PHOENIX (PHO): Photon Energy announces the hiring of the country head for its Italian operations - raport 6

The management board of Photon Energy announces that as of 1 February 2011 its fully-owned subsidiary Photon Energy Italia s.r.l. signed an agreement with Andreas Schmidt to manage the company's activities on the Italian market. Given the importance of the Italian market in Photon Energy's expansion strategy in 2011 and beyond this is a key hire as the company intends to replicate its business model covering the entire value chain and life cycle of photovoltaic power plants in the Italian market.

Andreas Schmidt worked with Photon Energy as a consultant since October 2010 in order to fine-tune the company's market-entry strategy, to identify office space and to select the first hires for Photon Energy's operations which will be based in Milano Assago.

Andreas Schmidt was born in Germany in 1963 and has been involved in various aspects of the renewable energy industry since the early 1990s mainly in Slovenia, Croatia and Italy where he has been permanently based since 1997. Next to his experience with wind and solar thermal applications Andreas has gained a thorough understanding and extensive hands-on experience with photovoltaic projects in Italy. Next to various projects Andreas realized as his proprietary investments and for his private clients from 2006 to 2009 he worked in the Italian subsidiary of S.A.G. Solarstrom AG, a leading German integrated photovoltaic company listed on the Frankfurt Stock Exchange, where he was responsible for project development and sales.

“In Andreas Schmidt we found a strong manager with the right experience and skill set to ensure that Photon Energy will be able to hit the ground running in the fast growing but competitive and tricky Italian market. With Andreas' support we are confident that we will be able to bring our company's experience and strengths to their full bearing to the benefit of our Italian customers, partners and shareholders", added Michal Gärtner, Photon Energy's Chairman of the Board of Directors and Chief Executive Officer.

Osoby reprezentujące spółkę:
Michal Gärtner - Chairman of the Board of Directors
Georg Hotar - Vice-chairman of the Board of Directors