News & Press Releases

PV Powered Announces New Executive Appointments
New management team will guide the company through fast growth

Bend, ORE - March 1, 2007

PV Powered, a leader in solar power generation technology, today announced the appointment of Gregg Patterson as CEO and Chairman of the Board, and Erick Petersen as Vice President of Marketing and Business Development, to manage its fast-growing business.

A 22-year veteran of Hewlett-Packard Corp., Patterson was most recently a Vice President and General Manager at HP. Over his career at HP, he's held numerous executive positions spanning worldwide manufacturing, R&D, and general management, leading businesses with annual revenues in excess of $1B in both the enterprise and consumer market segments.

Petersen recently held the title of Vice President and General Manager for Planar Systems' Commercial Business Unit, based in Beaverton, OR. He created the business strategy and assembled the team that grew this business from zero to $100M in three years.

"PV Powered is growing at an annual rate of more than 150%, and we've experienced some growing pains," said Scott Taylor, lead investor in PV Powered and member of the company's Board of Directors. "Gregg and Erick have had tremendous success growing and scaling diverse businesses, and will focus that expertise on greatly enhancing the quality and reliability of our products as well as the service and support that we provide to our customers."

"The PV Powered engineering team has produced the highest efficiency inverters on the market today," says Patterson. "But it will take more than just hitting high CEC efficiency numbers. Our mission is to deliver highest efficiency while quickly becoming the industry leader in reliability and support."

"The success of our business hinges on assisting our dealers and installers to be successful in this dynamic market," adds Petersen. "We are committed to help make the folks on the front lines who design and install our systems be successful by ensuring that they get consistently superior service and support from our company in addition to highly reliable products."

About PV Powered

Founded in 2003 and based in Bend, Oregon, the privately funded company designs, manufactures and markets the solar industry's most efficient photovoltaic solar inverter solutions. With thousands of its products in use nationwide, PV Powered brings together one of the most experienced design teams in solar power electronics.

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Media Contact:

Bob Patterson
MKTX, Inc.
Ph: 503-646-6589