FLORENCE, Ky.--(BUSINESS WIRE)--ePower Engine Systems, Inc. announced today that it has hired John L. Petersen to serve as its Executive Vice President and Chief Financial Officer.
Mr. Petersen is a lawyer and accountant with three decades of corporate finance experience, principally in private law practice. From 2004 through January 2007, John served as board chairman of Axion Power International, Inc., a global leader in advanced lead-carbon battery technology. He also served as Axion’s general counsel and was actively involved in a series of financing transactions that raised over $40 million in equity for that firm. Over the last five years, John has developed a global following among investors in the alternative energy, energy storage and electric vehicle sectors. He frequently appears as a presenter at battery industry conferences and institutional investor events. John is a 1976 graduate of the accountancy program at Arizona State University and a 1979 graduate of the Notre Dame Law School.
Commenting on Mr. Petersen’s agreement to join ePower’s executive team, CEO Jay Bowman said: “We are pleased that John has agreed to become our Executive Vice President and Chief Financial Officer and provide hands-on leadership and focus for our corporate finance and business development efforts. Over the last four years, our technical team has brought our engine-dominant series hybrid drivetrain for heavy trucks to a performance level that outperforms the EPA’s 2017 fuel economy and greenhouse gas emission guidelines. The next big step will be proving system durability in day-to-day fleet operations. We believe John’s knowledge of corporate finance and the management of growth, coupled with his extensive industry and financial networks, will be invaluable as we build relationships and commence durability testing.”
About ePower Engine Systems
ePower Engine Systems, Inc. is developing an engine-dominant diesel-electric series hybrid drivetrain for heavy trucks with gross vehicle weights of 60,000 to 80,000 pounds. Globally, heavy trucking consumes over a hundred billion gallons of fuel each year and emits over a gigaton of CO2. While the US average fuel economy for the Class 8 fleet is roughly 6 miles per gallon, ePower’s second-generation prototypes averaged 8.1 mpg with payloads of 5 to 15 tons, a 34% improvement. Its third-generation prototypes are expected to offer fuel economy of 8 to 10 mpg across all weight classes.