Ocean Renewable Power Company Inc. (ORPC) announces that current director Stuart Davies will succeed Chris Sauer as the company’s chief executive officer.
Sauer’s retirement is effective Jan. 17, and Davies will begin his new role Jan. 20.
Under Sauer’s leadership, ORPC developed its proprietary marine renewable energy technology from an initial concept to a proven renewable energy product, the RivGen® Power System. The first commercial RivGen Power System is operating in Igiugig, Alaska.
“I am thrilled to turn over the reins of ORPC to such a passionate, intelligent and intuitive professional,” Sauer said. “Stuart is a sophisticated leader who will expand ORPC’s business development and sales focus in the U.S., Canada and Chile, and position the company for growth and profitability.”
Davies joined ORPC’s board of directors in 2019 after several years of advising and investing in the company. “I have had the great pleasure of conversing almost daily with Chris over the past 18 months,” said Davies. “And I share his passion and enthusiasm for ORPC and look forward to his continuing involvement as an advisor to the ORPC team in his retirement.”
Davies most recently has invested in several early stage companies whose products either reduce carbon emissions or improve the environment. Before that, Davies was chief investment officer of Global Opportunistic Credit and an investment committee member of Sankaty Advisors, where he worked for 17 years. During that time, he served on the boards of more than 20 companies and was a board observer for dozens of other companies in the energy, industrial manufacturing, food, consumer product, retail and packaging industries. Davies graduated from Yale University with a B.A. in economics and from the MIT Sloan School of Management with an MBA.
Founded in 2004, ORPC has grown to 30 employees in three countries on two continents. The company’s mission is to improve people’s lives and their environment through sustainable energy solutions, and it is the only company to have built, operated and delivered power to a utility grid from a tidal energy project (in Maine) and to a remote community grid from a river energy project (in Alaska).