Innovolt Announces Jeff Spence as President and Chief Operating Officer
Innovolt announces Jeff Spence as the company’s President and Chief Operating Officer. Spence is charged with extending the company’s reach, both geographically and via increased market penetration. Since joining Innovolt in January 2011, the company has secured several notable customer deals among the world’s largest brands, a trend that Spence wants to continue. As an example, Innovolt is now licensing its technology in markets from consumer electronics, medical technology, cable and satellite to HVAC and control systems, setting the company up for additional growth in 2012.
Spence joined Innovolt after more than 15 years in executive and corporate development roles growing worldwide companies in the energy, finance, telecommunications and technology sectors across five continents and dozens of countries. Spence has counseled policy groups including the United Nations, the European Union, and a host of other government and business groups on subjects ranging from economic development, entrepreneurialism, sales and marketing to government intervention and monetary policy.
"Jeff’s leadership skills and business acumen are unmatched," said Jim Mitropoulos, CEO of Innovolt. "His experience aligns perfectly with the expansion goals of the company. Jeff is relentlessly innovative as evidence by his vision for the Innovolt technology and its impact and place across multiple marketplaces to serve end users and electronic equipment designers."
Since 2009, Innovolt has successfully provided proven electronics protection for hundreds of millions of dollars of installed systems, mainly in the office equipment industry. Innovolt works with top Fortune 500 companies, including: Ricoh US, Ricoh Canada, Toshiba, Konica Minolta, and ECi OMD to increase the reliability of their equipment and to optimize service to their end users. Innovolt’s technology solves a host of unique power problems that most businesses and consumers are not aware of but are paying for through shortened electronics lifespan and decreased product reliability.
"Innovolt’s competitive advantage is in its affordability, functionality and applicability. We see this technology quickly serving a wide stretch of industries. The Innovolt electronics protection effectively shields electronics in ways that haven’t been done before by UPS or surge and filtering technology," explained Spence. "By first focusing on the office equipment segment as the proving ground for our technology, distribution, service and economic modeling, we expect to see our Q4 annualized run rates to increase by an order of magnitude on a year-over-year basis. We expect a similar growth pattern in 2012 and continued expansion into the consumer, medical, cloud and appliance market-segments will have an exponential impact on financial growth over the next several quarters."
