Prenova today announced that its Board of Directors has named Michael Nark as the Company’s President and Chief Executive Officer effective October 15, 2007. Mr. Nark succeeds Ed Smith who has served as CEO since 2003. Prior to joining Prenova, Mr. Nark was President and CEO of GEOCOMtms, a privately-held fleet management services provider to the oil and gas marketplace. He is extremely familiar with the energy industry as he served as Executive Director of sales operations for Honeywell International.
“We are extremely pleased to have Michael join Prenova as our new CEO. His strong entrepreneurial skills and familiarity with the energy market make him the perfect person to lead us to the next level of growth,” said Tom Carlin, Chairman of Prenova’s Board of Directors. “He has a keen understanding of how our solutions can reduce our customers’ energy-related spending, and how we can best bring these solutions to market.”
In addition to the new CEO announcement, Prenova is pleased to announce that it has been selected as one of the most innovative technologies in the Southeast region by the 2008 Southeast Venture Conference (SEVC) and its selection committee of nationally recognized venture capitalists. Selection criteria included innovation, growth potential, and long-term promise as a market leader.
Prenova’s Asset OptimizationSM solution is the driving innovation behind this prestigious recognition. Asset Optimization is a knowledge-based, technology-enabled solution that remotely manages energy usage and optimizes energy-related asset performance in real time. Asset Optimization is a “clean” technology: it produces no incremental carbon emissions as it operates to improve operational performance and efficiencies while reducing costs, energy consumption, and energy wastes (CO2 emissions).
As part of the SEVC recognition, Prenova will be presenting its Asset Optimization solution at the second annual SEVC conference February 27-28 in Tysons Corner, Virginia. According to the conference organizers, expansion capital investors and others representing more than $40 billion under management are currently scheduled to attend. Keynote speakers include former Pepsi and Apple CEO John Sculley, Salesforce.com President Jim Steele, and NEA co-founder Frank Bonsal.
Founded in 1997 and headquartered in Marietta, GA, Prenova’s clean energy management solutions deliver economical, reliable, environmentally friendly energy to match our customers’ needs. Prenova’s unique delivery platform enables the company to leverage existing assets to produce immediate, enhanced investment returns through reductions in both direct (price, tariff, utility payments) and indirect (usage, assets, maintenance) energy costs. The result is an unrivaled level of hard dollar savings plus a sustained reduction in energy consumption and carbon gas emissions, all while improving the reliability of business operations. Prenova is a premier energy conservator - our solutions maximize energy efficiencies in our customers’ operations. We link our customers’ facilities together with our technology and service solutions enabling customers to do more with less – the ultimate in conservation efforts. Prenova’s focus on optimizing assets and equipment yields a high impact outcome: significant reduction of energy costs, increased reliability of energy-related systems critical to business operations, and a dramatic reduction in harmful emissions. We drive asset efficiency to revolutionize energy conservation. The value that Prenova creates for its customers is significant to their bottom line, and includes:
• Reduce energy consumption by 10-20%
• Reduce the price paid for energy by 2%-5%
• Reduce unplanned maintenance service call-outs by up to 70%
• Increase asset life by up to 30% Prenova manages billions in annual energy expenditures across hundreds of thousands of customer locations across North America.
Some organizations that rely on Prenova include Brinker, Coldwater Creek, Costco, Crate & Barrel, Dollar Tree, Dunham’s Sports, Eddie Bauer, Famous Footwear, Home Depot, Mark’s Work Wearhouse, Quiznos, Seneca Foods, 24 Hour Fitness, U.S. Cellular and West Marine. For more information, please visit www.prenova.com.