July 16 , 2009
Reidar Langmo, Co-Founder and Former CEO of REC, to Join Voltaix Board
San Francisco, CA - Voltaix, a leading provider of materials that enhance the performance of semiconductor chips and solar cells, announced today that Reidar Langmo, founding partner and CEO of Novus Energy Partners (“Novus”) and co-founder and former CEO of Renewable Energy Corporation (REC”) of Oslo, Norway, has joined the Voltaix Board of Directors. Voltaix also announced that it had recently concluded a $9,000,000 investment by Novus, a transatlantic investment fund focused on emerging companies in the New Energy industry.
“Reidar Langmo is one of the most accomplished executives in the clean tech industry,” said Dr. Peter deNeufville, Chairman of Voltaix.” He and his colleagues at Novus bring to Voltaix both an exceptional base in semiconductor materials and a track record of successfully industrializing energy technologies.”
Langmo co-founded REC and its predecessor entities in 1994 and played a key role in developing REC as the world’s most integrated solar energy company. In 2006 REC raised more than $1 billion in what was the largest clean energy IPO to date, and REC remains among the leading companies in the solar industry today.
Voltaix is poised to leverage its deep semiconductor expertise to facilitate the growth of the thin film PV market”, said Mr. Langmo. We are delighted to partner with the company and its world class management team.”
Voltaix will use the funds from the Novus investment to further develop its manufacturing capabilities to meet growing demand for thin film-based solar power and advanced CPU and DRAM products.
“Reidar is a welcome addition to our board, and we look forward to working with him and the Novus team”, said Dr. deNeufville. We anticipate creative partnerships and expansion plans to arise from this collaboration.”
Voltaix is a leading provider of materials used in the production of semiconductor and advanced photovoltaic cells. The company sells its products through the major international gas distributors and is recognized worldwide for excellence in the synthesis and production of high purity gases and chemicals that enhance the performance of electronic, photonic and solar devices. The company, the former ChemOvonic Division of Energy Conversion Devices, Inc.(NASDAQ: ENER) was spun off as an independent business in 1986. In 1998 the company acquired Florida Scientific Laboratories, Inc. Today, Voltaix operates facilities in Branchburg, NJ and High Springs, FL. Further information about Voltaix is available at www.voltaix.com.
About Novus Energy Partners
Novus Energy Partners is a transatlantic investment fund focused on emerging companies in the New Energy industry. The Principals are pioneers in the sector from the US and Europe who have formed, financed and led some of the industry’s most successful organizations. Novus makes both minority and control investments in clean energy, electrification of transport, energy intelligence and the carbon management sectors. The investment strategy combines the team’s broad operating and technical expertise with a disciplined investment approach.