Enhanced Investments - Financial Portal

Portable Electric Appoints Darren Z. Ready as New CFO

Published: 2021-12-15 20:00:00 ET

Ready joins Portable Electric's as CFO
Ready previously worked with Loop Energy and was integral to closing their Series A and B rounds with Cummins and led Loop's $100M IPO on the TSX in 2021
Ready's announcement comes a week after Portable Electric announced Scott Hardy as its CEO

VANCOUVER, BC, Dec. 15, 2021 /PRNewswire/ - Portable Electric Ltd., a Vancouver-based cleantech company and global leader in clean energy power stations, is pleased to announce the appointment of Darren Ready as the company's new Chief Financial Officer and Corporate Secretary, effective December 1, 2021. The news comes just a week after Portable Electric announced the appointment of Scott Hardy as the new CEO.

Ready joins Portable Electric from Loop Energy (TSX: LPEN), where he served as Chief Financial Officer, driving the company's financial strategy and performance since 2016. Ready played a key part in identifying and developing Loop Energy's joint venture in China. He was also integral to Loop Energy's Series A and B rounds of funding with Cummins (NYSE: CMI) and its $100M IPO on the TSX in February 2021. In his role at Portable Electric, Darren will help shape a growth-related finance strategy together with the Portable Electric's engineering and sales teams, to help transition the company from a hardware specific company into a data-driven, integrated hardware and software mobile power platform.

"I am very excited to welcome Darren to our talented and dynamic executive leadership team," said Scott Hardy, CEO and Board Director of Portable Electric. "His financial expertise and his exceptional leadership qualities will be an invaluable asset to our Portable Electric team as we accelerate our growth, and transition the business toward a multi-dimensional mobile power solution provider, therein supporting the operating needs of our growing list of customers such as PG&E and Netflix."

"I am pleased to have Darren join our leadership team," said Rick Fitzgerald, Chairman of Portable Electric. "His extensive experience in leading the financial operations of cleantech and healthcare businesses – as well as driving operational changes – will make an immediate impact as we work together in establishing Portable Electric as a global leader in clean, sustainable mobile power."

"Since Mark Rabin founded the company, Portable Electric has been a pioneer in the mobile power category," said Darren Ready. "As someone who has watched the company from afar, I was especially drawn to the company once I had a chance to lean in and really learn what they have successfully built. Having raised capital for some innovative technology companies, it is especially exciting to have established customers, revenues and a robust sales pipeline to combine with a unique IP strategy to take to the market and locate the right business and finance partners for the next phase of the company's business plan."

About Portable ElectricPortable Electric (PE) is a Vancouver-based cleantech company and manufacturer of the VOLTstack e-Generator, a clean energy alternative to traditional gas and diesel generators. In the last five years, these power stations have quietly charged past idling gas and diesel generators to become an industry leader in sustainability with silent, emissions-free electric generators. From small, nimble units capable of navigating disaster relief sites, to powerful systems capable of fast charging EVs, powering construction sites, or holding up Hollywood film shoots, Portable Electric sits at the forefront of the fast-growing mobile energy revolution.

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SOURCE Portable Electric Ltd.

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