Art Buckland Hired as New Chief Executive Officer of Sunovia
SARASOTA, Fla., Aug. 30 /PRNewswire-FirstCall/ -- Sunovia™ Energy Technologies, Inc. (OTC Bulletin Board: SUNV) ("Sunovia"), a clean-tech company specializing in LED lighting and solar technologies, announced today that Art Buckland has joined Sunovia's management team as the company's Chief Executive Officer effective September 7, 2010.
Buckland's leadership has resulted in corporate turnarounds, hundreds of millions of dollars of revenue growth, billion-dollar increases in book value, IPOs and LBOs. He has raised $175 million in private and public capital while starting nine companies, completed 36 M&A transactions worth over $1.45 billion, and turned around seven companies. He has 24 years of experience serving on public company boards. Buckland has led profitable growth and innovation in energy and clean tech for many years. He guided some of the first developments of Smart Meters in the 1980s, using his semiconductor background working with a diverse array of utility companies and municipalities. He received the "Entrepreneur of the Year" award (from NASDAQ, Ernst & Young, Sprint, USA Today, and others) for his work with CP Clare, where he grew a small $5 million failing semiconductor company to $147 million of annual revenue in three years. The IPO at CP Clare resulted in a 122% IRR for investors. Recently, in his two years at Soliant Energy http://www.soliantenergy.com, Buckland pioneered the development of a strategic vision for the next generation of solar panels that could generate distributed electricity at utility costs without government subsidies.
Buckland brings broad experience in operations and governance to Sunovia. His industry experience spans renewable/solar and traditional energy companies (Schlumberger, Enertec, Solartron and Soliant), advanced semiconductors (CP Clare, Texas Instruments, Engim, and Fairchild), supply chain and value-added distribution (Lex, Indivers, and Richardson Electronics), and capital equipment (Teradyne, Fairchild Test, Applicon, and FourPi). Buckland has held CEO, CFO and Board Chairman roles in startups as well as NASDAQ, NYSE and LSE companies. He speaks five languages; is an avid sportsman, and has been married for 32 years.
Buckland stated, "I am excited to be joining the Sunovia team as Chief Executive Officer. I have spent my career developing and growing companies within the semiconductor and related systems markets, and the incredible potential of Sunovia's proprietary technologies and products is very clear. The opportunity to lead a company with this much potential while uniquely operating in this large and dynamic clean-tech energy space and poised for rapid growth, is an ideal fit for my talents and experience. I expect to grow Sunovia efficiently and effectively to realize the tremendous value that has already been created in EvoLucia, and look forward to the challenge of realizing the value in our solar initiative soon after that. I am truly excited to be joining such a talented team, and look forward to collaborating with our great group of investors as we work to grow and achieve our mutual goals."
Carl Smith, continuing Chairman of the Board and outgoing CEO of Sunovia, stated, "We retained the services of C-T Partners, a world renowned executive search firm, and interviewed a number of qualified and highly talented candidates. I am pleased to announce that Art was our top candidate, and that he was equally enthusiastic to accept the opportunity to lead Sunovia."
Smith continued, "Art brings the executive pedigree and Wall Street credibility that I feel have been missing from the company. His experience and reputation with both institutional investors and large banks will be critical to the company as we enter a phase of rapid growth. I look forward to the opportunity to learn from Art as we work together to push Sunovia toward profitability. I will continue to work as Chairman of the Board of Sunovia, and remain as committed as ever to the success of our exciting company."
About Sunovia Energy Technologies, Inc.
Sunovia Energy Technologies is a Sarasota, Florida based clean-tech company that develops, manufactures and markets cost-effective, high performance products within the LED lighting and solar markets that reduce carbon emissions, promote national security and preserve the environment.
Sunovia's LED lighting products have the highest Energy Star® Fitted Target Efficiency (FTE) ratings in the rapidly growing LED industry, and are among the most cost and energy-efficient in the world. The products are marketed under the brand name EvoLucia®.
More information about Sunovia is available in Sunovia's Securities and Exchange filings at www.sec.gov, or at the company's Web sites, www.sunoviaenergy.com and www.evolucialighting.com.
The Sunovia™ logo is a registered service mark of Sunovia Energy Technologies, Inc. in the United States and/or other countries. Sunovia Energy products and services and EvoLucia® products and services are provided by Sunovia Energy Technologies, Inc.
Forward-Looking Statement
Some of the statements made by Sunovia in this press release are forward-looking in nature. Actual results may differ materially from those projected in forward-looking statements. Sunovia believes that its primary risk factors include, but are not limited to: development and maintenance of strategic acquisitions; domestic and international acceptance of our product lines; defending our intellectual property and proprietary rights; development of new products and services that meet customer demands and generate acceptable margins; successfully completing commercial testing of new technologies and systems to support new products and services; and attracting and retaining qualified management and other personnel. Additional information concerning these and other important factors can be found within Sunovia's filings with the Securities and Exchange Commission. Statements in this press release should be evaluated in light of these important factors.
SOURCE Sunovia Energy Technologies, Inc.
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