Convergent Energy and Power Announces Leadership Update

Russ Laplante to join Convergent as Chief Financial Officer

Frank Genova to serve as Co-Chief Executive Officer

NEW YORK--(BUSINESS WIRE)--Convergent Energy and Power (Convergent), a leading provider of energy storage solutions in North America, today announced Russ Laplante has been appointed Chief Financial Officer. Convergent Co-Founder Frank Genova, who previously held the role, will transition to Co-Chief Executive Officer, alongside current Chief Executive Officer and Co-Founder Johannes Rittershausen.

“Russ brings a strong track record driving financial excellence and leading strategic initiatives across the renewable energy landscape,” said Rittershausen. “As we build and operate energy storage systems to modernize our aging power grid, I have no doubt that Russ’s expertise in financing and managing energy storage and solar will benefit Convergent and the communities where we operate.”

Laplante joins Convergent from Savion, a utility-scale solar and energy storage project development company, where he served as Chief Investment Officer and spent a decade overseeing M&A as well as leading tax equity transactions, project finance, and valuation. Prior to joining Savion, Laplante was Vice President of Business Development at Tradewind Energy and a founding member of OwnEnergy, a utility scale wind development company where he managed development, offtake and construction financing. Laplante began his career at Goldman Sachs as a financial analyst and holds the Chartered Financial Analyst® designation.

“Convergent is a best-in-class energy storage developer, owner, and operator that has been around since the inception of the battery energy storage sector,” Laplante said. “I look forward to leveraging my experience in the renewable energy sector to help Convergent advance the clean energy transition and maximize the growing demand for energy storage.”

Reporting to Genova, Laplante will oversee corporate development, capital markets, financial planning and analysis, tax and accounting.

“It has been a privilege to serve as Convergent’s CFO for so many important milestones at Convergent and within the broader energy storage industry,” said Genova. “With the growth of our business, we are thrilled to add experienced leaders like Russ to our team. I am looking forward to working with him and, together with Johannes, creating solutions for our customers that reduce electricity costs and increase grid reliability.”

“As co-founders, Frank and I have worn many hats, and we have shared leadership responsibilities since the early days of the company,” Rittershausen said. “Today, we have grown to more than $1bn of systems in operation or under development, and with the growth of that portfolio, it makes sense to bring on Russ as CFO so that Frank can apply his significant expertise in development and operation to our robust pipeline of projects.”

About Convergent Energy and Power

Convergent Energy and Power (Convergent) is a leading provider of energy storage solutions in North America. Convergent has over a decade of experience financing and managing all aspects of the energy storage development cycle to help customers reduce electricity costs and increase reliability. The company’s commercial, industrial, and utility-scale assets can yield seven-figure savings while advancing the clean energy transition. Convergent’s proprietary asset management platform, PEAK IQ® leverages machine learning and deep market knowledge to optimize asset performance and maximize value. Convergent has over $1bn invested in or committed to assets in operation or under development across North America. For more information, visit convergentep.com or follow us on LinkedIn.