Energy Technology Veteran Takes the Helm at Ioxus to Steer Company's Growth and Further Develop its Leadership Position in Growing Ultracapacitor Market
ONEONTA, N.Y.--(BUSINESS WIRE)--Ioxus, Inc., the only U.S. manufacturer of innovative ultracapacitor technologies for transportation, alternative energy and military markets, today announced the appointment of Mark McGough as president and chief executive officer. McGough joins Ioxus to help the company in its ongoing mission to become a high-volume manufacturer, developer and provider of ultracapacitor-based energy storage and power delivery solutions.
McGough formerly served as CEO of Pentadyne Power Corporation and Envinta Corporation and Energetics PLC and was a division president and general manager at Maxwell Technologies, where he launched a new business unit focused on ultracapacitors. Additionally, The World Economic Forum named Pentadyne under McGough’s leadership as a technology pioneer, and Red Herring Magazine identified him as a “shooting star.” During nearly three decades of leadership with technology and energy companies, McGough has established a long record of success in commercializing new technologies, growing revenue and initiating high-volume production.
“Ioxus is patenting game-changing ultracapacitor technology; it is this technology and the outstanding management team that brought me here. Ultracapacitors as a class are finally seeing broader adoption in the market, and now Ioxus is poised to offer a next generation of this technology that is many times more powerful and energy dense than previous offerings,” said McGough. “I look forward to working with this talented team to introduce ultracapacitor designs that rival batteries in energy density but with far better charge rates and cycle life.”
In addition to his extensive experience in the energy technology industry, McGough brings specific familiarity with the ultracapacitor market to his new position. While at Maxwell Technologies, McGough moved that company’s ultracapacitor offering from a lab prototype to a full-fledged business unit, sparking significant product revenue.
“Mark McGough understands how to take a business to the next level of profitability by developing channels and commercializing promising new energy storage technologies,” said Bill Lese, a managing partner of Braemar Energy Ventures and a member of Ioxus’s board of directors. “He has the experience and the enthusiasm Ioxus needs to reach its potential as a market leader and innovator, and we look forward to his leadership.”
McGough replaces acting CEO Michael Pentaris, who will return to his role as president and CEO of Custom Electronics, Inc. (CEI), Ioxus’ affiliate company, and will remain on the Ioxus board of directors. Under McGough, Ioxus Chief Strategy Officer Robert Jaworski will assume the new role of chief financial officer.
Additional Ioxus Information:
About Ioxus, Inc.
Ioxus is the only company that develops, manufactures and commercializes innovative ultracapacitor technologies entirely in the United States. The company provides cost-effective, green energy solutions for the military, transportation and alternative energy markets. The Ioxus family of ultracapacitors is uniquely optimized for high performance with low resistance, ideal for delivering high power bursts for acceleration, energy recapture, peak load shaving and high power applications. Ioxus was established by its affiliate company, Custom Electronics, Inc., which has supplied commercial and military clients with high-reliability capacitors and integrated electronic assemblies since 1964. Ioxus is headquartered in Oneonta, N.Y. For more information, visit www.ioxus.com.
Media Contact:
Melissa Cohen
Metis Communications
617-236-0500
Prestigious recognition of Ioxus’s accomplishments in the ultracapacitor market highlights company’s module-based approach and speed to market
ONEONTA, N.Y.--(BUSINESS WIRE)--Ioxus, Inc., the only U.S. manufacturer of innovative ultracapacitor technologies for military, transportation and alternative energy markets, today announced that Frost & Sullivan has chosen Ioxus for the 2010 North American Ultracapacitor Market Enabling Technology of the Year Award. In selecting Ioxus for this honor, Frost & Sullivan analysts considered several performance benchmarks, including the ability to enable creation of new products and applications and to enhance current products, as well as Ioxus’ potential for market acceptance and the breadth of access to the technology.
“In applications such as hybrid electric buses, wind turbine pitch control systems or grid support systems, energy storage devices are subjected to a very high number of charge/discharge cycles,” said Frost & Sullivan Research Analyst Anu Cherian. “Ultracapacitors are capable of delivering one thousand times or more of charge/discharge cycles than that of batteries, making them ideal devices for high-cycle applications, either alone or in combinations with batteries. Ioxus is not the oldest company in this market, but it is the first to demonstrate the foresight needed to offer an out-of-the-box solution that optimizes space, as well as lowers the total cost of ownership for the end user.”
