FOR IMMEDIATE RELEASE
David Meyers replaces retiring company founder Dennis Reid. Meyers will build on a recent $70 million investment to accelerate the company’s growth in hydrogen economy markets
Valencia, Calif. – July 11, 2022 – H2scan, a world leader in hydrogen sensing solutions for the energy, industrial and emerging hydrogen markets, today announced that its current Chief Operating Officer, David Meyers, was named the company’s President and Chief Executive Officer. He replaces Dennis Reid, company founder and current President and CEO, who is retiring.
- H2scan’s innovative hydrogen sensing products, made in the USA, are used to improve electrical distribution reliability in the power transformer market, and are ideal for monitoring and measuring hydrogen concentration in fuel cells, electrolyzers, and hydrogen distribution pipelines. The sensors also serve in a wide variety of hydrogen economy applications to reduce carbon emissions. The company’s sensors offer market leading accuracy and affordability with no consumable parts, with certain models being self-calibrating for up to 10 years. H2scan’s hydrogen sensors can transform a customers’ ability to operate safely in a low carbon world.
- H2scan raised $70 million, securing growth capital to underpin the company’s rapid expansion. H2scan will use the funds raised to expand manufacturing, expand its auto calibration capabilities, add additional sales offices around the world, and enhance H2scan’s marketing capability as well as funding further R&D for the next generation of disruptive and breakthrough products.
Dennis Reid states, “Dave joined us in February 2022, as COO and now in his new role as CEO, we are confident that he will lead us into a future focused on building on our current strength in the transformer division, while accelerating our efforts in the ever-expanding hydrogen economy. When I started H2scan I had seven employees, including my wife and me. I have been blessed with tremendous talent in all departments and unbelievable loyalty as we have developed H2scan into a global company. Dave has the right background and skill set to take H2scan to an even higher level. I look forward to continuing with the company in a much reduced non-management role to assist management and sales.”
Dave Meyers background:
- Meyers has been COO since February 2022. In that time, he has worked with key company leaders looking at ways to scale production, build R&D and engineering capability, and prepare for this vote of confidence from the investment community.
- Meyers has deep experience with H2scan through his contributions as a board member for five years and his support for its product development activities while working for Altran, a global engineering services company. He joined the H2scan board in 2017 after leading an investment as Altran’s North America Vice President of Corporate Development.
- As COO, and subsequently the General Manager of Altran’s Innovative Product Development business, he managed the company’s energy, industrial, aerospace and life sciences engineering services business units. H2scan retained Altran to accelerate the development of its application specific integrated circuit (ASIC) that enabled the Gen 5 sensor. His team also supported the development of the company’s Automated Sensor Manufacturing (ASM) system to improve production efficiency and capacity to meet future sales growth.
- Prior to Altran, Meyers held executive and various business and development roles at startups and large companies in the semiconductor, life sciences, defense and space industries. As COO of a fabless semiconductor company, he ran operations, built its global sales organization and was responsible for technology licensing and strategic partnerships. Also, in these roles he developed significant experience in the sensor market by supporting the development of a variety of MEMS sensors and high performance sensors for aerospace applications. Meyers has a Bachelor of Science in Mechanical Engineering from the University of Delaware where he is a distinguished alumnus.
David Meyers states: “I could not be more excited about the opportunity to provide CEO leadership at H2scan as I believe we are well positioned to take advantage of the tremendous growth within the power transformer monitoring market, given our proven track record with leading OEMs and a growing list of end users. Additionally, we expect to be a major solutions provider to every aspect of the emerging Hydrogen Economy, from process control, to metering to safety assurance. I thank the board and Dennis for this opportunity and for establishing a strong foundation of people, technologies, and funding to build our future. H2scan is well positioned to help energy providers be more resilient and ensure safety and effectiveness of their hydrogen decarbonization investments.”
About H2scan Corporation
H2scan was founded in 2002, and has its headquarters, sales, production and marketing staff in Valencia, California. The company’s Gen 5 technology provides the most accurate, tolerant and affordable hydrogen sensors for a wide range of industrial leak detection and process gas monitoring markets including control systems, safety monitoring and alarm systems.
H2scan sensors are also used for electrical distribution reliability and are ideal for measuring hydrogen concentration in fuel cells, electrolyzers and the hydrogen distribution pipelines to reduce carbon emissions.
H2scan’s customer base includes some of the largest manufacturing enterprises in the world including ABB, Siemens, GE Energy, Qualitrol, DOD, ExxonMobil, Shell, Chevron, Proctor & Gamble and more.
For more information, please visit http://www.h2scan.com.