Xtreme Power Promotes Alan J. Gotcher, Ph.D., to President and Chief Executive Officer

Carlos Coe, Ph.D., moves into the role of Chairman of XP’s Board of Directors

KYLE, Texas--(EON: Enhanced Online News)--Xtreme Power Inc., developer and manufacturer of Dynamic Power Resource™ digital power management and energy storage solutions, today announced the promotion of Alan J. Gotcher, Ph.D., to president and chief executive officer and a member of Xtreme Power’s board of directors. Xtreme Power co-founder and former CEO Carlos Coe, Ph.D., will now serve as chairman of the company’s board, a position that enables Coe to focus on guiding strategic initiatives as the company expands its global market share.

“We anticipate our business to more than double in 2012 as we develop additional long-term customer partnerships, expand our international presence, create new product and service solutions and build on the strengths of our workforce.”

“Alan was the clear choice to take the reins and lead Xtreme Power into its next phase of growth. His deep technical knowledge of the energy sector and exceptional leadership skills make him the perfect candidate to take us to the next level in 2012 and beyond,” said Carlos Coe, chairman of Xtreme Power. “We’ve achieved significant growth year after year, and I am excited to step into a role that will allow me to offer the strategic guidance necessary to ensure that Xtreme Power remains at the forefront of the power management and energy storage market.”

Gotcher joined Xtreme Power in 2011 as chief technology officer. He brings to the company more than 25 years of C-level experience in prominent materials science organizations, including energy storage and power product manufacturer Altair Nanotechnologies Inc. (Nasdaq: ALTI), where he served as president & CEO. Gotcher will continue in his role as CTO at Xtreme Power while the company seeks a successor.

“Xtreme Power has made significant strides in just a few years, and it is a pleasure to lead this company and its talented team in this period of rapid expansion,” said Alan Gotcher, president & CEO of Xtreme Power. “We anticipate our business to more than double in 2012 as we develop additional long-term customer partnerships, expand our international presence, create new product and service solutions and build on the strengths of our workforce.”

Xtreme Power’s Dynamic Power Resource technology is a fully integrated, real-time power management and energy storage solution that works to manage existing power resources and integrate renewable energy into the electric grid. Among the company’s commercial projects in operation and in development are multiple installations integrating renewable resources onto the grid, including the world’s largest storage-integrated wind farm in partnership with Duke Energy.

“Dr. Gotcher was unanimously selected as Xtreme Power’s next CEO by our board of directors, led by Chairman Coe. We are fortunate to have two strong leaders to guide the company toward unprecedented growth in the U.S. and abroad,” said Pat Wood, Xtreme Power board member and former FERC chairman. “This is an exciting time for Xtreme Power. To date, the company has secured more than $90 million in contracts from leading renewable developers and utilities around the world, and we are confident our new executive team structure will secure Xtreme Power’s long-term market leadership.”

About Xtreme Power

Xtreme Power provides scalable, real-time digital power management and energy storage system product and service solutions that decouple the rigid electric grid, enabling a more sustainable, reliable and cost-effective electric grid network. Xtreme Power’s Dynamic Power Resource™ product combines customized milli-second controls and high-efficiency power electronics with the energy storage capabilities of the company’s proprietary PowerCell™ technology. By providing power management with electric storage system product solutions, engineered specifically to the needs of its customers, Xtreme Power enables multiple participants and technologies to simultaneously operate on the electric grid providing new flexibility that has never before been possible. Xtreme Power is a US company backed by investors SAIL Capital Partners, Bessemer Venture Partners, The Dow Chemical Company, Fluor Corp., BP Alternative Energy, Dominion Resources, POSCO ICT, SkyLake & Co. and Spring Ventures, LLC.

For more information, please visit www.xtremepower.com.