NEWPORT BEACH, Calif. and TORONTO, April 15, 2014 /PRNewswire/ -- REGEN Energy is pleased to announce the appointment of Robert M. Chiste as Interim President and Chief Executive Officer. Mr. Chiste possesses nearly 30 years of experience in the energy industry, and has served as REGEN's Executive Chairman since March 2012. In 2001, Mr. Chiste was the founding CEO of Comverge, Inc., where he led the company's highly successful Initial Public Offering in 2007. Prior to his departure in 2009, he had increased the company's market valuation to over $500 million.
"It is an exciting time for REGEN as we gain significant traction in our growth profile," stated Mr. Chiste. "Our Swarm Energy Management™technology is proving to be an advanced Demand Management industry breakthrough, enabling significant savings and energy management simplification for our utility and commercial and industrial customers."
Mr. Chiste's appointment follows the resignation of Mr. Tim Angus on March 20, 2014. Mr. Angus resigned as President and CEO and as a member of the Board of Directors of REGEN Energy Inc. in order to pursue new endeavors. The REGEN Board of Directors will launch a search for a successor.
Mr. Chiste continued, "The company thanks Mr. Angus for his contributions over the last five years, and wishes him continued success in his future endeavors. Mr. Angus remains a huge supporter of REGEN and its brilliant Swarm Energy Management platform, and he looks forward to witnessing the sustained expansion and success of the organization. REGEN is led by a talented team of executives, and continues its commitment to rapid growth and high standards of operations."
About REGEN Energy
REGEN is revolutionizing the way building owners manage their electrical demand through its patented wireless smart grid technology platform, Swarm Energy Management™. Swarm generates dramatic demand management and automated demand response electrical savings opportunities. It allows small to mid-sized commercial, industrial and institutional buildings with little-to-no building automation to finally participate in the rapidly growing automated demand response and dynamic load management markets. REGEN's major offices in North America are located in Toronto, Canada and Newport Beach, California.