Carnegie makes Board changes

Carnegie Clean Energy has appointed Terry Stinson and Mark Woodall as new non-executive directors to its Board of Directors, effective from Carnegie’s Annual General Meeting on November 15, 2017.

At the same time, the company’s current Chairman of Directors, Jeff Harding, will retire from his role as Chairman and from the Board of Directors and Stinson will be elected to Chair the Board.

Terry Stinson has over 25 years of executive leadership experience with innovation companies globally.

He was a formerly the Chief Executive Officer and Managing Director of Orbital Corporation Limited. In this role he led the Perth-based R&D and manufacturing group through a process of transformation and diversification achieving sustained share price growth.

He was previously a Vice President and General Manager at Siemens AG responsible for overseeing an international business across multiple sites. Terry remains a non-executive director of Orbital and is also non-executive Chair of Talga Resources.

Terry has a Bachelor of Business Administration (Magnum Cum Laude) from Marian University in Wisconsin, USA.

Mark Woodall has been a leader in the development and financing of renewable energy and clean technologies for nearly 25 years. He founded and led two specialist investment banking firms focused on the low carbon economy: Impax Capital (1994) and Climate Change Capital (2002).

He has been the adviser, investor or principal in over 90 cleantech transactions with total capital deployed of over US$4.5 billion. Mark has an MBA (Dean’s List) from Cranfield University and was an officer in the British Army.

Carnegie’s Managing Director, Dr Michael Ottaviano, said: “I’d like to thank Jeff Harding for his hard work, support and dedication to Carnegie over the past 8 years. He has been instrumental in the development of our CETO technology and in the diversification of the business through the acquisition of microgrid developer Energy Made Clean.

“I’d like to welcome both Terry and Mark to the Board as we embark on a new phase of growth across our wave, solar, battery and microgrid businesses. They both have an outstanding track record of success in business across renewable energy, finance, R&D, sales and manufacturing, that will be invaluable to Carnegie going forward.

“These changes are part of our ongoing program of business diversification and growth which involves Board renewal and cost reductions including recently achieving approximately $2.5 million in annualized cost savings from the combined Carnegie group.”