News
Serveron Appoints Roy Kravitz Vice President, Engineering
HILLSBORO, Ore.-(Business Wire)-April 19, 2007 - Serveron Corporation, a leading provider of smart grid technology to prevent power system blackouts from transformer failure, today announced the appointment of Roy Kravitz as Vice President, Engineering.
Mr. Kravitz joins the company following its recent additional funding of $5 million, which was raised to more aggressively pursue "smart grid"-oriented technology and services that complement its existing product line.
"Roy Kravitz brings superior engineering and managerial experience to Serveron. As we expand to meet the electric energy industry's increasing demand for smart-grid technology services and solutions, Roy's knowledge and skills, will be significant assets for Serveron," said Bart Tichelman, chief executive officer of Serveron Corporation
Mr. Kravitz brings over 30 years of managerial engineering experience to Serveron. Most recently, he served as senior manager for RadiSys Corporation, which develops and produces embedded computing solutions for manufacturing automation, medical, transportation, telecommunications, and test equipment for the commercial, enterprise, and telecommunications service provider systems markets. In this position, he was a key contributor to the company's increase in size from a $34 million to $250 million company. Previously, Mr. Kravitz was an engineering manager for Intel Corporation.
Preventing Blackouts
More than a dozen major electric utilities in the United States are committed to new voluntary transformer-monitoring standards to help prevent transformer failures, which are a major source of blackouts. On-site transformer monitoring helps electric utilities manage their expensive transformer assets more reliably, operate them with a greater margin of safety, enabling them to minimize or delay the costs of repairing or replacing these valuable assets. The cost of purchasing new power transformers can range from $500,000 to more than $6 million each.
About Serveron
Reliability of the worldwide electrical grid is paramount, and Serveron asset condition assessment and management tools are critical to utilities in improving grid reliability while optimizing the management and economics of their asset base. Smart-grid technology provider Serveron develops, delivers and supports on-line transformer products, as well as diagnostic services, that are helping restructure the way utility assets are managed. Headquartered in Hillsboro, OR, Serveron serves electric power providers in the United States and around the world. For more information, please visit: www.serveron.com.
