Wednesday, March 23, 2011
Pearson named CEO of Aquion Energy
Aquion Energy Inc., a Lawrenceville start-up developing a novel sodium-ion battery, has tapped Scott A. Pearson as CEO.
The company, founded in 2009, is based on research by Carnegie Mellon University engineer Jay Whitacre, and aims to build a battery that is cheaper, longer lasting and more environmentally friendly for commercial scale energy storage.
Pearson was most recently president and CEO of Protonex Technology Corp., a Massachusetts-based maker of advanced fuel cell power systems. Pearson remains chairman of that company’s board and a non-executive director.
He joins the company at a time of growth. Since last summer, the firm has gone from 17 employees to 33 and in the spring it will begin assembly and testing of prototype units. By fall, the company expects to begin shipments to customers.
“The company’s proprietary technology base and compelling value propositions in conjunction with the industry’s strong need for better energy storage solutions provide a strong foundation for building a valuable, industry-leading company,” Pearson said in a written statement.
To date, the company has received funding from the venture capital firm Kleiner Perkins Caufield & Byers (KPCB), as well as a $5 million grant from the Department of Energy.
“Scott is the ideal person to manage the company’s product and market strategies, to establish world-class manufacturing operations, and to build mutually beneficial partnerships with leading customers, strategic partners and government agencies,” said Ray Lane, chairman of Aquion’s board and managing partner at Kleiner Perkins. “We at KPCB are also very pleased to see Aquion Energy, one of our most promising venture investments, transitioning from an early-stage technology development organization into a full-fledged product company.”
Article courtesy of Pittsburgh Business Times