While batteries are inherently functional energy storage devices, they can be charged/discharged relatively slowly. Ultracapacitors are power delivery devices that are capable of very high charge and discharge rates. Therefore, Ioxus’ ability to meet the needs of a wide range of applications with custom-built or module-based ultracapacitors that augment battery usage was among the strengths Frost & Sullivan cited in detailing its award selection process. Ioxus’ ultracapacitor was also noted as an enabling technology to the growing set of existing and new energy storage applications.
“One of the key differences we saw between Ioxus and its competitors is Ioxus’ control of its manufacturing and intellectual property,” said Cherian, when referring to Ioxus’ formulation and building of its own electrodes. “Based on a keen competitive position in the market, coupled with an exciting and innovative new supplement to the batteries market, Ioxus is the worthiest recipient of the 2010 Frost & Sullivan Enabling Technology of the Year Award.”
"Ioxus is honored to have been named for this award,” said Harvey Wilkinson, Ioxus’ vice president of business development. “We are dedicated to producing ultracapacitors that support cost-effective, energy solutions for all the markets we serve, and we see this accomplishment as affirmation of our module- and custom-based approaches to delivering these products to our customers.”
Additional Ioxus Information:
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation and implementation of powerful growth strategies. Frost & Sullivan leverages almost 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com.
About Ioxus, Inc.
Ioxus is the only company that develops, manufactures and commercializes innovative ultracapacitor technologies entirely in the United States. The company provides cost-effective, green energy solutions for the military, transportation and alternative energy markets. The Ioxus family of ultracapacitors is uniquely optimized for high performance with low resistance, ideal for delivering high power bursts for acceleration, energy recapture, peak load shaving and high power applications. Ioxus was established by the parent company, Custom Electronics, Inc., which has supplied commercial and military clients with high reliability capacitors and integrated electronic assemblies since 1964. Ioxus is headquartered in Oneonta, N.Y. For more information, visit www.ioxus.com.
Industry’s Only U.S. Ultracapacitor Manufacturer Adds Former Maxwell Technologies Executive to Management Team ONEONTA, N.Y.--(BUSINESS WIRE)--Ioxus, Inc., the only U.S. manufacturer of innovative ultracapacitor technologies for military, transportation and alternative energy markets, today announced the appointment of energy storage veteran Brendan Andrews as vice president of marketing and sales. In addition, Ioxus hired former Maxwell Technologies’ Sales Manager Michael Leiber as the regional director of sales. Both Andrews and Leiber bring proven success in the ultracapacitor market, providing a consistent increase in revenue and customers to exceed company business goals. “This accomplishment, combined with Andrews’ approach to the market and expertise in building sales distribution channels, and Leiber’s extensive experience in building and establishing relationships, will help drive rapid revenue and customer growth for Ioxus.”
