Perpetua Power Source Technologies, Inc. (“Perpetua”) announced that Thomas G. Labrecque, Jr. Managing Partner of NextSteps Capital has been appointed to the company’s Board of Directors, effective August 28, 2015. Mr. Labrecque brings over 20 years of management and investment experience, has served on several boards, and currently is on the board and investment committee for New York Road Runners. “Perpetua is one of those companies with the right technology at the right time,” said Tom Labrecque. “I look forward to being part of a team that has the potential to change the way industrial companies use wireless sensors.”
“I am delighted to welcome Tom to our board of directors,” said Jon Hofmeister, Perpetua’s President. “He brings exceptional experience and perspective from his previous management roles. Our board is looking forward to the insights Tom will provide related to our strategy and operations as we continue to focus on delivering value for our customers and growing Perpetua.”
Perpetua Power Source Technologies, Inc. exists so that customers can achieve the benefits of long-life power. Using energy harvesting technologies, Perpetua products function like renewable batteries that last as long as the products they power. Customers are able to avoid battery replacements and line power wiring costs, increase usage rates, and expand into a wider range of environments and applications. Perpetua’s plug-and-play Power Pucks® power the world’s leading wireless sensors and are available for purchase from Perpetua, as well as directly from Emerson and GE. Applications range from powering pressure, temperature, vibration, and other sensors within industries spanning metallurgy, chemical processing, power plants, oil and gas, and many others. Perpetua is continually innovating and thrives on bringing the benefits of long-life power to the market. For additional information, please visit www.perpetuapower.com.
About NextSteps Capital
NextSteps Capital is an investment firm that provides capital to lower middle-market companies to fund their growth opportunities. NextSteps Capital funds growth equity, facilities expansion, business acquisitions and combinations that might include debt along with equity for companies that operate in diverse industry sectors. Ideal portfolio companies are well-positioned for growth and generally have annual revenues between $5 million and $60 million. NextSteps typically invests between $3 and $20 million and may co-invest with partners.