|By Marketwired .||
|May 14, 2014 11:06 PM EDT||
SINGAPORE and JAKARTA, INDONESIA -- (Marketwired) -- 05/14/14 -- Navigat Group ("Navigat" or "the Group"), the South East Asian gas-to-power specialist, today announces the promotions of Arno Hendriks to Chief Executive Officer ("CEO") and of Willi Goldschmidt to Executive Chairman, a newly created role. These appointments take effect immediately, broadening the board of directors. Arno and Willi will lead the Group into the next phase in its development. As CEO, Arno will head the entire Group, with a focus on building it into a leading distributed power company in the region. Willi, as Executive Chairman, will continue to drive the high-level development of Navigat and ensure its businesses in Indonesia achieve their long-term potential.
With effect from 15 May 2014, the Group will also change its name to MAXpower Group Pte Ltd. ("MAXpower Group") to better reflect its future potential as an increasingly important distributed power plant developer in the South East Asian electricity market.
Arno Hendriks is currently Chief Financial Officer of the Group, a role he has held since joining in May 2010. During this time he led transformational financing deals and secured USD104 million equity investment from high profile investors, including Standard Chartered Bank ('SCB')* and seasoned Indonesian investors**. He raised USD270 million in debt finance in 2013, from co-lead arrangers SCB and OCBC. In addition to financing the Group's expansion and leading a 45 strong accounting and analyst team, Arno has also played a key role in the international development of the Group into Myanmar and Thailand and the build-out of MAXpower's distributed power business across the region.
Willi Goldschmidt, co-founder and CEO of the Group and subsidiaries MAXpower and Navigat Energy since their formation, will become Executive Chairman. Under his leadership, Navigat Energy installed its first GE Jenbacher ('GEJ') engine in Indonesia in 2004 and rapidly grew to become the leading distributor of GEJ engines in the region. In 2012 Navigat Energy was named GEJ's largest customer worldwide. MAXpower was launched in 2009 as a developer, owner and operator of gas-fired power plants in South East Asia, enabling the Group to build on its existing relationship with GEJ while dramatically increasing revenues and profit margins. To date, MAXpower has delivered 335MW of clean, scalable and affordable gas-fired power to some of the most remote and undersupplied parts of Indonesia and Myanmar. Led by Willi, the Group's revenue grew to c.US$ 200 million in 2013, demonstrating its fast ascension in the South East Asia distributed power industry.
Arno Hendriks said: "As CEO, my plan is to set the bar even higher and to grow MAXpower Group into the leading gas-fired distributed power provider in South East Asia. My objective is to deliver 1,000MW of clean, scalable and affordable gas-fired power to our core markets of Indonesia and Myanmar by 2016, to seek new markets for expansion, and to develop large gas fired projects in the region.
"I have every confidence that we will achieve our ambitious targets thanks to the strong support of our financing partners, General Electric, our customers and our exceptionally skilled and hardworking staff which will grow from 650 today to 1,000 by 2015.
"The success of our business model and approach has been clearly proven. We build scalable power solutions for undersupplied areas in record times. By bringing electricity to the most remote communities of South East Asia MAXpower Group also makes a considerable contribution to the region's economic and social development. Now all our efforts are focused on expanding our reach and scale."
Willi Goldschmidt commented: "I am extremely proud of what we have achieved over the past ten years, having begun as an engine distributor and evolved into an international integrated power company that services multiple markets across South East Asia.
"I am passionate about this business, and about the impact it has made on some of the most remote communities of Indonesia where we have supported PLN's efforts to bring the electrification rate to national levels."
Commenting on Arno's promotion to CEO, he added: "It is in full confidence that I cede the CEO role to Arno. He has been an exceptionally dynamic and result-focused executive over the past three years, and he is the right man to lead the Group into its next development phase."
*USD25 million investment from Standard Chartered Private Equity in December 2013, and USD58 million investment from Standard Chartered IL&FS Asia Infrastructure Growth Fund ("SCI Asia") in January 2012
** Mahanusa Capital and Gunung Sewu Group invested US$21 million on 5 May 2014
About Arno Hendriks
Arno Hendriks, CEO, is based in Jakarta, Indonesia. Prior to his appointment as CEO, Arno served as the Group's CFO for 4 years. Before joining the Group in May 2010, Arno served as a Managing partner of Asia Green Capital, a corporate finance company in Singapore. Prior to that, he spent four years as Managing Partner of a renewable energy/carbon company which he founded in 2004 with activities in Europe and South East Asia and four years as a Managing Director of a subsidiary of Petroplus International, a midstream oil and energy company. Arno started his career as an energy consultant and has over 20 years of international energy business experience, of which eight were in South East Asia. Arno holds a MBA degree from the Rotterdam School of management and a Master in Science degree from the University of Technology in Delft, The Netherlands.
