QBotix Adds New CEO, Continues Momentum

Solar industry leader Mike Miskovsky joins QBotix to accelerate growth

MENLO PARK, Calif., Sept. 11, 2014 -- QBotix, manufacturer of industry-leading, robot-enabled dual-axis solar tracking systems, today announced that industry veteran Mike Miskovsky has joined the company as its new CEO. Miskovsky assumes the role from company founder Wasiq Bokhari, who will remain active on the management team and serve as Executive Chairman. The appointment of Miskovsky - until recently the CEO of PV mounting systems leader Zep Solar - marks QBotix's continued momentum in commercializing the use of advanced robotics to deliver the most cost-effective tracking systems for commercial- and utility-scale PV projects.

"We are thrilled to add Mike to our executive team," said founder Wasiq Bokhari. "With more than 80 megawatts under supply agreement, we are gaining significant commercial traction with developers, EPCs and solar power plant owners worldwide. Mike's experience and leadership at two industry-leading solar manufacturers gives him the perfect background to drive our next phase of growth."

"QBotix is the most innovative company in the large-scale solar project space right now, and I'm excited to be part of its growing momentum," said Miskovsky, who will also be joining the company's Board of Directors. "QBotix technology is where solar is heading - reducing costs while increasing energy production to deliver superior lifecycle economics. The experience of the last four years has shown me that the balance-of-system (BOS) is where project costs are being driven down most; QBotix is perfectly positioned to lead that charge."

Miskovsky's breadth of business and leadership experience spans more than two decades, with a strong history of managing solar product and BOS companies. In his previous tenure at Zep Solar, he led the company through rapid customer and revenue growth, achieved dominant market-share in residential mounting systems, brought the company to profitability and negotiated the landmark 2013 sale of the company to industry leader SolarCity. Prior to Zep Solar, Miskovsky was President of the U.S. division of global PV module manufacturing giant Canadian Solar and co-founder/CEO of solar PPA-financing company CleanSource Power. Before entering the solar industry, he held senior roles at a number of technology startups and finance companies. Miskovsky is a Princeton graduate and received his MBA from Dartmouth's Amos Tuck School.

QBotix has installed systems in the U.S. and Japan and is actively developing additional projects in the U.S., Europe, Latin America and Australia. In May, QBotix announced $12 million in funding with global energy leaders E.ON and Iberdrola (Inversiones Financieras Perseo, S.L.) joining existing investors, New Enterprise Associates, Firelake Capital Management, Draper Nexus and Siemens Ventures.

About QBotix:
QBotix creates rugged, intelligent, mobile robots for the company's optimized dual-axis tracker system that dramatically improve project economics for commercial- and utility-scale solar power plants. Using the new paradigm of solar robotics, the QBotix Robotic Tracking System (RTS) delivers improved yields of up to 45%, project cost savings of up to 20%, and increased installation flexibility.

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