Pivot Power has appointed former Green Investment Group senior vice president Richard Braakenburg as its new chief financial officer (CFO).
Braakenburg replaces Cynthia Dubin who has recently been appointed to the board of the Competition and Markets Authority.
The battery operator says it plans to build a 2.25 GW network of grid-scale batteries and a private wire infrastructure programme to support the adoption of rapid electric vehicle (EV) charging stations across the UK.
Braakenburg’s role will include leading the team in raising capital for the company’s investment programme, he will also work to ensure a “strong financial management” capability throughout the construction and operational phase of the company’s 45 battery storage sites.
Speaking of his appointment, he said: “I am excited to be securing funding and delivering a robust financial set up that will underpin the 2.25 GW grid-scale battery network while also creating meaningful private wire infrastructure focused on the electrification of transport, which will give me a more direct role in delivering on the energy transition.”
Matt Allen, Pivot Power’s chief executive, added: “Richard’s broad and deep knowledge, unequivocal leadership capabilities and global exposure made him a remarkable candidate for CFO, and most importantly, he shares our vision and values and will bring a tireless strength and focus to the business at an incredibly exciting time.
“I would like to sincerely thank Cynthia for her incredible hard work, dedication and support during her time with the business and wish her all the best in the next stage of her extraordinary career. Needless-to-say, she will always be a part of the Pivot Power family.”
Pivot says its £1.6 billion battery storage deployment and EV charging infrastructure programme will jointly provide infrastructure to support the rapid adoption of EVs and underpin clean air policies.
As well as this it says it will also introduce the “essential flexibility” into the UK’s energy system to accommodate for the increased forecast of intermittent renewable generation.
The company added that planning permission has so far been approved for the first five battery storage sites, with an aim to have ten batteries operational by the end of 2020.