27.05.2008 14:34:00
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Active Power Appoints Martin Olsen Vice President of Business Development
Critical backup power systems inventor and manufacturer Active Power,
Inc. (NASDAQ: ACPW), today announced the appointment of Martin Olsen as
vice president of Business Development. Having previously served as
director of Product Management and Development for the company, Olsen
will structure and lead all global business development activities to
help grow Active Power’s distribution channels.
"Martin has done an outstanding job overseeing
our flywheel and compressed air solutions,”
said Jim Clishem, president and CEO of Active Power. "He
brings a unique combination of experience and insight in the cooling
systems and power management markets to this position that will enhance
Active Power’s overall value proposition for
its clients. Already, he has been instrumental in forging our
relationship with organizations such as Sun Microsystems (NASDAQ: JAVA)
for our PowerHouse containerized solutions which directly aligns with
our growth strategies of diversifying our sales channels and selling
power solutions.”
A U.S. patent holder, Olsen served as director, Data Center Group, for
Wright Line LLC, a Worcester, Mass. based data center infrastructure
firm, prior to joining Active Power in early 2007. From 1998 to 2004,
Olsen worked in the United States and several years overseas working in
Munich and Singapore, where he led the product marketing and development
charter for APC-MGE. Among his many accomplishments while at APC-MGE,
Olsen helped establish relationships with IBM Global Services and EDS to
facilitate the introduction of their InfraStruXure product to market in
15 European states.
"I am excited about the strategic partnerships
we currently have in the works because they allow us to diversify our
sales channels and emphasize Active Power’s
large system and total solution capabilities,”
said Martin Olsen, vice president of Business Development for Active
Power. "Our goal is to continue to cultivate
existing and new strategic partnerships that will enable us to grow our
capabilities, distribution and ultimately our revenue stream.” About Active Power
Active Power (NASDAQ: ACPW) provides efficient, reliable and green
critical power solutions and uninterruptible power supply (UPS) systems
to enable business continuity in the event of power disturbances.
Founded in 1992, Active Power’s
flywheel-based UPS systems protect critical operations in data centers,
healthcare facilities, manufacturing plants, broadcast stations and
governmental agencies in more than 40 countries. Active Power also
offers CoolAir, the only solution that provides both backup power and
backup cooling. With expert power system engineers and worldwide
services and support, Active Power ensures organizations have the power
to perform. For more information, please visit www.activepower.com.
Cautionary Note Regarding Forward-Looking Statements
This release may contain forward-looking statements that involve risks
and uncertainties. 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, CleanSource and CoolAir are registered trademarks of
Active Power, Inc. The Active Power logo, PowerHouse and PowerCentre are
trademarks of Active Power, Inc. All other trademarks are the properties
of their respective companies.
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