Noria Energy Appoints Ron Stimmel as Chief Executive Officer to Lead the Company’s Next Phase of Strategic Growth and Innovation

/EIN News/ -- SAUSALITO, Calif., July 09, 2024 (GLOBE NEWSWIRE) -- Noria Energy, a leading floating solar PV (“FPV”) developer, is pleased to announce the appointment of Ron Stimmel as the company’s new Chief Executive Officer. With two decades of experience in the clean energy sector, Stimmel will spearhead Noria’s growth and strategic partnerships, and hone Noria’s operations.

Stimmel was previously an Operating Partner at a $3B climate-focused growth equity fund where he advised the fund and portfolio companies on corporate strategy, product development, commercial partnerships, and government affairs. His previous experience includes 10 years at Amazon where he built most of the company’s renewable energy programs across global operations – now the largest in the world. At Amazon, Stimmel also started two internal climate tech startups and the Energy vertical within Amazon’s Corporate Business Development team, driving partnerships with Fortune 100 companies toward mutual climate goals.

“Noria is at the forefront of FPV’s vast opportunity – we are experienced, differentiated, and full of talent – and I am very excited for what we can accomplish together for our customers,” said Stimmel.

Greenbacker Development Opportunities Fund I, LP (“Greenbacker”) closed a growth equity round with Noria in 2021. Noria’s mission is to develop resilient, renewable energy systems that generate long-term value for businesses and communities. By partnering with land-constrained customers, Noria offers sustainable energy solutions that are designed for the long term, including deep expertise in FPV applications and technologies.

“We are thrilled to welcome Ron to Noria,” said Quinn Pasloske, Principal at Greenbacker Development Opportunities, and Noria board member. “Ron's strategic vision and expertise will be invaluable as we continue to grow and evolve in the floating solar market. We are confident that under his leadership, Noria is well positioned to grow and drive innovative advancements.”

About Noria Energy

Founded in 2018 and headquartered in Sausalito, CA, Noria Energy is a pioneer and leader in the rapidly growing FPV industry in both project development and technology R&D. Noria develops FPV and other solar projects to serve a variety of customer segments, including hydropower, water utility & water treatment, agriculture, community solar programs, mining, and other commercial and industrial customers to help accelerate the transition to clean energy. Noria is passionate about renewable energy technologies and their positive impact on the environment. For more information, visit https://noriaenergy.com.

Greenbacker Development Opportunities Fund I, LP (“Greenbacker”)

Greenbacker Development Opportunities is a middle-market private equity strategy that invests in growing sustainable infrastructure platforms serving high-value markets across the US. The strategy is managed by Greenbacker Capital Management, LLC. For more information, please visit https://greenbackercapital.com/greenbacker-development-opportunities.

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Connie Zhang
MC2
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