AUSTIN, Texas, Nov 12, 2010 (BUSINESS WIRE) -- Critical backup power and infrastructure systems manufacturer Active Power (NASDAQ: ACPW) announced today the appointment of Martin Olsen as vice president of Sales and general manager for the Americas region. Olsen will lead all multi-channel sales strategies to drive growth and market penetration in North America and Latin America. Olsen will report directly to Jim Clishem, president and CEO.
In addition to his sales responsibilities, Olsen will continue to oversee all global business development efforts to diversify sales channels and expand new revenue streams. Olsen replaces Clishem who was also serving as interim vice president of Sales for the Americas.
A holder of three U.S. patents, Olsen is a seasoned professional in the datacenter infrastructure markets with more than 13 years of global marketing, product development and business development experience. Prior to this appointment, Olsen served as vice president of Global Channels and Business Development for Active Power. Before joining the company in 2007, Olsen was director, Data Center Group for Wright Line LLC, and at APC by Schneider Electric led the product marketing and business development charter in Munich, Singapore and the United States.
"Under his leadership, Olsen and his team helped expand the business into new markets, assisted in new product development initiatives and uncovered new market opportunities for Active Power," said Jim Clishem, president and CEO, Active Power. "In particular, our strategic IT partner channel and OEM channel have performed extremely well and the success of these channels was critical in our achieving record third quarter 2010 revenue and our first quarterly net profit in company history.
"We will benefit immensely from Martin's experience and proven record of success as we continue our strong growth and expansion in the UPS (uninterruptible power supply) and power infrastructure markets." About Active Power Active Power provides efficient, reliable and green critical power solutions and uninterruptible power supply (UPS) systems to enable business continuity in the event of power disturbances. Founded in 1992, Active Power's flywheel-based UPS systems protect critical operations in datacenters, healthcare facilities, manufacturing plants, broadcast stations and governmental agencies in more than 40 countries. With expert power system engineers and worldwide services and support, Active Power ensures organizations have the power to perform. For more information, please visit www.activepower.com.
Cautionary Note Regarding Forward-Looking Statements This release may contain forward-looking statements that involve risks and uncertainties. Any forward-looking statements and all other statements that may be made in this news release that are not historical facts are subject to a number of risks and uncertainties, and actual results may differ materially.
Specific risks include delays in new product development, product performance and quality issues and the acceptance of our current and new products by the power quality market. Please refer to Active Power filings with the Securities and Exchange Commission for more information on the risk factors that could cause actual results to differ.
Active Power, CleanSource and CoolAir are registered trademarks of Active Power, Inc. The Active Power logo and PowerHouse are trademarks of Active Power, Inc.
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SOURCE: Active Power CONTACT: Active Power Investor Contact: Liolios Group Ron Both, 949-574-3860 firstname.lastname@example.org or Active Power Media Contact: Lee Higgins, 512-744-9488 Public Relations Manager email@example.com Copyright Business Wire 2010 -0- KEYWORD: United States
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