GreenVolts, Inc. (GreenVolts), a US-based developer of solar photovoltaics, has promoted Bob Cart to a fulltime position as executive chairman. Cart will also serve as chairman of the board of directors. He is the founder of the company. In this new role, Cart will focus on the strategic vision and direction of GreenVolts. It includes work on government relations and strategic alliances. GreenVolts also appointed Gary Beasley as president and chief executive officer (CEO) on an interim basis.
Currently, Gary Beasley is the chief financial officer of the company.
Cart founded GreenVolts in 2005 after several successful stints as a founder and CEO at a number of other ventures. He developed the technology and business plan behind GreenVolts after maintaining and troubleshooting commercially available solar panels used for his sea voyage from San Francisco to New Zealand.
The company’s innovative approach to concentrating photovoltaics has been well received within the solar industry. GreenVolts has a power purchase agreement with Pacific Gas & Electric for a two megawatt pilot facility in Northern California. GreenVolts has also raised $44 million to date, and recently announced an agreement with the National Renewable Energy Laboratory (NREL) to co-develop a next generation solar cell.
Beasley has served as GreenVolts’ Chief Financial Officer (CFO) for the past year. Previously, he was President and CFO for ZipRealty, Inc., where he helped develop and execute the company’s innovative business model while leading it through a successful IPO. Prior to that, Beasley was with KSL Resorts, a resort affiliate of Kohlberg Kravis Roberts & Co., where he helped negotiate and execute nearly $800 million worth of acquisitions. In addition, he holds a BA in Economics from Northwestern University and an MBA from the Stanford Graduate School of Business.
“We are at a natural evolution point in the maturation of this company, and it made sense to allow others to focus on the day-to-day operations of the company so that I could keep my eyes trained on the broader vision and future for GreenVolts,” said Cart.
“This new role is perfectly suited to Bob’s expertise and vision,” said Brian Hinman, a member of the GreenVolts board of directors. “We are excited that in this way he will be better able to share the GreenVolts story with a much larger audience. We are also very confident in Gary’s ability to help the company accomplish its agenda over the next stage.”
“I look forward to working closely with Bob and the rest of the team as we continue to make progress on his vision for GreenVolts,” said Beasley. “As a company, we will remain focused on making significant improvements to our technology, advancing our solar cell initiative with NREL, and building the most talented team in the industry.”