Press Release

Younicos transitions leadership to support next stage of growth

As part of the reorganization, James McDougall, who has led the company since March of 2014, has transitioned leadership to Stephen and has left the Group under amicable terms.
pv magazine

Storage specialists Younicos has reorganized its management to accelerate market delivery and growth. “Stephen L. Prince will take over as President and CEO from James McDougall,“ stated Mats Fagerlund, Younicos Group Chairman. “With a focus on customer solutions, streamlined operations, and a speed to market bias, the board welcomes Stephen in this new role.” As part of the reorganization, James McDougall, who has led the company since March of 2014, has transitioned leadership to Stephen and has left the Group under amicable terms.

Younicos continues its commitment to leadership in intelligent grid-scale energy storage solutions. The company is well capitalized for growth, having completed the recent $50 million fund raising in December 2015, including First Solar, Inc. (NASDAQ: FSLR), a global provider of solar energy solutions, and Grupo ECOS, a sustainable investment-focused private equity firm.

Stephen L. Prince states: “We are streamlining our business with a tighter focus on delivery of modular customer solutions. With the benefit of a solid balance sheet and our leading track record in energy storage power management and renewable generation integration, we can further focus our organization around delivery of energy services and solutions, leveraging our technology and expertise.”

Mats Fagerlund further stated, ”I would like to thank James McDougall for his many contributions to Younicos over the past years, including the strategic acquisition of the Xtreme Power assets and the vision and execution necessary to achieve our recent $50 million funding round. At this stage in a company’s evolution, it is natural to transition leadership and we now look forward to Stephen’s mandate to focus on meeting the growing market demands.”