15.01.03

15.1.2003: Meldung: Former ABB Executive Joins Active Power

Active Power, Inc. (NASDAQ:ACPW - News) announced today that Sriram Sivaram has joined its management team as Vice President of Business Development. Mr. Sivaram joins Active Power following roles as a senior executive at Catalyst Power, a subsidiary of ABB, and American Power Conversion Company (APC).

Mr. Sivaram"s initial focus will be on the creation of an extended runtime product line and the formation of strategic relationships in connection with this new line. He will also assist in expanding distribution channels for current products outside of North America. "Sriram has an excellent grasp of current market needs within the power quality and reliability industry. He also has a proven track record of quickly ramping up new businesses within existing organizations," said Joe Pinkerton, Chairman and CEO of Active Power.

Prior to joining Active Power, Mr. Sivaram was the President of Catalyst Power, a distributed generation subsidiary of ABB. Prior to that, he held various leadership positions at APC, a $1.4 billion manufacturer of UPS systems. While Director of Business Development for APC"s Consumer Networks Solutions, Mr. Sivaram increased sales of desktop UPS systems by approximately $100 million in less than two years while also improving profitability. He also served as Director of New Products, where he developed and implemented a new product strategy for APC"s three-phase UPS business. As Country General Manager, Mr. Sivaram also established a successful APC business in India from the ground up. Mr. Sivaram holds a BS from the Indian Institute of Technology in Madras, India, and MS and MBA from Cornell University in Ithaca, New York.

ABOUT ACTIVE POWER:

Active Power, Inc. (www.activepower.com) designs, manufactures and markets battery-free power quality products that provide the consistent, reliable electric power required by today"s digital economy. An ISO 9001- certified company, Active Power is the first to commercialize a flywheel energy storage system, CleanSource® that provides a highly reliable, low-cost and nontoxic replacement for lead-acid batteries used in conventional power quality installations.

Safe Harbor Provision

Any forward looking statements and all other statements that may be made in this news release that are not historical facts are subject to a number of risks and uncertainties, and actual results may differ materially. Specific risks include delays in new product development, product performance and quality issues and the acceptance of our current and new products by the power quality market. Please refer to Active Power filings with the Securities and Exchange Commission for more information on the risk factors that could cause actual results to differ.

Active Power and CleanSource are registered trademarks of Active Power, Inc.



Contact:

Active Power Inc., Austin
Corporate Communications:
Jennifer Z. Lozier, 512/744-9461
jlozier@activepower.com
Nach oben scrollen
ECOreporter Journalistenpreise
Anmelden
x