Boston-Power Names Keith Schmid as CEO

Power industry veteran bolsters executive team as company enters next stage of growth

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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About Boston-Power

Boston-Power, Inc. is an award-winning systems provider of next-generation lithium-ion battery technology. Designed to fuel a wide range of applications, its flagship offerings, Swing™ and Sonata®, serve as the foundation for a new era of longer lasting, faster charging, safer and environmentally sustainable batteries. The company’s Swing™ product delivers unmatched capabilities for Battery Electric and Plug-In Hybrid Electric Vehicles (BEV/PHEV), and utility energy storage applications. Sonata® delivers industry leading performance to the portable power and notebook computer markets.

Founded in 2005 by Executive Chairman, Dr. Christina Lampe-Önnerud, an internationally recognized innovator, entrepreneur and technology advisor with regard to portable power, energy storage and climate change, Boston-Power has more than 130 patents filed on its breakthrough technology. To date, the company has raised $191 million in venture funding and has earned accolades for its executive leadership and technology from organizations that include The Wall Street Journal, the World Economic Forum, Ernst & Young Entrepreneur of the Year and the Royal Swedish Academy of Engineering Sciences (IVA). Boston-Power is headquartered in Westborough, Massachusetts, and has Six Sigma-level mass manufacturing operations in Asia.

Boston-Power®, Sonata® and Swing™ are trademarks of Boston-Power, Inc. Other brand names or product names are trademarks or registered trademarks of their respective owners.

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Contacts

CHEN PR for Boston-Power
Chris Carleton
o: 781-672-3115
m: 857-891-2989
ccarleton@chenpr.com

Boston-Power Names Keith Schmid as CEO (Photo: Business Wire)

Boston-Power Names Keith Schmid as CEO (Photo: Business Wire)

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Release Summary

Boston-Power®, Inc., growing provider of next-generation lithium-ion battery cells, battery modules & battery management systems, announced that Keith Schmid has been appointed chief executive officer

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Contacts

CHEN PR for Boston-Power
Chris Carleton
o: 781-672-3115
m: 857-891-2989
ccarleton@chenpr.com