Neal Dikeman to further accelerate AETI’s renewable energy and M&A initiatives
HOUSTON, August 9, 2011 American Electric Technologies, Inc. (NASDAQ: AETI), today announced the appointment of Neal Dikeman to the company’s board of directors. AETI is a leading global provider of power delivery solutions for the traditional and renewable energy industries.
Neal Dikeman is a founding partner of Jane Capital Partners, a San Francisco-based, corporate advisory and merchant banking firm focused on clean technology and alternative energy investments.
Dikeman cofounded and was instrumental in launching five cleantech and alternative energy industry firms. Among them, Dikeman advised state-owned Meridian Energy Ltd on its entry into the solar sector, leading to the launch of its solar IPP business and the commissioning of the first utility scale photovoltaic solar electricity plant to connect to the California Independent System Operator’s (CAISO) transmission grid under California’s Renewable Portfolio Standards program. Dikeman and his firm also cofounded Zenergy Power plc, a leader in high temperature superconductor technology and utility-scale grid protection devices.
“Neal’s background in renewable energy, coupled with his expertise in mergers and acquisitions, and investment banking, will be invaluable to AETI as we accelerate our renewable energy initiatives,” said Charles Dauber, AETI Chief Executive Officer and President.
Dikeman is currently a director of Smart Wire Grid, Inc. and Carbonflow. He is chairman of Greenhome LLC, the original online ecostore. He has served as alternative energy advisor to a number of multinational companies.
Dikeman is also chief blogger and founder of CleanTechBlog.com, the premier website for commentary on clean technologies, carbon trading, alternative energy, smartgrid, and the green economy.
“AETI has leveraged its 65 years of traditional energy experience to create what I think is a utility-scale solar industry game-changer – the industry’s first 1000 Volt, 1MW integrated solar inversion station known as ISIS™,” said Dikeman. “I look forward to helping the AETI team accelerate their renewable business growth.”
Prior to Jane Capital, Dikeman headed mergers and acquisitions at Globalgate, Inc., an ecommerce holding company and parent company of Yellowpages.com. He was also an associate at Doyle & Boissiere LLC, a private equity firm focused on manufacturing turnarounds.
Dikeman began his career with the energy group of Bankers Trust working on M&A and financing projects in the oil and gas and energy service sectors. He holds a B.A degree from Texas A&M University.
American Electric Technologies, Inc. (NASDAQ: AETI) is a leading global supplier of power delivery solutions to the traditional and renewable energy industries. AETI offers M&I Electric™ power distribution and control products, electrical services, and E&I construction services, as well as American Access Technologies zone enclosures, and Omega Metals custom fabrication services. South Coast Electric Systems LLC, a subsidiary, services Gulf Coast marine and vessel customers.
AETI is headquartered in Houston and has global sales, support, and manufacturing operations in Beaumont, TX, Keystone Heights, FL,. and Bay St. Louis, MS. In addition, AETI has joint venture interests located in Xian, China; Macae, Brazil; and Singapore. AETI’s SEC filings, news and product/service information are available at http://www.aeti.com.
Forward Looking Statements
Except for the historical and present factual information contained herein, the matters set forth in this document, including statements regarding the anticipated results of our international joint ventures are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. There are many risks, uncertainties and other factors that can prevent the achievement of our goals or cause results to differ from those expressed or implied by these forward-looking statements including, without limitation, the risks inherent in doing business outside of the U.S. such as political, social and economic instability, currency fluctuations and conversion restrictions. These and other risks which may impact management’s expectations are described in greater detail in filings made by the Company with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise its forward-looking statements even if experience or future events make it clear that any of the anticipated results expressed or implied herein will not be realized.