Noveda Technologies Names Govi Rao as President and Chief Executive Officer to Support Growth and Scale Business

BRANCHBURG, N.J., July 14 /PRNewswire/ -- Noveda Technologies, the leader in web-based real-time energy monitoring systems, today announced that Govi Rao has joined the company as President and Chief Executive Officer to lead Noveda in its next stage of growth. Mr. Rao was most recently Chairman of Lighting Science Group Corporation and a Partner in Pegasus Sustainable Century Merchant Bank. He is joining the management team at Noveda as part of an overall restructuring effort to scale the business.

A passionate champion of sustainability, Mr. Rao brings more than 15 years of global experience across several industries, including specialty chemicals, coatings, building products and lighting. While Chief Executive Officer for Lighting Science Group Corporation, a leading digital lighting solutions company, Mr. Rao was instrumental in establishing the company as an innovative pace setter in the emerging LED lighting space.

Mr. Rao was formerly Vice President and General Manager of the Philips Solid State Lighting business in North America, responsible for pioneering sustainable technologies such as solid state lighting.  Mr. Rao had previously held several leadership roles in Philips Lighting, including Senior Director of its professional lighting business and Vice President of Business Creation and Brand. His prior experience also includes several leadership roles at Specialty Chemical manufacturer Rohm and Haas Company (now part of Dow Chemical) across various businesses and regions. Mr. Rao is a founding member of the advisory board at the Institute for Sustainable Enterprise at Fairleigh Dickinson University.  He also serves on the Board of Directors of the New Jersey Technology Council and the Advisory Board at the Rutgers Chemistry and Chemical Biology department.  

"Govi's leadership abilities and proven success in scaling emerging technologies make him the right candidate to lead Noveda in its growth strategy.  His background, experience and thought leadership will be extremely valuable for Noveda for the next phase of innovation and growth," said Nelson Ferreira, Noveda's chairman of the board.

Commenting on his new role, Mr. Rao said, "The need for us to rapidly change our energy paradigm is growing every day, and I also see a tremendous need to increase transparency in our energy usage in buildings. Noveda offers an excellent platform to jump-start the journey to net-zero and enable the transition to smart-grid technologies. He added, "I am very excited to be joining the Noveda team during this period of growth and scale-up. The timing is just right for the Noveda Platform, especially as we realize the need to increase the awareness of our energy footprint across all global stakeholder groups."  

Noveda recently received $3.3 million dollars in funding from the New Jersey Board of Public Utilities (BPU) under the state's new Clean Energy Manufacturing Fund (CEMF).

About Noveda Technologies:

Founded in 2007, award-winning Noveda Technologies is an innovative leader in real-time energy monitoring and visualization for conventional and renewable energy systems.  The company's hardware, web-based software and services, enable energy optimization in buildings to lower energy costs and reduce carbon footprint. Noveda's solutions are designed to jump-start the journey to net-zero by enabling real time data transparency in buildings and lay the foundation to move to smart grid technologies. The company's diverse client base includes commercial / retail, industrial, government, and educational institutions. For more information, visit www.noveda.com or call 908-534-8855.

SOURCE Noveda Technologies