The co-founder of a Lexington, Kentucky-based technology company is stepping out of its top executive position.
Cameron Lippert, a co-founder of ElectraMet and former CEO, has been named as the company's chief innovation officer and will focus on developing new applications and new markets for ElectraMet’s products, according to a news release.
Keith Jacobs, who previously served as the company’s president and COO, has been appointed to the CEO position.
He was an advisor and investor in the company during its formative years, the release continued. Before joining ElectraMet, he was founder and CEO of Jacobs Automation which was acquired by Rockwell Automation.
“ElectraMet has a strong technology foundation and a rapidly growing commercial base around sustainable removal and recovery of metals from both process and wastewater streams," Jacobs said in the release. "Our strategy includes significant expansion of our sales channel, production capacity, and AI-based remote diagnostics through our ElectraLink service."
As KY Inno previously reported, PowerTech Water Inc., doing business as ElectraMet, moved to a new 26,000-square-foot facility at 140 Trade St. in Lexington earlier this year. The space allows for increased manufacturing capabilities, additional workforce and larger-scale systems.
The company closed on its oversubscribed Series B financing round led by HG Ventures in June 2021. That $6 million fundraise was among the largest venture capital investments in Kentucky last year.
ElectraMet, which develops technology to deliver clean water in a sustainable manner at a lower cost, was established in 2013 after its founders won Awesome Inc.'s 5 Across Pitch competition.
