Active Power Names Mark A. Ascolese President and Chief Executive Officer
AUSTIN, TX -- (Marketwired) -- 09/30/13 -- Active Power (NASDAQ:
ACPW), manufacturer of uninterruptible power supply (UPS) systems and
modular infrastructure solutions, announced it has named Mark A.
Ascolese as president and chief executive officer. Mr. Ascolese will
assume his position effective Oct. 14, 2013. At that time, Mr.
Ascolese will replace Dr. Ake Almgren who currently serves as interim
president and CEO. Dr. Almgren will continue his role as chairman of
the company's board of directors. Mr. Ascolese will also serve on the
company's board of directors.
"We are excited to have an industry veteran like Mark on board," said
Dr. Ake Almgren. "We believe his track record and deep knowledge of
UPS products and mission critical markets will greatly benefit our
"Active Power has a highly differentiated product offering with a
convincing value proposition, a strong base of global customers, and
a solid operating platform from which to grow the business," said Mr.
Ascolese. "I'm excited about what the future holds particularly for
the new CSHD UPS as I believe it will position Active Power as an
even stronger participant in the market than it is today."
Mark Ascolese Executive Bio
Mr. Ascolese comes to Active Power with
extensive experience serving a variety of mission critical markets
including the data center market. Since 2006, Mr. Ascolese first
served as CEO and is currently Chairman of the Board of Power
Analytics, an electrical infrastructure enterprise software firm
based in San Diego, Calif.
Prior to Power Analytics, he served for more than 20 years in various
leadership roles at Powerware Corporation, a global provider of power
quality and backup power management products, which is now a part of
Eaton Corp. As president of Powerware from 2002 to 2004, Mr. Ascolese
put in place a new product development roadmap, established the
Powerware brand globally, and the business grew substantially.
Powerware was acquired by Eaton Corp. in 2004. Mr. Ascolese was
retained by Eaton following the acquisition to oversee the
integration of the company and lead all global sales and marketing
efforts, helping establish the supplier as a leader in the UPS space.
From 2000 to 2002, Mr. Ascolese served as senior vice president of
Business Development at Active Power. His career also includes 12
years at General Electric serving in a variety of management roles in
the company's service organization.
Mr. Ascolese earned a bachelor's of Science in Commerce from the
University of Louisville.
About Active Power
Founded in 1992, Active Power (NASDAQ: ACPW)
designs and manufactures uninterruptible power supply (UPS) systems
and modular infrastructure solutions that enable data centers and
other mission critical operations to remain 'on' 24 hours a day,
seven days a week. The combined benefits of its products' power
density, reliability, and total cost of ownership are unmatched in
the market and enable the world's leading companies to achieve their
most forward thinking data center designs. The company's products and
solutions are built with pride in Austin, Texas, at a
state-of-the-art, ISO 9001:2008 registered manufacturing and test
facility. Global customers are served via Austin and three regional
operations centers located in the United Kingdom, Germany, and China,
that support the deployment of systems in more than 50 countries. For
more information, visit www.activepower.com.
Cautionary Note Regarding Forward-Looking Statements
may contain forward-looking statements that involve risks and
uncertainties. Such statements include those related to the action
greatly benefitting our business, having a convincing value
proposition, a strong base of global customers, and a solid operating
platform from which to grow the business, and that Active Power will
be an even stronger participant in the market than it is today. Any
forward-looking statements and all other statements that may be made
in this news release that are not historical facts are subject to a
number of risks and uncertainties, and actual results may differ
materially. Specific risks include delays in new product development,
product performance and quality issues and the acceptance of our
current and new products by the power quality market. Please refer to
Active Power's filings with the Securities and Exchange Commission
for more information on the risk factors that could cause our actual
results to differ from our forward looking statements.
Active Power and CleanSource are registered trademarks of Active
Power, Inc. The Active Power logo and PowerHouse are trademarks of
Active Power, Inc. All other trademarks are the properties of their
SOURCE: Active Power, Inc.
Active Power Investor Contact:
Active Power Media Contact:
Senior Public Relations Manager
Press spacebar to pause and continue. Press esc to stop.