WALPOLE, Mass. -- The board of directors of Acumentrics Holding Corporation ("Acumentrics", the "Company") today announced the appointment of John C. Cerulli as Chief Executive Officer. In this capacity, John will continue to be responsible, as CEO, for the activities of Acumentrics, Inc., the Company's wholly owned power management subsidiary, as well as responsible for the Company's interest in its majority owned subsidiary, Atrex Energy, Inc. ("Atrex").
Acumentrics is also pleased to announce a $2-million commitment to Atrex, supported by a new investment round from its existing shareholders and internal resources.
"I'm very excited for this opportunity and strongly believe in the outlook for both Acumentrics and Atrex Energy. With continued support from our strong shareholder base, both companies are well positioned to execute their respective strategic plans,"
said Mr. Cerulli.
Cerulli has over 20 years' experience in financial and operational management in both the public and private sectors. Most recently he served for 11 years as Chief Financial Officer of Acumentrics Holding Corporation, and five years for Source Squared Enterprises, the leading shareholder of Acumentrics. He received his B.S. in Accounting from Bentley University in 1993 and has served on the Board of Directors for several not-for-profit charitable organizations.
The Board of Directors of Acumentrics and of Atrex are also pleased to announce the appointment of Cary Bullock as CEO of Atrex."We're grateful for this renewed commitment from our principal shareholder. Atrex Energy provides a compelling value proposition for reliable primary power in remote (off grid) markets and we are committed to delivering this value to our customers," said Mr. Bullock.
Bullock is a 40-year veteran of clean energy companies, serving in a variety of top-level leadership positions. He was CEO of ThermoEnergy Corporation for three years, retiring in 2013 and continuing as a Board member. He has a B.S. and M.S. from MIT in Electrical Engineering and a B.A. in Physics from Amherst College.
James Rosenfield, Chairman of Acumentrics, said:
"The Board and shareholders of the Company are committed to the success of both Acumentrics and Atrex Energy, and are pleased to provide this support for Atrex Energy and to back the leadership of John Cerulli at Acumentrics, and Cary Bullock at Atrex."