Company: Advanced Electron Beams
Advanced Electron Beams Names Richard M. Feldt as Chief Executive Officer
Richard M. Feldt, highly experienced & respected clean technology executive, joins Advanced Electron Beams to lead company through next phase of growth
WILMINGTON, Mass., September 29, 2010 – Advanced Electron Beams (AEB) — the world’s leading supplier of compact electron beams for energy efficient, environmentally sustainable manufacturing solutions — has named Richard (Rick) Feldt as chief executive officer. Feldt was previously CEO at Evergreen Solar (Nasdaq: ESLR), a Massachusetts-based provider of solar power products.
“We are thrilled to attract someone of Rick’s caliber and experience to lead AEB in its next phase of growth,” said Mitch Tyson, CEO of AEB for the last five years who will continue to serve as the company’s Chairman. “Rick is the perfect person to develop a world-class manufacturing operation, expand customer operations, and accelerate new technology development.”
With more than 200 of the company’s electron beam emitters shipped to over 50 customers worldwide, AEB’s technology helps traditional manufacturers become more competitive by replacing energy -intensive thermal and chemical processes with highly efficient electron beam technology. With a current focus on developing packaging sterilization technology for the pharmaceutical, medical device, food and beverage industries, AEB is planning solutions for a wider range of industrial applications including curing high performance coatings, materials engineering, air pollution abatement, air sterilization, and food safety.
“I am excited for this opportunity to join the AEB team and to lead the organization as it scales its operations to address new market opportunities,” said Rick Feldt, AEB’s newly appointed chief executive officer. “The company’s strong proprietary technology base, established OEM partnerships, and large target markets provide a strong foundation from which to build a highly valuable, industry leading company.”
Feldt is a seasoned and well-respected senior executive with more than 30 years experience in technology. Most recently, he served as Chairman, CEO and President of Evergreen Solar, overseeing the company’s explosive growth from $9.3M in revenues in 2003 to $271M in 2009 and leading its international expansion. Prior to joining Evergreen, Feldt was CEO of Perseid, a developer of optical phased array technology. Feldt has also held senior positions at SupplierMarket.com, Symbol Technologies, A.T. Cross Company, Eastman Kodak Company, and Spectra-Physics, Inc. He received a Bachelor’s degree in industrial engineering from Northeastern University, is a member of the Board of Directors of ICF International, and is member of Northeastern University Dean of Engineering’s Advisory Council.
“Beyond investing in AEB, GE has deployed AEB’s technology at our Global Research Center for several years, and views AEB as the world leader in compact electron beam technology,” added Kevin Skillern, managing director and leader of venture capital at GE Energy Financial Services, an investor in AEB. “AEB has significant growth opportunities across a range of industrial applications, and Rick has the experience and leadership to help scale the company’s operations and business development to realize that potential.”
Privately held AEB is funded by leading venture capital groups including Atlas Venture, General Catalyst Partners, Rockport Capital Partners, Flagship Ventures, and GE Energy Financial Services.
About Advanced Electron Beams
Advanced Electron Beams (AEB) enables the green factory of the future with its energy-efficient, cost-saving, environmentally sustainable technology. AEB replaces traditional thermal and chemical production processes with its compact electron beam emitters that harness electrons to enable cleaner,
less expensive and more efficient production. AEB’s emitters are used in common processes such as sterilization, curing, polymer treatment and pollution abatement across industries including pharmaceutical and medical device, food and beverage, printing and packaging, industrial coatings and plastics manufacturing.
For more information about Wilmington, Mass.-based AEB, visit www.aeb.com.