finance

Heat storage company appoints seasoned investor as chair



Heat storage company Sunamp has appointed seasoned American business leader Hank Torbert as its new chair, underlining the Scottish company’s international expansion drive.

Torbert has a background as a banker, investor and entrepreneur within the industrial and energy sectors.

The announcement comes as the East Lothian-based business closes the final part of its Series A fundraising round and confirms a 250-fold increase in the order book for its thermal battery technology.

Torbert is an specialist in how new technologies – such as artificial intelligence, robotics, nanotechnology, transmission technologies and synthetic biology – are changing the industrial landscape and how they impact strategy and investment decisions.

He has been active in the launch of several businesses in the cleantech, mobility and utility tech sectors.

Currently president of Alta Max, a US-based provider of services and products for defence industries, he is also the chief executive of The Frontier Conference, a network of industrial innovation leaders focused on next generation technologies.

In addition, Torbert is an advisory board member for several entities including the Small Business Capital Formation Advisory Committee, established by the US Securities and Exchange Commission and the Center for Innovation Commercialization in Florida.

After graduating from New York’s Columbia University, Torbert began his career at JP Morgan Chase as an investment banker focused on mergers and acquisitions, before taking on the role of chief operating operator at Broadcast Capital.

He then operated his own firm for over a decade, investing in and advising energy, technology and transportation.

Sunamp chief executive Andrew Bissell said: “This is a very exciting appointment for Sunamp, and Hank is a very welcome addition to the board.

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“His extensive track record in growing businesses, along with his cross-sector board level experience and entrepreneurial flair is already proving very valuable to us.

“Hank is aligned with our commercial aims, as well as our environmental ambitions to cut carbon emissions arising from heating and cooling in homes, businesses, industrial processes, and the automotive sector globally.”

Torbert added: “I was attracted to Sunamp because of its great technology, environmental credentials and global ambitions.

“Despite the global pandemic, Sunamp’s hard-working team has generated sustained growth.

“I look forward to, with the support the management team and board, leading Sunamp in its efforts reach its ambitious goals.”

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