Enecsys names clean energy veteran Mossadiq Umedaly as Executive Chairman

Enecsys Limited, a manufacturer of solar photovoltaic micro-inverters, has named Mossadiq Umedaly as Executive Chairman. Umedaly has over 20 years' experience in growing clean energy businesses. From 2007 to 2009, he was the Chairman of BC Hydro and Power Authority, a $5 billion Canadian electric utility. Prior to that he transformed the power electronics company Xantrex Technology Inc. from a small niche player with estimated revenues of $10 million in 1998 to a world leader in renewable power markets with revenues of $300 million in 2008. Xantrex was sold to strategic acquirers for $500 million in September 2008. From 1990 to 1998, Umedaly was the VP and CFO of fuel cell pioneer Ballard Power Systems. At Ballard, he played an instrumental role in increasing the value of the company from $10 million to $6 billion. Previous to this Umedaly worked for the Aga Khan Development Network and for PricewaterhouseCoopers.

"At a time when several companies are entering the solar micro-inverter market, Enecsys has a unique value proposition that offers distinct advantages for PV module manufacturers, solar PV system integrators, installers and end customers," said Umedaly. "Most importantly, the company has an outstanding board, management team, and technology ready to deliver products to the market in the near future. I look forward to working with them to help ensure that Enecsys reaches its full potential as a leader in this fast-growing market."

Enecsys CEO, Paul Engle, added; "We're very pleased to have attracted someone of Mossadiq's talent and experience to our team. His deep knowledge of the clean power sector will undoubtedly be invaluable as we bring Enecsys technology and products to market in early 2010."