Andrews is responsible for the leadership and coordination of Ioxus’ sales and marketing functions and for educating the global market regarding existing and future ultracapacitor technologies. Previously, as Maxwell Technologies’ director of sales and marketing Americas, Andrews was responsible for all sales and marketing activities in North and South America, where he helped lead the company to more than $40 million in revenue, while growing revenue in the Americas by more than 300 percent. Additionally, Andrews increased Maxwell Technologies’ customer base to include new markets such as solid-state drives (SSD) and LED lighting applications. Prior to Maxwell Technologies, Andrews also held management positions with Arcotronics Group and KEMET Electronics Corporation. “Ioxus’ potential is unprecedented, and its commitment to driving the concept of higher power, higher density ultracapacitors and hybrid ultracapacitors will unleash an industry standard for hybrid-diesel, fuel cell or battery-based vehicles and other energy storage applications,” said Andrews. “This vision, along with outstanding technology, is what draws market adoption of products from companies like Ioxus.” Additionally, Leiber will help expand Ioxus’ sales and marketing focus globally, including the growth of the global distributor network. At Maxwell Technologies, Leiber helped successfully generate interest and increase the company’s current and potential customer base. Prior to Maxwell Technologies, Leiber held positions at United Chemi-con and BC Components. “Both Andrews and Leiber contributed to the success of the market’s current ultracapacitor leader, Maxwell Technologies,” said Michael Pentaris, CEO of Ioxus. “This accomplishment, combined with Andrews’ approach to the market and expertise in building sales distribution channels, and Leiber’s extensive experience in building and establishing relationships, will help drive rapid revenue and customer growth for Ioxus.” Additional Ioxus Information: About Ioxus, Inc. Ioxus is the only company that develops, manufactures and commercializes innovative ultracapacitor technologies entirely in the United States. The company provides cost-effective, green energy solutions for the military, transportation and alternative energy markets. The Ioxus family of ultracapacitors is uniquely optimized for high performance with low resistance, ideal for delivering high power bursts for acceleration, energy recapture, peak load shaving and high power applications. Ioxus was established by the parent company, Custom Electronics, Inc., which has supplied commercial and military clients with high reliability capacitors and integrated electronic assemblies since 1964. Ioxus is headquartered in Oneonta, N.Y. For more information, visit www.ioxus.com. Contacts:
Metis Communications
Melissa Cohen
melissa@metiscomm.com
617-236-0500
Will Apply Deep Industry Experience to Expansion of Ioxus’ Global Sales, Marketing and Business Development Efforts ONEONTA, N.Y.--(BUSINESS WIRE)--Ioxus, Inc., developers and manufacturers of innovative ultracapacitor technologies for a wide range of energy storage markets, today announced that Harvey Wilkinson begin_of_the_skype_highlighting end_of_the_skype_highlighting, who has more than two decades of experience in the energy and technology markets, has joined the company as vice president of business development. In his new role, Wilkinson will be responsible for expanding sales and marketing programs worldwide and building new business development initiatives that are consistent with the company’s overall strategy. “We welcome Harvey to the company and look forward to his leadership in sales, marketing and business development for further company expansion.”
Prior to Ioxus, Wilkinson was the director of embedded systems sales and a product manager at A123 Systems, one of the world’s leading suppliers of lithium ion batteries. Wilkinson was instrumental in developing that company’s products for the global utility market and also managed the rollout of the first large-scale lithium ion battery system for utility grid applications. His experience there - as well as in management, marketing and sales at other energy technology companies including AVESTOR and Beacon Power Corporation - uniquely prepares him to lead expansion efforts at Ioxus. Wilkinson is a member of the Institute of Electrical and Electronics Engineers (IEEE) and earned his master of science degree in business administration from Boston University. He also holds a bachelor of science degree in computer science and a bachelor of arts degree in history, both from Cornell University. “All signs point toward enormous growth in the energy storage markets in the coming years, and Ioxus is leading the way with products that are both environmentally safe and technologically superior to competitors’ offerings,” said Wilkinson. “Ultracapacitors are an enabling technology in transportation, alternative energy and military applications – all target markets for Ioxus. The company is making great strides within those industries that will contribute to its ongoing success worldwide.” “Harvey brings a depth of knowledge and experience to Ioxus that is absolutely essential as we continue to develop, manufacture and sell ultracapacitors that offer higher power density and increased energy capabilities beyond any other ultracapacitor technology available on the market,” said Michael Pentaris begin_of_the_skype_highlighting end_of_the_skype_highlighting, CEO of Ioxus. “We welcome Harvey to the company and look forward to his leadership in sales, marketing and business development for further company expansion.” Additional Ioxus information: About Ioxus, Inc. Ioxus is the only company that develops, manufactures and commercializes innovative ultracapacitor technologies entirely in the United States. The company provides cost-effective, green energy solutions for the military, transportation and alternative energy markets. The Ioxus family of ultracapacitors is uniquely optimized for high performance with low resistance, ideal for delivering high power bursts for acceleration, energy recapture, peak load shaving and high power applications. Ioxus was established by the parent company, Custom Electronics, Inc., which has supplied commercial and military clients with high reliability capacitors and integrated electronic assemblies since 1964. Ioxus is headquartered in Oneonta, N.Y. For more information, visit www.ioxus.com.