About The Navigat Group
The Navigat Group (or the "Company") is SE Asia's leading distributed power plant developer, owner and operator, with 335MW of installed capacity and operations in Indonesia, Myanmar, Singapore and Thailand. It is also the second largest global distributor of General Electric ("GE") Jenbacher power equipment, having sold over 1,000MW of units through its distribution licenses in Indonesia, Singapore and Thailand. Navigat's top holding company is incorporated in Singapore, and the Company is headquartered in Jakarta.
The Group's main focus is the distributed gas to power market in SE Asia, and it typically pursues power projects of 5 - 100MW in size. Through its two major divisions, Navigat Energy (GE Jenbacher gas engine equipment sales and service) and MAXPower (IPP, BOOT and Rental projects), Navigat has the ability to pursue all distributed power opportunities along the value chain from equipment sales, to services, construction management, project development and asset ownership.
For more information: please visit Navigat /MAXPOWER website at www.maxpowergroup.com
Alastair Hetherington/ Marylene Guernier/ Shelly Tong
Tel: +852 3166 9886
Email: Email Contact
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Feb. 22, 2017 02:00 AM EST Reads: 12,916
"A lot of times people will come to us and have a very diverse set of requirements or very customized need and we'll help them to implement it in a fashion that you can't just buy off of the shelf," explained Nick Rose, CTO of Enzu, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Feb. 22, 2017 01:45 AM EST Reads: 5,984
As software becomes more and more complex, we, as software developers, have been splitting up our code into smaller and smaller components. This is also true for the environment in which we run our code: going from bare metal, to VMs to the modern-day Cloud Native world of containers, schedulers and micro services. While we have figured out how to run containerized applications in the cloud using schedulers, we've yet to come up with a good solution to bridge the gap between getting your contain...
Feb. 22, 2017 01:30 AM EST Reads: 3,461
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
Feb. 22, 2017 01:30 AM EST Reads: 4,069
"We host and fully manage cloud data services, whether we store, the data, move the data, or run analytics on the data," stated Kamal Shannak, Senior Development Manager, Cloud Data Services, IBM, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Feb. 22, 2017 01:15 AM EST Reads: 5,469
Information technology (IT) advances are transforming the way we innovate in business, thereby disrupting the old guard and their predictable status-quo. It’s creating global market turbulence. Industries are converging, and new opportunities and threats are emerging, like never before. So, how are savvy chief information officers (CIOs) leading this transition? Back in 2015, the IBM Institute for Business Value conducted a market study that included the findings from over 1,800 CIO interviews ...
Feb. 22, 2017 12:30 AM EST Reads: 1,586
Who are you? How do you introduce yourself? Do you use a name, or do you greet a friend by the last four digits of his social security number? Assuming you don’t, why are we content to associate our identity with 10 random digits assigned by our phone company? Identity is an issue that affects everyone, but as individuals we don’t spend a lot of time thinking about it. In his session at @ThingsExpo, Ben Klang, Founder & President of Mojo Lingo, discussed the impact of technology on identity. Sho...
Feb. 22, 2017 12:30 AM EST Reads: 5,277
"Operations is sort of the maturation of cloud utilization and the move to the cloud," explained Steve Anderson, Product Manager for BMC’s Cloud Lifecycle Management, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Feb. 21, 2017 10:45 PM EST Reads: 1,779
Due of the rise of Hadoop, many enterprises are now deploying their first small clusters of 10 to 20 servers. At this small scale, the complexity of operating the cluster looks and feels like general data center servers. It is not until the clusters scale, as they inevitably do, when the pain caused by the exponential complexity becomes apparent. We've seen this problem occur time and time again. In his session at Big Data Expo, Greg Bruno, Vice President of Engineering and co-founder of StackIQ...
Feb. 21, 2017 10:00 PM EST Reads: 8,737
"I think that everyone recognizes that for IoT to really realize its full potential and value that it is about creating ecosystems and marketplaces and that no single vendor is able to support what is required," explained Esmeralda Swartz, VP, Marketing Enterprise and Cloud at Ericsson, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Feb. 21, 2017 09:45 PM EST Reads: 630
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
Feb. 21, 2017 09:30 PM EST Reads: 660
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Feb. 21, 2017 09:15 PM EST Reads: 642
"We got started as search consultants. On the services side of the business we have help organizations save time and save money when they hit issues that everyone more or less hits when their data grows," noted Otis Gospodnetić, Founder of Sematext, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
Feb. 21, 2017 09:15 PM EST Reads: 5,629
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Feb. 21, 2017 09:00 PM EST Reads: 1,099
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his Day 2 Keynote at @ThingsExpo, Henrik Kenani Dahlgren, Portfolio Marketing Manager at Ericsson, discussed how to plan to cooperate, partner, and form lasting all-star teams to change the...
Feb. 21, 2017 08:30 PM EST Reads: 4,571