eIQ Energy, developer of DC-to-DC Parallel Solar technology, brought its board member Jerry Cutini in as president and CEO. Oliver Janssen will remain with the company as chief business development officer.
July 26, 2011 — eIQ Energy, developer of DC-to-DC Parallel Solar technology, brought its board member Jerry Cutini in as president and CEO. The company cites Cutini’s sales, marketing, operations, and merger & acquisition experience as supporting its growth from development into commercial, MW-scale deployments.
In the above audio interview, Cutini explained that the company’s rapid growth was a major driver that prompted the change in leadership. “Oliver, the board, and I had discussed the particularly difficult phases coming up as we scale the company,” said Cutini. “Everything from a field installation team, to working with a larger scale of customers, to the very basic things of operations and financial controls inside a growing company,” will need to be accomplished. Cutini characterizes the company and team as being in great shape and given his being a member of the board, the change is a natural fit.
Cutini’s first order of business is to visit the company’s customer in Coalinga, where a megawatt installation is under way. Next is growing the operational team and putting financial controls in place. “The good news is, the product is ready, the team is ready, and the company is ready,” said Cutini. “There’s nothing to fix in this case.”
Cutini has served in executive and board member roles with various technology companies, public and private. He has raised more than $250 million from public and private investors, while playing a key role in two successful initial public offerings. Cutini brings “an investor’s perspective,” noted eIQ Energy board member Luis Llovera, managing director of Robert Bosch LLC.
From 2003 to 2009 Cutini served as chairman, CEO and president of Aviza Technology, Inc., a semiconductor equipment company. He oversaw the company’s divestiture from its parent company ASML Holding NV, growing it to nearly $250 million in annual revenues.
As EVP and co-founder of OnTrak Systems, Inc., he was instrumental in growing that company’s annual sales from $1 million to $125 million, while also raising $85 million from private investors and public offerings.
Former eIQ Energy CEO Oliver Janssen will remain with the company as chief business development officer, where he will work closely with Cutini to further develop the company’s market, customers and strategic partners.
Janssen will continue working to get initial penetrations into large commercial scale PV installations with validated pipelines, and from there, it will be possible to get designed into the entire pipeline. “The rate of adoption, we expect, will accelerate as performance data comes in from the initial installations,” said Janssen. “Our fundamental technology development is essentially complete — we can demonstrate performance and reliability, and we can demonstrate to the customers that the product is going to perform as advertized.” The company will continue ongoing product development of its DC Boost technology for specific applications, but it is basically, a completed product.
eIQ Energy, Inc. makes Parallel Solar technology, built around the vBoost converter module. The company was founded in 2007. For more information, please visit www.eiqenergy.com