Astris Energi picks Brandt as director
2005-07-11 18:47 ET - News Release
An anonymous director reports
ASTRIS ENERGI WELCOMES INDUSTRY VETERAN TO BOARD
Astris Energi Inc. has appointed Gary G. Brandt, formerly chief financial officer of Hydrogenics Corp., to the board of directors, effective immediately.
Mr. Brandt is a senior business leader with extensive cross-industry and cross-border experience in alternative energy, telecommunications and technology. From 2001 to 2005, he was CFO of Hydrogenics, a hydrogen and PEM fuel cell technology company based in Toronto. During his tenure, the company completed a fully marketed equity offering that raised $62-million (U.S.) with excellent participation from U.S. institutional investors. As well, the company completed three acquisitions, including the acquisition of Stuart Energy for $120-million (U.S.). Mr. Brandt played an instrumental role in the integration of these companies. Business development initiatives launched during his tenure drove a five-fold increase in revenues at Hydrogenics to pro forma $35-million (U.S.). During the same period, United States institutional ownership of Hydrogenics increased from zero to more than 30 per cent. Prior to his position at Hydrogenics, Mr. Brandt was CFO of Colorado-based @Link Networks. Mr. Brandt completed his bachelor of commerce (honours) degree at Queen's University, Kingston, Ont., and his master of business administration at York University, Toronto.
"Gary Brandt is a well-respected industry leader with an enviable track record," said Jiri K. Nor, chairman and chief executive officer. "He has raised capital, overseen mergers and acquisitions, and delivered revenue growth specific to our industry. Our board will benefit from his energetic presence and his demonstrated expertise in business development and capital markets financing. As Astris evolves into the next stage of business development, I expect Gary will play an ever-increasing role in our company's future success."
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