Boston-Power Appoints New CEO
WESTBOROUGH, Mass. Boston-Power®, Inc., the rapidly growing provider of next-generation lithium-ion battery cells, battery modules and battery management systems, today announced that Keith Schmid has been appointed as chief executive officer. His addition to the management team comes as Boston-Power expands its product and business development, sales and marketing activities in key industry sectors that include transportation, utility energy storage and portable power.
With customers that include worldwide brands such as HP, Saab, Asus and NASA, and more to be announced in the first half of 2011, Schmid brings to Boston-Power a track record for growing companies into industry leaders coupled with an extensive background in the power systems and energy storage industries. He joins from Power Distribution, Inc., a leading provider of power distribution equipment and services, where he served as president and CEO. Under his leadership, revenues more than tripled. Schmid is credited with spearheading the diversification of the product portfolio; executing and integrating strategic acquisitions; and establishing sales channels in Europe, Asia and Latin America. Earlier in his career, he held a series of executive-level positions at Exide Industrial Energy, GNB Technologies, Philips Consumer Communications and AT&T/Lucent Power Systems.
With the addition of Schmid as CEO, company founder Dr. Christina Lampe-Önnerud will become Executive Chairman of Boston-Power. In this position, working closely with Schmid, she will continue her focus on guiding the company’s vision, strategy and innovation-to-market-development initiatives and serving as a key spokesperson.
“Demand for energy storage has never been greater – for transportation, smart grid, mobile devices or countless other applications,” said Bandel Carano, managing partner, Oak Investment Partners. “Boston-Power’s disruptive lithium-ion battery products are being adopted by market leaders capitalizing on their best-in-class capabilities in performance, safety, long life, fast charge and environmental sustainability. Keith’s prowess in leading fast growing companies in competitive, high growth markets positions Boston-Power well to extend its reach into an even larger community of customers and partners. He will provide an excellent complement to Christina, as she continues to define the vision for what lies ahead for battery technology and steers our next generations of technology into commercialization.”
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