Infinia Press Contact:
FOR IMMEDIATE RELEASE
Infinia Names Mike Ward To Serve As CEO
KENNEWICK, WA, April 19th, 2011 – Infinia Corporation today announced that its Board of Directors has named Mike Ward to serve as the company’s Chief Executive Officer.
Ward, 54, most recently served as President of Autoliv Americas, with 13,000 employees and $2.1 Billion in revenue, one of the largest operating divisions of Autoliv Corp. (NYSE: ALV), a leading provider of automotive airbag and safety restraint systems. Prior to that, he was President of Autoliv North America beginning in 2004. Ward joined Autoliv 25 years ago and played key engineering, sales, and operating roles during Autoliv’s successful efforts to drive industry wide adoption of airbag systems.
Ward was inducted into the Shingo Academy in 2010 for his long time commitment to implementing lean principles driving operational excellence. He has a bachelor's and master's degree in Mechanical Engineering from Michigan State University and Louisiana State University, respectively.
“Solar power is a massive growth opportunity,” said Ward. “Infinia has a well-established pipeline of customer demand with large scale commercial opportunities for the PowerDish. I am impressed by Infinia’s core technology, its rigorous engineering, and the potential to change lives with cheap, broadly available solar power.”
J. D. Sitton, Infinia’s current CEO and a member of its board since 2002, said “My board colleagues and I are extremely pleased that Mike has agreed to join Infinia at this critical juncture. Mike has the international automotive industry manufacturing experience we need alongside a successful track record of bringing innovative products to market in rapid growth environments. More importantly, Mike has proven to be a very effective partner for Infinia during his tenure at Autoliv and is a capable leader who actively invests in people.”
Mr. Sitton will remain with the Company, where he will continue to serve on the Board of Directors and drive the Company’s efforts to build on existing relationships and establish new global strategic alliances.
Richard Shorten, Infinia’s board chair and long-time investor in Infinia added “For the past eight years I have worked with Infinia to realize its goals and it is exciting that the company is ready for its next step – driving large scale commercialization of the PowerDish. The combination of Mike’s leadership and proven execution skills with J.D.’s strategic vision are going to be formidable and I am looking forward to working with them to deliver on what I believe is one of the most compelling social and economic opportunities of our time.”
“The PowerDish is a game-changing product and ready for launch,” said Ward. “I am proud to join such a capable and aggressive team and I am looking forward to working with Infinia’s customers, supply chain partners and employees to provide cost effective energy solutions now and for future generations.”
Ward begins his duties on April 26th, 2011 and will be leading the company from its headquarters in Kennewick, Washington.
# # #
About Infinia Corporation
Infinia is an energy technology company commercializing the PowerDish™ – a solar power generation product that converts concentrated solar energy into electricity. The PowerDish couples Infinia’s proven free-piston Stirling engine with a dish-style solar concentrator to produce 3.2kW of grid-quality AC power. Infinia’s system is the world’s first solar power generation product suitable for automotive-scale manufacturing and deployment ranging from single units for end-users to thousands of units deployed in utility-scale solar power plants. Since 1985, Infinia has been delivering super-high reliability, zero-maintenance, free-piston Stirling engines and power systems to commercial companies and government agencies.
Additional information may be obtained at www.thePowerDish.com and www.InfiniaCorp.com
PDF version of this release: http://www.infiniacorp.com/pr/Infinia_Names_Mike_Ward_CEO.pdf