UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
March 24, 2008
Active Power, Inc.
(Exact name of registrant as specified in its charter)
| Delaware | 000-30939 | 74-2961657 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) | (IRS Employer Identification No.) |
2128 W. Braker Lane, BK12
Austin, Texas 78758
(Address of principal executive offices, including zip code)
(512) 836-6464
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Effective on March 24, 2008, Jim deVenny was appointed to the Board of Directors (the “Board”) of Active Power, Inc., a Delaware corporation (the “Company”). Mr. deVenny is not initially expected to serve on any committees of the Board. Mr. deVenny will receive compensation from the Company for his service on the Board on the same terms as other non-employee members of the Board.
The press release issued by Active Power on March 25, 2008 announcing Mr. deVenny’s appointment to the Board is attached hereto as Exhibit 99.1 and is incorporated in this Item 5.02 by reference.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits |
| 99.1 |
Press Release, dated March 25, 2008, regarding Jim deVenny’s appointment to the Board of Directors of Active Power, Inc. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ACTIVE POWER, INC. | ||||||
| Date: | March 25, 2008 | By: | /s/ John K. Penver | |||
| John K. Penver | ||||||
| Chief Financial Officer | ||||||
EXHIBIT INDEX
| Exhibit No. |
Description | |
| 99.1 |
Press Release, dated March 25, 2008, regarding Jim deVenny’s appointment to the Board of Directors of Active Power, Inc. |
Exhibit 99.1
Active Power Appoints James deVenny to Board of Directors
Seasoned Industry Veteran Brings More than 15 Years of Data Center Design and
Development Experience to Company Board
AUSTIN, Texas (March 25, 2008) – Active Power, Inc. (NASDAQ: ACPW), inventor and manufacturer of the most energy-efficient critical power systems in the world, today announced it has appointed James E. deVenny III to its board of directors. deVenny was most recently the co-founder, president and CEO of Dallas-based Dataside LLC, a provider of outsourced data center and network services. deVenny brings extensive business and technology experience to Active Power’s board of directors, specifically in the data center and power management/quality markets.
“We are looking forward to Jim’s participation and contributions as a member of our board of directors,” said Jim Clishem, president and CEO for Active Power. “As a successful businessman and entrepreneur, Jim brings a set of unique qualifications to our board. These include his expertise in the data center space as an operator and consumer of critical power systems. This experience coupled with his years of marketing power systems at International Power Systems gives him valuable perspective as a consumer and supplier in our marketplace.”
With more than 15 years of industry experience, deVenny has dedicated much of his career to the design and development of mission critical data centers and telecommunications sites. Prior to Dataside, deVenny co-founded Computex Support Service, a data center design build contractor. deVenny also served as vice president of Marketing and Sales at International Power Machines, a manufacturer of critical power systems, where he supported such end users as the New York Stock Exchange and NASA. In addition, he has served on the board of several start-ups including Lumenate, a privately held company that delivers technical consulting services focused on business continuity.
“I am excited to have an opportunity to be a part of the Active Power team,” said James deVenny. “The timing could not be better for a company offering energy efficient and green power solutions to a data center market that is growing faster than the infrastructure can keep up with. Quite simply, Active Power is in the right place at the right time. I look forward to bringing my expertise and perspective to the board of directors for the firm.”
# # #
About Active Power
Active Power (NASDAQ: ACPW) provides efficient, reliable and green critical power solutions and uninterruptible power supply (UPS) systems to enable business continuity in the event of power disturbances. Founded in 1992, Active Power’s flywheel-based UPS systems protect critical operations in data centers, healthcare facilities, manufacturing plants, broadcast stations and governmental agencies in more than 40 countries. Active Power also offers CoolAir, the only solution that provides both backup power and backup cooling. With expert power system engineers and worldwide services and support, Active Power ensures organizations have the power to perform. For more information, please visit www.activepower.com.
Cautionary Note Regarding Forward-Looking Statements
This release may contain forward-looking statements that involve risks and uncertainties. Any forward-looking statements and all other statements that may be made in this news release that are not historical facts are subject to a number of risks and uncertainties, and actual results may differ materially. Specific risks include delays in new product development, product performance and quality issues and the acceptance of our current and new products by the power quality market. Please refer to Active Power filings with the Securities and Exchange Commission for more information on the risk factors that could cause actual results to differ.
Active Power, CleanSource and CoolAir are registered trademarks of Active Power, Inc. The Active Power logo and PowerCenter are trademarks of Active Power, Inc. All other trademarks are the properties of their respective companies.
| Active Power Investor Contact: |
Active Power Media Contact: | |
| John Penver |
Lee Higgins | |
| Chief Financial Officer |
Public Relations Manager | |
| 512-744-9234 |
512-744-9488 | |
| jpenver@activepower.com |
lhiggins@activepower.com |