Largo Appoints Energy Sector Executive Stephen Prince As President Of Its Clean Energy Division
Largo Inc. (“Largo” or the “Company”) (TSX: LGO) (NASDAQ: LGO) is pleased to announce the appointment of Mr. Stephen Prince as President of Largo Clean Energy (“LCE”). Mr. Prince will be replacing Mr. Ian Robertson who was appointed as Interim President of LCE on July 22, 2021, while Largo conducted a formal search for a permanent replacement. Mr. Robertson will continue to serve as Co-Chair of the Company’s Board of Directors and Chair of its Clean Energy Committee.
Stephen is an accomplished energy sector executive with extensive experience in growing high-technology businesses, including those specific to long duration energy storage. He previously served on the board of Enerox CellCube, a pioneer in vanadium redox flow battery solutions headquartered in Austria and held the position of President of Centrica Business Solutions for North America where he led the deployment of distributed energy and power solutions across the United States and Canadian markets. Stephen has a wealth of experience drawn from executive and strategic roles at companies including Oracle Corporation, SAIC, Alliance Data Systems and Edison International as well as in growth stage technology businesses.
Paulo Misk, President and CEO of Largo, stated: “Stephen brings significant technical knowledge and has a demonstrated history of building and growing high-performing teams, both of which will be vital for Largo as we advance our strategy and address the growing need for long duration energy storage.” He continued: “His experience at a number of leading organizations renowned for the advancement of technology and energy storage solutions are essential aspects to Largo’s business model as we position the Company for continued growth.” He concluded: “I want to thank Ian for his contribution as Largo Clean Energy’s interim President while we conducted a formal search for a permanent replacement. I look forward to continuing to work with Ian and his many years of energy sector experience in his capacity as Co-Chair of Largo’s Board of Directors.”
Stephen has successfully turned around several energy and technology companies through strategic leadership and improved commercial execution. His expertise lies both in understanding the nuances of technology, deployment, and business models across the energy sector and having a deep appreciation of how shareholders and institutional investors can realize returns from the energy transition and journey to net zero. During his time as CEO of Younicos AG, a pioneer and global leader in energy storage, Stephen secured $50 million in growth capital and managed a subsequent company sale to FTSE-250 group Aggreko plc. Stephen holds a Bachelor of Science in Accounting from California State University (Fullerton) and a Master in Tax from Golden Gate University.
Stephen commented: “Largo offers a truly unique value proposition for energy storage customers, and I am thrilled to lead our clean energy division through its next phase of growth.” He continued: “I look forward to collaborating with my new colleagues to ensure continued success at the Company and to advance our mission of addressing the world’s need for long duration energy storage with Largo’s VCHARGE vanadium redox flow batteries.”
About Largo
Largo has a long and successful history as one of the world’s preferred vanadium companies through the supply of its VPURETM and VPURE+TM products, which are sourced from one of the world’s highest-grade vanadium deposits at the Company’s Maracás Menchen Mine in Brazil. Following the acquisition of vanadium redox flow battery technology in 2020, Largo is undergoing a strategic transformation to vertically integrate its world-class vanadium products with its VCHARGE vanadium battery technology to support the planet’s on-going transition to renewable energy and a low carbon future. Largo’s VCHARGE batteries are uniquely capable of supporting reliability and grid stability as electricity systems move away from fossil-fuel generation. VCHARGE batteries are cost effective due to a variety of innovations, enabling an efficient, safe and ESG-aligned long duration solution that is fully recyclable at the end of its 25+ year lifespan.
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