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 12, 2009
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 12, 2009, Robert Greenberg was appointed to the Board of Directors (the “Board”) of Active Power, Inc., a Delaware corporation (the “Company”). Mr. Greenberg is not initially expected to serve on any committees of the Board. Mr. Greenberg 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 17, 2009 announcing Mr. Greenberg’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 17, 2009, regarding Robert Greenberg’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 17, 2009 | By: | /s/ John K. Penver | ||
| John K. Penver | ||||
| Chief Financial Officer | ||||
EXHIBIT INDEX
| Exhibit No. |
Description | |
| 99.1 |
Press Release, dated March 17, 2009, regarding Robert Greenberg’s appointment to the Board of Directors of Active Power, Inc. |
Exhibit 99.1
Active Power Appoints Robert Greenberg to Board of Directors
Technology Veteran Brings More than 30 Years of Global IT Expertise
and Leadership to Company Board
AUSTIN, Texas (March 17, 2009) – Active Power, Inc. (NASDAQ: ACPW) today announced Robert Greenberg, CIO and vice president for AGCO Corporation, one of the world’s largest manufacturers and distributors of agricultural equipment was elected to Active Power’s board of directors.
“Robert is an outstanding individual, bringing a wealth of experience and knowledge in IT strategy and execution; infrastructure management; and leadership and organization development,” said Jim Clishem, president and CEO, Active Power. “His more than 30 years in executive and management roles at global blue chip organizations will help Active Power execute against its commercialization strategy of building brand; building distribution; building for less; and building for innovation.”
Prior to joining AGCO in January 2009, Greenberg served as vice president and CIO at Nissan Americas, Inc., a subsidiary of Nissan Motor Ltd., from 2004-2008. In this role, Greenberg oversaw all information technology systems and services for the Americas. Prior to this, he was vice president of Information Technology at Avaya Inc., directing all applications and Internet services on a global scale. In addition to his stints at Nissan Americas and Avaya, Greenberg spent five years at Dell Computer serving in various director roles and more than 16 years at Exxon Corporation. While at Dell and Exxon, he garnered a wealth of international experience working in the Asia Pacific region.
“Active Power is clearly in the right place and the right time – as it offers the most efficient and reliable critical backup power solutions in the marketplace today,” said Robert Greenberg. “The fact the company has experienced a revenue increase of approximately 175 percent from 2004-2008 is testimony to the fact Active Power is and will continue to gain market share. I feel privileged to join this dynamic team and look forward to working closely with Active Power’s board during a very exciting time for the company.”
# # #
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. 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 PowerHouse are trademarks of Active Power, Inc. All other trademarks are the properties of their respective companies.
| Active Power Investor Contact: | Active Power Media Contact: | |
| Debbie Laudermilk | Lee Higgins | |
| Investor Relations Manager | Public Relations Manager | |
| 512-744-9411 | 512-744-9488 | |
| dlaudermilk@activepower.com | lhiggins@activepower.com | |