DURHAM – FlexGen Power Systems is expanding its leadership team, hiring two industry veterans to executive roles.
The Durham-headquartered company, which closed a $100 million Series C funding round earlier this year, has hired Diane Giacomozzi as its chief operating officer and Hugh Scott as its chief technology officer, according to a company statement.
Diane Giacomozzi, COO at FlexGen
In addition to the $100 million fundraise in July, the company has raised a total of $250 million in the prior 13 months.
“Energy storage is positioned for record growth with the energy transition being further accelerated with the passage of the Inflation Reduction Act of 2022,” the statement reads.
According to the company’s statement, expanding the firm’s leadership team is a part of laying a foundation for further growth.
Hugh Scott, FlexGen CTO. (FlexGen image.)
“We are thrilled to welcome Diane and Hugh to the FlexGen executive team. Their talent and experience are a perfect fit for our business and our mission to speed the important and timely energy transition, said Kelcy Pegler, CEO of FlexGen, in the statement. “Diane and Hugh have demonstrated the ability to design and deliver the future grid with energy storage at the center of it.”
Giacomozzi, who will be the firm’s COO, comes with more than 35 years of experience in corporate operations, business development, and strategic planning, previously holding executive positions at MasTec and Quanta Services.
Scott, who will be the firm’s CTO, is the co-founder of the renewable energy company Together Solar and has served in other technology executive roles previously.
Startup Spotlight: FlexGen is powering up with $100M, ‘tremendous growth curve’
Preparing for growth
“Our pipeline, our contract backlog, and our revenue all on a tremendous growth curve,” Pegler told WRAL TechWire earlier this year. “Highlighted by demand for resiliency, energy independence, and flexibility of the grid.”
FlexGen anticipates further growth of the industry, and Pegler noted that the company has prepared for growth, as well. For example, FlexGen will soon open an innovation lab in Durham to develop and showcase new products and technologies in the battery storage sector.
“Everyone is thinking about energy independence, energy storage, and an overall intelligence in battery supply,” Pegler told WRAL TechWire in July.
The new hires to the company’s executive team will propel the company forward, according to the statement.
Durham’s FlexGen raises $100M Series C to power ongoing growth, projects
