Capstone Green Energy (NASDAQ:CGRN) Announces the Appointment of Ping Fu, Former CEO of Geomagic, to the Board of Directors

  • Sep 01, 2021
  • Capstone Turbine

Holly Van Deursen Retires from Capstone Board of Directors After Serving 14 Years

VAN NUYS, CA / ACCESSWIRE / September 1, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), a global leader in carbon reduction and on-site resilient green energy solutions, announced that Ping Fu was elected to its Board of Directors at the Annual Meeting of Stockholders on August 27, 2021. In addition, Ms. Fu will serve on the Capstone Green Energy Audit and Governance and Sustainability Committees. Ms. Fu currently serves on Boards of Directors for Live Nation Entertainment (LYV), The Long Now Foundation, and Burning Man. She also serves as an Advisor to the Prime Minister's Office of the United Arab Emirates (UAE).

Honored as Inc. magazine's 2005 Entrepreneur of the Year, Ms. Fu describes herself as an artist and a scientist whose chosen expression is business. In 1997, Ms. Fu co-founded Geomagic, a 3D imaging software company, which was acquired by 3D Systems in February 2013. Geomagic software enables the design and production of one-of-a-kind products and services at a cost less than that of mass production.

Before co-founding Geomagic, Ms. Fu was program manager of visualization at the National Center for Supercomputing Applications, where she was part of the team that initiated and managed the NCSA Mosaic software project that led to Netscape and Internet Explorer. She has more than 20 years of software industry experience in database, networking, geometry processing, and computer graphics.

Since 2010, she has served on the National Advisory Council on Innovation and Entrepreneurship (NACIE) at the U.S. Department of Commerce. She is the author of the business book Bend, Not Break and is the holder of five U.S. and international patents. Ms. Fu has received numerous awards for her leadership as an entrepreneur, including the Outstanding American by Choice award from U.S. Citizenship and Immigration Services (USCIS), the Ernst & Young Entrepreneur of the Year Award for the Carolinas, the Women's Leadership Exchange Compass Award and the Lifetime Achievement Award by Business Leader magazine.

"I would first like to thank Ms. Holly Van Deursen for her fourteen years of dedication and professional service to the Capstone Board of Directors, several of those years serving in the capacity of Chairperson. Ms. Van Deursen retired from the Capstone Green Energy Board on August 27, 2021. She assisted in the stewarding of the Company through some of its more challenging times, and her keen sense of leadership, successful governance, and oversight will benefit the Company for years to come," stated Robert C. Flexon, Chair of the Capstone Green Energy Board of Directors.

"We are extremely fortunate to welcome Ping Fu to the Capstone Board of Directors. Her impressive personal and professional accomplishments are nothing short of amazing, and her creativity and proven entrepreneurship skills will continue our drive forward to transform Capstone Green Energy into a global leader in carbon reduction and on-site resilient green energy solutions," added Mr. Flexon.

"As the Green Energy industry has become more relevant than ever, I am thrilled to join the Board of Directors at Capstone Green Energy to help guide the experienced team at Capstone to new heights," said Ping Fu. "As more businesses realize the need to look at alternative options for reducing their carbon footprint, lowering their emissions, having reliable sources of on-site power, all while reducing their energy costs, we want Capstone to be their go-to source," added Ms. Fu.

"I am delighted to welcome Ping to our Board of Directors as we are entering an exciting time for the Company's growth trajectory, complete with our new rebranding initiatives and an expanded product and service offering. Ping's robust experience and know-how as a CEO and widely respected entrepreneur will garnish a fresh perspective as we continue to elevate Capstone Green Energy as a global leader in energy as a service and new innovative products," stated Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. "Additionally, the Capstone Leadership team and I are eager to collaborate with Ping as we look to expand on our internal Environmental Social and Governance (ESG) initiatives and internal Capstone Cares program. At the same time, her tech background should be beneficial in optimizing our multiple digital B2B outreach platforms," concluded Mr. Jamison.