SANTA MONICA, Calif., June 6, 2013 /PRNewswire/ -- SolarReserve, a leading U.S. developer of large-scale solar power projects, today announced that Stephen Mullennix, senior vice president of operations at SolarReserve, was selected to join the Aspen Institute Business and Society Program's fifth class of First Mover Fellows. Individuals are chosen based on their successful efforts to expand business while promoting a sustainable economy through the products and services they are developing. Mr. Mullennix will be joined by 19 other Fellows from a wide range of companies including food and beverage (PepsiCo); technology (HP, Google, and LinkedIn); pharmaceuticals (Johnson & Johnson); waste and recycling (Waste Management) and telecommunications (Verizon Foundation).
"We are thrilled and honored that Stephen was selected to participate in the Aspen Institute's prestigious business program," said Kevin Smith, CEO of SolarReserve. "This is not only a major accomplishment for Stephen and SolarReserve but for the entire solar industry as Stephen's work in the Fellowship Program will further advance renewable energy implementation and technology commercialization."
"The accomplished and creative business professionals selected for this program, are redefining business success," says Nancy McGaw, creator and director of the First Movers Fellowship Program. "They are looking over the quarterly horizon and creating long term value for their companies in diverse ways such as lowering operating risks, managing supply chains, meeting the needs of underserved markets and embedding sustainability practices throughout their organizations."
Based on the overarching themes of innovation, leadership, reflection and community, the 12-month Fellowship Program will be a platform for fellows to engage in the growing community of innovators who share a passion about their work and belief in new possibilities for business. Additionally, the Fellowship program serves as an innovation lab where ideas can become reality and successful in practice. By bringing likeminded, prominent individuals together, the program empowers fellows with leadership development opportunities and strategy building for their companies.
"I am honored to be nominated and selected for the First Movers Fellows program. To get a chance to work on a project to continue to commercialize SolarReserve's world leading solar thermal with storage technology alongside a broad set of like-minded Fellows from across multiple industries and companies is a very unique opportunity. I look forward to exchanging ideas and insights with the group," says Stephen Mullennix.
Mullennix leads SolarReserve's efforts in asset management and corporate development. Mullennix has 16 years of experience in the infrastructure and energy industries, where he has held senior positions in numerous successful infrastructure companies in the energy, engineering design services, and wastewater sectors. Mullennix has led asset management activities and overseen projects in the solar, biomass, landfill methane and other renewable energy sectors, and has negotiated numerous critical operational and finance agreements as well as M&A transactions. Throughout his career, Mullennix has worked with technical teams to commercialize breakthrough first-of-its-kind technologies in the infrastructure industry.
Candidates for the fellowship were nominated by their peers and undergo a selection process over several months, with interviews with Aspen staff and former Fellows, and if the candidate makes it to the second round, he or she must complete an application in which they describe the "next stage innovation project" they would undertake if selected to be in the program. The final selection of the class is made by the fellowship Design Team. A list of the Design Team members can found at www.aspeninstitute.org/firstmoversdesignteam.
The First Movers Fellowship was developed by the Aspen Institute Business and Society Program, whose mission is to equip business leaders for the 21st century with a new management paradigm—the vision and knowledge to integrate corporate profitability and social value. For more information about the First Movers Fellowship, or about the 2013 Fellows, visit www.aspeninstitute.org/firstmovers.
SolarReserve, LLC – headquartered in Santa Monica, California – is a developer of large-scale solar energy projects with activities worldwide including more than $1.8 billion of solar projects in construction. SolarReserve has commercialized the world's leading solar thermal energy storage technology utilizing molten salt in a power tower configuration with the construction of its 110 megawatt Crescent Dunes Solar Energy Project. SolarReserve's team of power project professionals have assembled an extensive 5,000 MW worldwide development portfolio of large-scale solar projects featuring its advanced solar thermal technology (also referred to as concentrated solar power or CSP) as well as projects utilizing photovoltaic technology.
SolarReserve's U.S. developed technology is the most advanced solar energy storage technology in the industry. SolarReserve's molten salt power tower design has the capability to deliver clean, reliable electricity at any time, day and night. With designs that can provide from seven hours to 24 hours of full power energy storage, SolarReserve's power plants capture and store the sun's thermal energy and can operate 'on demand' just like a conventional coal, natural gas or nuclear power plant. However, SolarReserve's technology does not release the harmful emissions associated with burning fossil fuels or other hazardous wastes associated with conventional power plant technology, nor does it expose utilities and rate payers to volatile fossil fuel prices over its more than 25 year project life. Providing firm and predictable electricity generated from the sun, an unlimited fuel, SolarReserve's technology also provides grid stability and a solution to intermittent electricity generation, a problem from which most other renewable technologies suffer.
In addition to its market leading solar thermal technology, SolarReserve also designs and develops large-scale photovoltaic power facilities. The company closed financing and started construction on two 75 megawatt photovoltaic projects located in South Africa, with a third 96 megawatt project fully financed and scheduled to begin construction June 2013. The three projects will cost approximately $846 million, making these some of the largest project finance transactions ever completed in South Africa and among the largest renewable energy projects in Africa.
For more information about SolarReserve: www.SolarReserve.com
About The Aspen Institute
The Aspen Institute is an educational and policy studies organization based in Washington, DC. Its mission is to foster leadership based on enduring values and to provide a nonpartisan venue for dealing with critical issues. The Institute is based in Washington, DC; Aspen, Colorado; and on the Wye River on Maryland's Eastern Shore. It also has offices in New York City and an international network of partners. For more information, visit www.aspeninstitute.org.