October 22, 2008
GridPoint Appoints Michael R. Lach Chief Operating Officer
GridPoint, Inc., a leading clean tech company whose smart grid software platform benefits electric utilities, consumers and the environment, announced that it has appointed Michael R. Lach Chief Operating Officer. Previously, Lach served as President and Chief Operating Officer for NeuStar, which was named 2005 Technology IPO of the Year.
"Mike's demonstrated leadership in building a large network infrastructure company such as NeuStar is extremely impressive," said Peter L. Corsell, CEO, GridPoint. "We are excited to have Mike onboard to continue building our organization and cement our leadership position in delivering smart grid solutions to electric utilities."GridPoint is working with utilities nationwide including Duke Energy and Xcel Energy. GridPoint's software platform applies information technology to the electric grid to provide utilities with an intelligent network of distributed energy resources that controls load, stores energy and produces power. The software platform offers utilities a single interface, located in a utility's control room, for managing a variety of distributed energy assets including plug-in electric vehicles, solar panels, wind turbines, advanced storage technologies and household devices such as thermostats, electric water heaters, pool pumps, etc.
Lach is responsible for GridPoint's operational development and day-to-day execution across all departments. In a variety of leadership positions throughout his career, he has demonstrated strategic vision, organizational development and consistent execution in areas including operations, engineering, IT, mergers and acquisitions, business integration, customer service, sales and marketing.
At NeuStar, a high-growth technology company that operates a large-scale clearinghouse for the communications and Internet industry, Lach reorganized the company, rebuilt the management team, and dramatically increased average overall revenue growth. Under his leadership, the company had a highly successful IPO on the New York Stock Exchange, raising over $1.2 billion together with its secondary offering, and exceeded post-IPO guidance for seven consecutive quarters.
Prior to NeuStar, Lach served as President, Network & Systems Services for Winstar Communications, handling the engineering, construction, operations and information systems of Winstar's broadband network for over 30,000 customers. Previously, he was responsible for Covad Communications' merger and acquisition strategy and integration activities in his role as Executive VP, Corporate Development & Business Integration. Earlier, Lach held various management positions at Ameritech, where as VP of Customer Provisioning & Maintenance he oversaw 12,500 employees and improved technician productivity by 15 percent. He holds a B.S. in industrial engineering from Purdue University.
Karl Lewis, who previously served as GridPoint's COO, has assumed the role of Chief Strategy Officer, focused on corporate development opportunities. GridPoint recently announced $120 million in equity financing and the acquisition of V2Green, a Seattle company that provides plug-in electric vehicle grid integration technology to enable utilities to "smart charge" electric vehicles anywhere within a service territory.
A 2008 World Economic Forum Technology Pioneer, GridPoint was also named the overall winner by AlwaysOn GoingGreen 100 Top Private Companies 2007 and winner of the 2007 North American Frost & Sullivan Award for Green Excellence. GridPoint has been featured in several books including the newly released Perfect Power: How the Microgrid Revolution Will Unleash Cleaner, Greener, More Abundant Energy, as well as Earth: The Sequel and The Clean Tech Revolution. MIT's Technology Review magazine recently named Corsell one of the world's top innovators under the age of 35. He also serves as chairman of the World Economic Forum's Global Agenda Council on Alternative Energies.
GridPoint, Inc., a leading clean tech company, is the pioneer of an innovative smart grid platform that aligns the interests of electric utilities, consumers and the environment through an intelligent network of distributed energy resources that controls load, stores energy and produces power. The platform applies information technology to the electric grid to enable distributed energy resources to perform the same as central-station generation. During peak periods, utilities efficiently balance supply and demand by discharging stored power from distributed generation assets or reducing customers' non-essential loads through demand response programs. Additionally, utilities effectively optimize baseload generation assets and relieve stress on T&D assets. The platform's modular, scaleable and upgradeable architecture enables utilities to deploy proven technologies, (e.g., load control devices and advanced batteries) while creating a practical path for integrating new technologies (e.g., plug-in hybrid electric vehicles (PHEVs) and fuel cells). For consumers, the platform provides protection from power outages, increases energy efficiency through online energy management and integrates renewable energy, paving the way for the commercial success of solar and wind energy sources. On the Net: www.gridpoint.com.