SANTA BARBARA, Calif., July 11, 2022 (GLOBE NEWSWIRE) — H2 Clipper, Inc., an aerospace and various vitality firm creating uniquely succesful hydrogen-powered airships and end-to-end hydrogen infrastructure options, declares that Joe Massaquoi has joined the corporate as Chief Monetary Officer (CFO).
Massaquoi, who was an government at Boeing for over eight years, brings greater than 25 years of expertise as a world finance government and funding banker for growth-stage personal corporations, primarily within the aerospace/aviation, cleantech, and transportation sectors. As H2 Clipper’s CFO, Massaquoi will concentrate on strategic monetary planning and administration to arrange the corporate for a big capital elevate. It will convey the corporate nearer to commercializing its two patented, complementary hydrogen transportation options designed to ship inexperienced hydrogen from distant areas the place hydrogen will be most inexpensively produced to locations the place clear vitality is most wanted.
H2 Clipper founder and CEO Rinaldo Brutoco mentioned, “Joe shares our imaginative and prescient of a world working on clear, sustainable, and disruptively environment friendly renewable vitality. Throughout his illustrious profession, Joe has championed many disruptive applied sciences. His experience and trade expertise will probably be pivotal in serving to us obtain our aim of offering a quickly scalable hydrogen infrastructure resolution, which is important to addressing local weather change.”
Massaquoi mentioned, “I’m keen about innovation that connects individuals and improves our lives, and I’m very motivated by H2 Clipper’s mission to advance the hydrogen financial system worldwide. My skilled expertise has been with main corporations in each the vitality and aviation sectors — H2 Clipper unlocks the worth proposition of every in a singular and sustainable method.”
With an extended document of success in main key company initiatives, Massaquoi’s profession has targeted on securing the capital essential to speed up progress and drive M&A transactions from strategic inception to profitable integration. He has enabled over $37 billion in exterior capital infusion into personal and public corporations, guided the institution of seven strategic joint ventures, and executed over 40 M&A home and cross-border transactions. He has accomplished venture assignments in North America, Europe, Southeast Asia, and Sub-Saharan Africa.
Most not too long ago, as CFO of Growth Supersonic and Boeing’s Initium Aerospace, Massaquoi grew groups chargeable for monetary oversight and capital allocation and nurtured key investor and stakeholder relationships. Throughout his tenure at Growth, the corporate closed its largest-ever funding spherical, accomplished inaugural unbiased audits, and revamped the annual strategic planning course of. At Initium from 2019 – 2020, he secured shareholder funding to develop a sophisticated auxiliary propulsion system for industrial plane and ensured the profitable implementation of a brand new ERP system. From 2012 – 2019, Massaquoi served as Boeing’s Director of Company Growth, the place he led cross-functional groups by establishing a document variety of industrial joint ventures.
Massaquoi started his profession as an funding banker. As Govt Director in M&A at Credit score Suisse, he suggested utilities and telecom purchasers as these respective industries underwent transformative shifts from fossil fuels to renewables, and from wireline to broadband/wi-fi expertise.
Born in Sierra Leone, Massaquoi emigrated to the US for faculty and is a naturalized U.S. citizen. He holds an M.B.A. from Harvard Enterprise Faculty and a B.S. in physics from Morehouse Faculty. He has served on various not-for-profit group boards, most not too long ago as a Board Director for Purple Rocks Credit score Union, a Colorado-based monetary establishment with 16,000 members and ~$360 million in belongings.
Massaquoi is the most recent high-level government to affix the H2 Clipper crew, which incorporates internationally acknowledged and notable specialists in hydrogen, gas cell expertise, logistics, and company finance. Most not too long ago, government search chief Thomas J. Neff joined H2 Clipper’s Advisory Board. Different Board members embody Peter A. Georgescu, Chairman Emeritus of Younger & Rubicam, as Lead Board Director, and Ángel Gurría, famend worldwide diplomat and former OECD Secretary-Basic.
About H2 Clipper, Inc.
H2 Clipper, Inc. is the developer of high-speed, Pipeline-in-the-Sky™ hydrogen-powered airships for lengthy distance world transport that use no fossil fuels and have a bunch of economic and humanitarian functions, and of the brand new Pipe-within-a-Pipe™ “final mile” distribution system to ship pure hydrogen to finish customers. Since 2008, the corporate has made important strategic investments to analysis, develop, and patent core IP in fashionable airship design and regional options for supply of hydrogen, forming a world end-to-end hydrogen infrastructure.
H2 Clipper not too long ago accomplished the analysis and idea design phases on its disruptive fashionable airships utilizing the Dassault Systèmes 3DEXPERIENCE® platform. The airship-based Pipeline-in-the-Sky™ for transporting pure hydrogen to market additionally permits point-to-point supply of cargo and different payloads at speeds of 150+ miles per hour; a big benefit over truck, rail, ship, airplane, or pipeline.
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