ACCELERGY NAMES VICTOR SPRENGER AS CEO
Former Engelhard Senior Executive Brings Extensive Energy,
Chemical and Electronics Industry Expertise to Company
Palo Alto, CA, January 22, 2007 - Accelergy, a leading research and development company offering high throughput solutions for accelerated discovery, development and commercialization of advanced catalytic materials, today announced that Victor Sprenger has joined the company as chief executive officer, succeeding founder and CEO, William Chen.
"This is an exciting time in the research and development community. Accelergy has transformed the R&D process, h elping companies extend their research capabilities to dramatically reduce time to market and increase competitive advantage,” said Sprenger. "I look forward to working with such an innovative, talented group of executives in leading the way toward future success.”
"Vic brings over 37 years of experience from the chemical and electronics industries to Accelergy, "stated Ira Ehrenpreis, an Accelergy board member and general partner of Technology Partners. "His extensive experience and his demonstrated leadership will be instrumental in carrying on our vision and leading the company to continued growth".
Sprenger was most recently Group Vice President and General Manager of Process Technologies Group at Engelhard Corporation, where he managed an $800 million catalyst business consisting of over 3,000 employees, 10 plants and four global research and development centers. Sprenger was also the Vice President of Marketing for Engelhard's refining group and led a restructuring effort that resulted in significant and sustainable success for the business. Prior to Engelhard, Sprenger was Vice President of Electronic Materials at Macdermid, Inc., and was a senior executive at both Hercules, Inc, and Colight/Cugher. Sprenger holds a bachelor's degree in industrial engineering from Virginia Polytechnic Institute and began his career with AT&T's Western Electric.
“Accelergy's vision has always been to fundamentally change and accelerate the research and commercialization process for advanced materials. We are extremely excited to have Vic lead our world class team to deliver greater value from advanced research, ”said Dr. Bernie Bulkin, former chief scientist of British Petroleum and board member of Accelergy.
About Accelergy Corporation
Accelergy Corporation is a research and development company collaborating with global strategic partners to accelerate the discovery, development, and commercialization of advanced materials utilized in the energy industry. Accelergy minimizes the risk and cost of product development, while maximizing speed to market of advanced materials by seamlessly integrating proprietary, high throughput systems with strategic research partnerships, knowledge generating software, and scaleable R&D assets. From enhanced catalytic materials development, to new technology platforms, to accelerated commercialization, Accelergy drives innovation. The company currently has offices in Palo Alto, California, and Shanghai, China and is backed by a group of leading investors, including Advent International, Goldman Sachs, Lux Capital, Mobius VC, Nth Power, Sequoia Capital China, and Technology Partners. For more information, visit www.accelergy.com.
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01/22/07