IRVINE, Calif., April 6, 2012 /PRNewswire/ -- Today, FlexEnergy Inc (www.flexenergy.com) announced the appointment of Jay Mitchell as Chief Executive Officer. Mitchell most recently served as FlexEnergy's President and Chief Operating Officer. Joseph Z. Perry, who has served as Chief Executive Officer since April 2009, will remain a FlexEnergy advisor and shareholder.
Mitchell commented, "FlexEnergy's breakthrough technology and established core competencies represent an important opportunity for all of our stakeholders. We plan to continue our focused strategy of design, manufacturing and commercialization of products that produce energy with near-zero emissions from a broad range of fuel sources. We have experienced rapid growth in the last few years, emerging from a small startup to a company that is bringing a breakthrough technology to the marketplace, all while we continue to add existing operations to expand our competencies. These achievements are largely due to Joe's leadership, and we look forward to continuing our relationship with him in the future. We also look forward to continued growth as we improve our commercial relationships, continue product development and improve profitability."
Mitchell has a strong operations background in manufacturing environments, and he has a proven record of success with manufacturing process improvement. Specifically, he has served as an executive officer at publicly traded companies that manufactured equipment for the energy industry. Throughout his career he has raised almost $1 billion in capital for companies ranging in size from large public companies to small startups. Recently, Mitchell served as Senior Vice President and Chief Financial Officer at Texas-based T-3 Energy Services, Inc., a publicly traded company and leading global manufacturer of blowout preventers to the oil & gas industry. Under his direction, T-3 expanded product lines, market share and profitability throughout changing market conditions. Prior to his role at T-3, Jay served as Chief Financial Officer of the Latin American Land and E&P services segments of Pride International, Inc. Most recently, Jay helped raised millions of dollars for an energy equipment company where he was a founder.
"This is a planned transition that will allow FlexEnergy to more effectively raise capital for our continued growth, develop new products, and commercialize our technologies," said Perry. "FlexEnergy is an incredible company and I have been honored to serve as CEO these last three years. Jay has a wealth of experience that will compliment, focus and accelerate our growth. Now is a very exciting time for FlexEnergy and I wish Jay continued success in this new role."
For more information on FlexEnergy and its systems, please visit www.flexenergy.com.
About FlexEnergy Inc:
FlexEnergy Inc (www.flexenergy.com) is the developer of the world's cleanest energy platforms, transforming a range of gases into a clean energy source. FlexEnergy Inc manufactures a product line of gas turbines with the lowest emissions and widest fuel flexibility. The energy-efficient Flex Turbine(TM) MT250is the leader in its class with hundreds of thousands of field operating hours burning low-to-high Btu gases. The Flex Powerstation(TM) FP250, with patented thermal oxidizer, is the only turbine that offers both pollution control and energy generation from low-quality methane. FlexEnergy Inc is headquartered in Irvine, Calif. with manufacturing and service facilities in Portsmouth, N.H. and Mocksville, N.C.
For more information, visit www.flexenergy.com.
FlexEnergy Inc investors include SAIL Capital Partners, a cleantech investment firm with unique global insight into technologies, markets and opportunities (www.sailcapital.com), and RNS Capital Partners, a closely held private equity firm with investments in energy services, clean technology and education (http://www.rnscapitalpartners.com/).
SOURCE FlexEnergy Inc.