BOULDER, CO – February 9, 2012
ANDRIS CUKURS JOINS BOULDER WIND POWER AS CHIEF EXECUTIVE OFFICER
Industry Veteran Will Lead Commercialization of Boulder Wind Power's
Next Generation Direct Drive Wind Generation Technology
Boulder Wind Power today announced that Andris “Andy” Cukurs has joined the Company as Chief Executive Officer and a member of the Board of Directors. Cukurs most recently was CEO of Suzlon Wind Energy Corporation for over 7 years where he led Suzlon’s entry into North America and the deployment and support of over 2,500 megawatts of wind turbines. Prior to Suzlon, Cukurs was CEO of NEG Micon Wind Energy Corporation of North America through its merger into Vestas in 2004. Cukurs has over 26 years of executive experience focused on commercializing new technologies and scaling operations.
Boulder Wind Power is a privately held company that is commercializing a radically different direct drive, air core, permanent magnet generator for utility scale wind turbines. The Company is working with wind turbine manufacturers to integrate its patented generator and power converter designs and components into their next generation wind turbines. The technology will enable manufacturers to deliver wind turbines with a cost of energy 20% to 30% below existing geared and direct drive technologies. The technology also provides a common platform that can be scaled up for larger onshore and offshore wind turbines.
Sandy Butterfield, co-founder and former CEO of Boulder Wind Power, has assumed the role of Chief Technology Officer and continues as a board member. Working closely with Cukurs, Sandy will focus on advancing the Company’s technology leadership and intellectual property strategy and expanding OEM partnerships with wind turbine manufacturers around the world. Prior to the founding of Boulder Wind Power, Butterfield was with NREL’s National Wind Technology Center leading research for 25 years, including the last 10 years as Chief Engineer.
“My goal as founding CEO of Boulder Wind Power was to assemble a world class team, prove the technical and economic superiority of our breakthrough technology, raise capital to fund our development, and build partnerships with some of the best companies in the wind industry”, said Butterfield, “With those goals accomplished, it is the perfect time to add a seasoned business leader like Andy to the team to help us expand our organization and achieve global deployment of our product in partnership with wind turbine OEMs.”
Cukurs added “Boulder Wind Power has created a game changing approach that will enable the delivery of wind energy at a levelized cost competitive with fossil fuel sources. I’m excited to have the opportunity to build on the foundation that Sandy and team have created and establish the Company as a leader in delivering advanced technology to the wind industry.”
“Andy is the perfect person to lead the scale up of Boulder Wind Power into a world class wind technology company.” said Ron Bernal, Venture Partner with New Enterprise Associates and a Boulder Wind Power board member. “He brings an outstanding combination of leadership skills, entrepreneurial drive and wind industry experience. Attracting an executive of his caliber is further validation of the Company’s technology, team and market opportunity.”
“As a close strategic partner and significant investor in Boulder Wind Power, Molycorp is delighted that Andy is joining the team,” said Doug Jackson, Senior Vice President Business Development and Sales/Marketing of Molycorp and a member of the BWP board of directors, “Boulder Wind Power is poised to make a big impact on the wind industry with its unique low temperature, permanent magnet, direct drive generator design and the access that Molycorp can provide its customers to magnetic materials. Andy’s appointment will accelerate this progress.”
About Boulder Wind Power
Boulder Wind Power is a private company based in Boulder, Colorado that has developed a radically different direct drive wind turbine generator for utility scale electricity generation. The Company's next generation technology is simpler, more efficient and less costly to maintain than alternative wind turbine technologies. Boulder Wind Power's products will enable the production of electricity at a cost dramatically lower than existing offerings and competitive with fossil fuel energy production costs. The Company will be a technology provider to wind turbine manufacturers and supply its patented generator and electronics for incorporation into their products. Turbine design services will also be provided to enable Boulder Wind Power's customers to quickly develop and deliver next generation wind turbines incorporating the Company’s generator and electronics. BWP has raised $46 million in equity capital from investors including New Enterprise Associate (“NEA”) and Molycorp. For more information, visit www.boulderwindpower.com.
For more information:
Boulder Wind Power Contact
Peter Smith, +1 (303) 630-1405
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