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VC-Backed Tangent Energy Adds to Board

Tangent Energy Solutions, which is backed by EnerTech Capital, has added three independent directors to its board: Nora Mead Brownell, Richard Grigg, and Donald Kendall. Grigg most recently served as President of FirstEnergy Utilities. Brownell is a former commissioner for the Federal Energy Regulatory Commission and the Pennsylvania Public Utility Commission. Kendall has a background in power and energy industry financing. Tangent Energy is based in Kennett Square, Penn.

PRESS RELEASE
Tangent Energy Solutions today announced the addition of three Independents to its Board of Directors. Each member was selected for his or her ability to support Tangent’s mission to maximize end-customer opportunities in the ongoing overhaul of the energy grid. Joining previous board members Tucker Twitmyer, Chairman; Scott Ungerer; and Dean Musser, President and CEO of Tangent are Nora Mead Brownell; Richard Grigg; and Donald Kendall.

“We are fortunate to have a highly involved Board whose knowledge and expertise will be invaluable in optimizing the economic opportunities that the smart grid is creating for C&I energy customers”

Tangent saves commercial and industrial (C&I) customers 10 percent to 20 percent in energy costs by innovatively managing on-site energy supply and demand. By combining energy efficiency technologies with clean generation assets, Tangent’s customers avoid premium pricing situations and create a hedge against rising energy costs. The on-site resources are provided at no capital cost, and the energy produced is sold to customers at a set rate through a long-term Power Purchase Agreement (PPA).

Each Board member is highly regarded for their energy industry knowledge and expertise in their respective sub-specialties. Tucker Twitmyer, managing director at EnerTech Capital, has successfully invested in alternative energy and smart grid companies for a decade. Nora Mead Brownell is a former commissioner for the Federal Energy Regulatory Commission and the Pennsylvania Public Utility Commission, and a recognized expert in U.S. energy regulations.

Richard Grigg most recently served as President of FirstEnergy Utilities, where he led several business units including Energy Delivery, Customer Service and FERC Compliance. He initially joined FirstEnergy as Executive Vice President and COO.

Donald Kendall has an extensive background in power and energy industry financing, where he has completed more than $20 billion in financing transactions. Scott Ungerer is a Founder and Managing Director of EnerTech Capital, and has been investing in energy and clean energy for nearly 20 years.

Leading the company is Dean Musser, former Founder, President and CEO of Enerwise Global Technologies. Among other successes, Musser transformed Enerwise into the largest demand response provider in PJM Interconnection’s region. (PJM Interconnection is a regional transmission organization that coordinates the movement of wholesale electricity in all or parts of 13 states – including Pennsylvania – and the District of Columbia.) Musser sold Enerwise to Comverge, which became the largest demand response provider in the country at the time.

“We are fortunate to have a highly involved Board whose knowledge and expertise will be invaluable in optimizing the economic opportunities that the smart grid is creating for C&I energy customers,” said Musser. “We’re excited and honored to have these board members join the Tangent team.”

A venture-backed company, Tangent was founded in 2009 by a management team that has been providing commercially successful energy innovations to C&I customers for 30 years.

Tucker Twitmyer resides in Wayne, PA; Scott Ungerer, Collegeville, PA; Dean Musser, Unionville, PA; Nora Mead Brownell, Alexandria, VA; Richard Grigg, Richfield, OH; and Donald Kendall, Houston, TX.