Contacts:
Metis Communications
Melissa Cohen begin_of_the_skype_highlighting end_of_the_skype_highlighting, begin_of_the_skype_highlighting 617-236-0500 end_of_the_skype_highlighting
melissa@metiscomm.com617-236-0500
Large Cell Product Line Provides Smaller-Sized Solution With Lower Cost for Overall System Design in Transportation and UtilitiesONEONTA, NY--(Marketwire - January 25, 2010) - Ioxus, Inc., developers and manufacturers of innovative ultracapacitor technologies for a wide range of energy storage markets, today launched a new family of large cell prismatic electrochemical double layer capacitors (EDLC) for transportation and utility applications that are lower in cost for the overall system design. The 1,000-, 3,000- and 5,000-Farad (F) ultracapacitors are smaller in size with increased energy and power density compared to products of other industry players.
A wide range of high-power applications, such as transportation, electric utility, material handling, industrial bridge power and renewable energy generation require low-cost and long-operating-life energy storage systems for optimal performance. Ioxus' high-performance, environmentally safe products can quickly store and deliver energy in these highly demanding applications, providing a high-cycle life and a wide temperature operating range from -40 to +70 degrees Celsius.
Ioxus EDLCs can be used as sole energy storage devices or can be combined with other types of energy storage devices, such as batteries or fuel cells, to meet the userpower demand requirements. In this combination, ultracapacitors expand thesystem's charge and discharge capabilities into shorter response times,extend the life of other, lower-power elements and open up new options for energy storage applications. Unlike competitors, Ioxus' ultracapacitors are particularly suited for applications where weight or volume of systems is important because of their high-power densities.
Ioxus' new 1,000-, 3,000- and 5,000-F ultracapacitors are available at www.ioxus.com, starting at the following prices for low volume:
-- 1,000F, 2.7V ultracapacitors - $62
-- 3,000F, 2.7V ultracapacitors - $90
-- 5,000F, 2.7V ultracapacitors - $175
In addition, Ioxus is offering the following new designer kits starting at $149:
-- 1 - 2000F prismatic ultracapacitor
-- 1 - 600F cylindrical screw terminal ultracapacitor
-- 1 - 400F cylindrical screw terminal ultracapacitor
-- 2 - 220F cylindrical snap-in terminal pseudo-capacitors
-- 2 - 100F cylindrical snap-in terminal ultracapacitors
"Energy storage and power delivery technology are enabling the rapid growth of energy generation and cleantech markets worldwide," said Chad Hall, COO of Ioxus. "Ioxus will continue to aggressively expand its ultracapacitor product line to capitalize on this global opportunity to provide the best high-density, high-performance and low-cost energy storage option on the market."
Ioxus is working towards an AS9100 and ISO-9001 certification to adhere to the most rigorous quality standards. The New York State Energy Research and Development Authority (NYSERDA) awarded Ioxus $200,000 in December 2009 to expand its product line, accelerate sales growth and access new markets. The grant was awarded to 18 clean-energy businesses in New York State to help companies expand, commercialize cutting-edge technologies and create new clean economy jobs in New York.
About Ioxus, Inc.
Ioxus is the only company that develops and manufactures innovative ultracapacitor technologies entirely in the United States. The company provides cost-effective, green energy solutions for the military, transportation and alternative energy markets. The Ioxus family of ultracapacitors is uniquely optimized for high performance with low resistance, ideal for delivering high power bursts for acceleration, energy recapture, peak load shaving and high power applications. Ioxus was established by the parent company, Custom Electronics, Inc., which has supplied commercial and military clients with high reliability capacitors and integrated electronic assemblies since 1964. Ioxus is headquartered in Oneonta, N.Y. For more information, visit www.ioxus.com.
