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EnerTrac Names New CEO and Closes Series A-1 Funding

EnerTrac said Thursday that it has named George Dannecker as CEO. He will be replacing Steve Owens, who has been appointed CTO of EnerTrac. Recently, Dannecker served as founder of Vette Corp. Also, EnerTrac, which is backed by Milestone Venture Partners, City Light Capital and Harbor Light Capital Partners, has received an undisclosed amount in Series A-1 funding from its existing investors. Based in Hudson, NH, EnerTrac is a provider of low-cost sensors.

PRESS RELEASE

Hudson, NH (PRWEB) July 18, 2013
EnerTrac, a leader in the rapidly emerging Machine-to-Machine (M2M) market announces George Dannecker as Chief Executive Officer. Dannecker has more than 35 years of multinational management experience in the technology sector. He has held management positions of increasing responsibility with Acme Electric Corporation, Gould, Inc. and Aavid Thermalloy, was cofounder Concord Communications and Teraconnect and founder of Vette Corp. and Coolcentric.
Most recently Dannecker founded Vette Corp, which became a global leader in the field of electronic thermal management with global sales and manufacturing operations in North America and China. He sold the company last year to The Heico Companies. Prior to founding Vette Corp. Dannecker was founder, CEO and president of TeraConnect, Inc. a venture-funded spinout from Lockheed Martin, commercializing optical transceivers used in telecommunications and data communications. Dannecker was also President and COO of Aavid Thermalloy, where he globalized manufacturing, expanding operations into England, Singapore, Taiwan and China. Spanning the company’s pre-IPO emergence as a player in the semiconductor marketplace, to a 2,500-employee manufacturing business with 13 global sales and manufacturing facilities, Dannecker achieved revenues of more than $250 million.
Dannecker earned his undergraduate degree in Engineering and Management from Clarkson University and graduate degree in Business Administration from Southern New Hampshire University.
In addition, the current investors have agreed to put additional growth capital into the company to help accelerate its current growth trajectory.
Commenting on the appointment, former CEO Steve Owens said, “Closing this round of venture financing and bringing George on board as CEO will allow us to take EnerTrac to the next level. I am really delighted to be handing over responsibility to someone with George’s capabilities. He brings years of executive management and technology industry experience to EnerTrac. George’s leadership together with the new round of funding will significantly extend EnerTrac market penetration and fuel our growth. It’s a very exciting time for Enertrac and the industry and I know George will add tremendous value to EnerTrac and our ability to serve our customers.”
Steve Owens, formerly EnerTrac CEO, will assume responsibility as Chief Technology Officer, guiding EnerTrac research and development bringing new products and services to market.
About EnerTrac:
EnerTrac, Inc. is a leader in the rapidly emerging Machine-to-Machine (M2M) marketplace. As the developer and leading provider of low-cost sensors, the company’s SaaS based monitoring service helps America’s most efficient and environmentally-conscious businesses improve profits by managing and measuring the status of widely distributed assets — businesses such as residential fuel oil and propane tank automation, water and gas metering, commercial lubrications distribution, solar irradiance, and many more.
©2013 EnerTrac, All rights reserved. Information is subject to change without notice. EnerTrac assumes no liability for errors that may appear in this document. For additional information, visit http://www.enertrac.com or contact EnerTrac at +1.603.821.0003.
Enertrac is headquartered in Hudson, NH (USA).