SOLAR energy firm Sungrid has bolstered its board with the appointment of two new directors.
Australian Finance Group founding director Brett McKeon and former managing partner of PricewaterhouseCooper’s Perth office, Andrew Edwards, have joined the Fremantle-based manufacturer and supplier of solar panels as non-executive directors.
“AFG helped finance Sungrid products in the past 12 months and I like what they were doing,” Mr McKeon said.
“[Renewable fuels] are a good growth area – forecasts are at 20-30 per cent per annum – and it has federal as well as bipartisan support.”
Mr McKeon concedes that while his participation with an industry newcomer does pose some risks, he believes there is an onus on successful business people to contribute to the growth of new technologies.
Mr Edwards agreed, saying that Sungrid was an appealing choice, being in the renewable fuel space, and as a relatively new venture he has quite a lot to offer in terms of financial acumen.
“There is a need to try to move towards renewable fuels,” he said. “Sungrid has good values, a good business model and a clear approach to the technology – I’d like to see it grow to become a landmark company principally in WA, but also in the international market.”
While there are no short-term plans for a stock market float, neither Mr McKeon nor Mr Edwards ruled it out as part of the company’s long-term strategy once Sungrid “had two to three years more trading under its belt”.
Established in 2007, Sungrid has become one of Australia’s leading solar energy companies with operations in Australia, New Zealand, Taiwan, the UK and China, and expansion into the US and European markets planned for 2010.
