Power Film Solar

Investor Information

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Business Description

PowerFilm, Inc. is a developer and manufacturer of thin, flexible solar panels based on a proprietary production process. PowerFilm is based in Ames, Iowa, in the United States.

PowerFilm was founded in 1988 by Dr Frank Jeffrey and Dr. Derrick Grimmer, both former 3M research physicists, with a combined 67 years of experience in semiconductor and solar energy research and development. Since 1988, the Company has focused on developing thin film solar panel technology and products and custom engineering capabilities to meet specific application needs of the customers. Elements of the Company's technology and manufacturing process includes the use of: a durable, flexible plastic substrate; roll-to-roll manufacturing to minimize handling costs; amorphous silicon; and printed interconnects to automate the cell connection process.

Board of Directors

  • Dr. Frank Jeffrey, Co-Founder and Chief Executive Officer
    • Has worked in the semiconductor and solar energy field since 1972
    • Before founding PowerFilm, was a Senior Physicist at 3M (1982 - 1988) and prior to that a Research Physicist and Program Manager at the US Department of Energy's National Renewable Energy Laboratory and a Process Engineer at Texas Instruments Inc
    • PhD in Physics from Iowa State University
  • Dr. Derrick Grimmer, Co-Founder and Non-Executive Director
    • Has worked in the semiconductor and solar energy field since 1975 and has retired from PowerFilm as a Principal Scientist
    • Before founding PowerFilm, was a Research Specialist at 3M, a Research Engineer at New Mexico Solar Energy Institute and Staff Member at Los Alamos National Laboratory, Solar Energy Group
    • PhD in Physics from Washington University in St. Louis
  • Rick Brimeyer, Non-Executive Chairman
    • Rick Brimeyer has extensive experience in process improvement of manufacturing operations.
    • Mr. Brimeyer is the President of Brimeyer LLC, an independent management consulting firm located in Ames, Iowa, which guides organizations to higher performance by focusing on process improvement.
    • Prior to founding his own company, Mr. Brimeyer enjoyed a 25-year career at Sauer-Danfoss, a worldwide leader in the design, manufacture and sale of engineered hydraulic and electronic systems and components, used primarily in mobile equipment.
    • His career includes more than 22 years in leadership positions in engineering, operations and continuous improvement.
    • While at Sauer-Danfoss, he served as the Six Sigma Master Black Belt for the company's North American plants and was the lead Lean practitioner for the North American Propel division.
    • Mr. Brimeyer is the author of 5S Leader's Field Guide: Practical Advice for Establishing a Healthy 5S Culture Within Your Organization.

Audit Committee

The Audit Committee has a primary responsibility for monitoring the quality of internal control and ensuring that the financial performance of the Company is properly measured and reported on and for reviewing reports from the Company's auditors relating to the Company's accounting and internal controls. Currently the full board serves as the Audit Committee.

Remuneration Committee

The Remuneration Committee determines the terms and conditions of service, including the remuneration and grant of options to Directors and senior management under the 2006 Stock Option Plan and determination of suitable performance criteria for such options. Currently the full board serves as the Remuneration Committee.

Country of Incorporation and Main Country of Operation

PowerFilm, Inc. is incorporated in the state of Delaware in the United States. The company's main country of operations is the United States, although it has global commercial activity.

Private Company

PowerFilm, Inc. is a private company.

Independent Auditor

RSM McGladrey, Inc.

400 Locust Street, Ste. 640
Des Moines, IA 50309-2372
U.S.A.

Last Update: September 24, 2015

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