pu Neng has the most advanced, safest and reliable vanadium flow battery technology in the world, and I am delighted to join the team. With an almost unlimited number of charge and discharge cycles, Pu Neng’s systems are the most practical and economical solution for integrating large-scale solar and wind generation onto utility grids.” Eric Finlayson, President of Pu Neng’s majority shareholder High Power Exploration, who has been serving as interim CEO of Pu Neng, will remain on Pu Neng’s Board of Directors and continue to support efforts to source low-cost vanadium supply. Mr. Finlayson noted, “John’s expertise in just-in-time manufacturing in China will help us scale manufacturing operations efficiently to meet demand from our growing sales pipeline in China, Australia and in the global mining sector.” |
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