Cyrium Technologies Taps Industry Leaders for Two Key Posts
Alan L. McKinnon, Jr. Joins as Chief Financial Officer;
Steven G. Wallace Named R&D Leader
Compay Also Completes Move to Expanded Headquarters
Ottawa, Canada – June 16, 2010 – Cyrium Technologies Inc., a leader in advanced concentrator photovoltaic (CPV) cell solutions for the solar industry, today announced two key executive management appointments, as well as the relocation of the company to expanded corporate offices and research facilities in Ottawa.
Alan L. McKinnon, Jr., is named Vice-President and Chief Financial Officer at Cyrium, replacing Steven Neal, who had filled the role during the interim transition period. McKinnon is an industry veteran with extensive experience in raising capital for developing companies, as well as cash and risk management – all with international expertise in both developed and developing industrial areas of the world.
McKinnon joins Cyrium from Vietnam Chipscale Advanced Packaging Services where he was Chief Financial Officer. Prior to this Mckinnon was with The Garrett Group of San Francisco, where since 2002 he had been senior vice president responsible for global structured financial advisory efforts. Previously he served as corporate treasurer at Varian Semiconductor (Nasdaq: VSEA) where he was part of the management team that led their initial public offering and their ongoing investor relations and cash, real estate and risk management. McKinnon also served as principal of East Asia Ventures, LLC providing management expertise and capital to technology companies globally, as well as chief financial officer of Prodigy International, Inc. a wholly owned subsidiary of Prodigy, Inc. He holds an MBA from Babson College in International Business and a BSBA from the School of Management at Boston University in Finance and Economics.
Simultaneously, Steven G. Wallace is named Senior Director of Research and Development for Cyrium, responsible for managing R&D efforts as well as the R&D team driving efforts toward creating lower cost, higher efficiency and greater performance CPV cells.
Wallace joins Cyrium from Newport/Spectra-Physics (Nasdaq: NEWP) of California, where since 2002 he held increasingly responsible positions in product development and validation, engineering team management and customer technical service serving the semiconductor and bioinstrumentation industries. Previously, he had served as a product engineer at Nortel Networks (Nasdaq: NRTLQ). He holds a doctorate in engineering physics and masters in engineering physics from McMaster University as well as a bachelor in science in applied physics from Laurenthian University.
In addition, the company announced that it has completed its move from Canada’s National Research Centre’s (NRC) facilities to its new corporate offices and research and development center on Hines Road in Ottawa.
“We are growing to meet the demands of the emerging CPV industry and to support our fabless business model, said Harry Rozakis Cyrium’s president and chief executive officer. “With Alan and Steve on our team, we gain further financial and technical expertise. Each will bring broad tech industry experience and will contribute to our efforts in becoming the obvious choice for concentrator photovoltaic cells”.
Rozakis added, “With our move to our new facilities we can house the additional personnel and lab equipment we need to grow. Furthermore we can now expand our research efforts and build further upon our QDEC (quantum dot enhanced cell) technologies. Cyrium’s technology has already advanced considerably ahead of competitive offerings in delivering advanced multi-junction solar cells necessary for commercial CPV systems manufacturers, and we believe our relentless push to succeed will enable us to be the first to realize higher efficiency at higher concentration levels. Our goal is to ensure that Cyrium Technologies becomes a dominant company in the effort toward moving CPV systems companies towards achieving the lowest levelized cost of energy (LCOE).”
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About Cyrium Technologies
Headquartered in Ottawa, Canada with business development offices in Northern California, Cyrium Technologies works with leading concentrator photovoltaic (CPV) systems companies to apply innovative technology and provide solutions for the solar industry. With its proprietary technology and fabless CPV cell manufacturing model, Cyrium will continue to develop next generation cells at higher efficiencies and lower cost. Further information on the company can be found at www.cyriumtechnologies.com and at http://www.cyriumtechnologies.com/news-events/press-releases/taps-industry-leaders-and-move-to-new-facilities.
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