Capstone Turbine Corp. has appointed Robert Powelson to its board of directors. Powelson joins the board of the Van Nuys natural gas-powered microturbine manufacturer as the chief executive of the National Association of Water Cos. in Washington, D.C. Prior to joining the association, Powelson served as one of five members of the Federal Energy Regulatory Commission, an agency that regulates the sale and transmission of electricity and natural gas and the transportation of oil by pipeline. The agency also reviews proposals to build interstate natural gas pipelines, natural gas storage projects, and liquefied natural gas terminals. Capstone Chief Executive Darren Jamison called Powelson’s experience in public policy an asset for the company. “Rob is an experienced energy executive and highly regarded thought leader in the U.S. energy industry with vast contacts and knowledge of the U.S. shale industry,” Jamison said in a statement. Powelson also served on the Pennsylvania Public Utility Commission and the board of the National Association of Regulatory Utility Commissioners. Powelson said he looked forward to working with the board on behalf of Capstone, its customers, and its shareholders. “I am very impressed by Capstone’s innovative technology, dedicated distribution network and relentlessly creative management team,” Powelson said in a statement. Capstone announced the appointment earlier in the week On Friday shares of Capstone (CPST) closed up nearly 3 cents, or more than 3.3 percent, to 82 cents on the Nasdaq.
Former Federal Energy Regulator Joins Capstone Board