For more information, contact:
Melissa Cohen
Metis Communications
617-236-0500
New York State Awards 18 Businesses Funding as the Demand for Cleantech Energy ContinuesOneonta, N.Y., December 11, 2009 – Ioxus, Inc., developers and manufacturers of innovative ultracapacitor technologies for a wide range of energy storage markets, today announced it received $200,000 from the New York State Energy Research and Development Authority (NYSERDA) Grant to launch its high-voltage device, accelerate sales growth and access new markets. The grant was awarded to fund 18 clean-energy businesses in New York State to help companies expand, commercialize cutting-edge technologies and create new-economy jobs in New York. NYSERDA helps New York businesses increase their access to markets, customers, investors and partners, and build their capacity to serve a new or expanded customer base. The awards, which totaled up to $200,000 per company and require an equal match from the businesses, will help recipients create jobs, develop business plans, reach customers in the global marketplace, raise capital and build their business infrastructure. Ioxus is driving sales globally in the alternative energy market to provide electric double layer capacitors (EDLCs) and power modules for military, transportation and alternative energy applications. NYSERDA also awarded up to $1.5 million to Ioxus in April 2009 to support the company’s manufacturing facilities. As a result of the NYSERDA program, Ioxus has raised about $6 million in venture capital funding to support company growth and development of its solutions. “This grant is a confirmation of the market need for cleantech solutions from an economic and environmental perspective,” said Chad Hall, COO of Ioxus. “Design engineers recognize that ultracapacitors enhance energy efficiency and functionality by extending charge time and reducing the use of batteries for green technologies. As this continues, we will put our efforts toward providing the industry with best-of-breed solutions to meet market demand.” About Ioxus, Inc. Ioxus is the only company that develops, manufactures and commercializes innovative ultracapacitor technologies entirely in the United States. The company provides cost-effective, green-energy solutions for the military, transportation and alternative energy markets. The Ioxus family of ultracapacitors is uniquely optimized for high performance with low resistance, ideal for delivering high power bursts for acceleration, energy recapture, peak load shaving and high-power applications. Ioxus was established by the parent company, Custom Electronics, Inc., which has supplied commercial and military clients with high reliability capacitors and integrated electronic assemblies since 1964. Ioxus is headquartered in Oneonta, N.Y. For more information, visit www.ioxus.com. For more information, contact: Melissa Cohen Metis Communications 617-236-0500
Presentation Will Highlight Tips for Deploying Green Energy Solutions for Alternative Energy and Automotive Applications
Oneonta, N.Y. (PRWEB) November 11, 2009 -- Ioxus, Inc., developers and manufacturers of innovative ultracapacitor technologies for a wide range of energy storage markets, today announced that Michael Tentnowski, vice president of marketing, will present at Advanced Energy 2009 in Long Island, Hauppauge, NY. Tentnowski will present on the “Battery Fuel Cells and Energy Storage” Track IV on November 19 from 3:45 – 5:00 p.m. EST. He will discuss the challenges and solutions design engineers face when deploying battery modules for alternative energy and automotive applications as the need to conserve energy, recycle waste and make environmentally friendly choices continue to evolve.
Each step in the process of greening battery modules requires energy efficient engineering, the development of a complete solution that is designed with energy conservation in mind, and the use of materials that are themselves environmentally safe. Tentnowski will outline ways to support energy efficiency and reduce the aggregate annual consumption of fuel. Executives and engineers will learn how to embrace the promise of energy storage and lead the way in developing environmentally sound, economically advantageous systems. Topics he will cover include:
| - Greening battery modules in parallel with ultracapacitors, which can store an immense amount of energy and have a response time far faster than batteries alone. This combination uses fewer batteries or lighter duty batteries in a non-toxic way.
- Using ultracapacitors to support renewable generation technologies, such as providing ride-through during cloud coverage and wind speed changes.
- Supporting the Public Utility Grid system with power factor correction, load leveling, and assisting battery back-up systems with fast charge/discharge capability.
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About Ioxus, Inc. Ioxus is the only company that develops, manufactures and commercializes innovative ultracapacitor technologies entirely in the United States. The company provides cost-effective, green energy solutions for the military, transportation and alternative energy markets. The Ioxus family of ultracapacitors is uniquely optimized for high performance with low resistance, ideal for delivering high power bursts for acceleration, energy recapture, peak load shaving and high power applications. Ioxus was established by the parent company, Custom Electronics, Inc., which has supplied commercial and military clients with high reliability capacitors and integrated electronic assemblies since 1964. Ioxus is headquartered in Oneonta, N.Y. For more information, visit www.ioxus.com. For more information, contact: Melissa Cohen Metis Communications 617-236-0500
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