Cyrq Energy of Salt Lake City has appointed industry veteran Mark Sudbey as CEO. Cyrq Energy is renewable energy company that operates five geothermal facilities and a solar facility in Nevada, California and Utah.
Cyrq also announced that interim CEO Chip Schneider will return to his role as chief financial officer.
Sudbey brings decades of experience in leading energy infrastructure companies, most recently as CEO of Alpha Generation at its launch where he managed a domestic power portfolio with nearly $2 billion in annual revenue. He was CEO for three ArcLight Capital energy portfolio companies over the past decade and previously held senior leadership roles at Reliant Energy, Orion Power Holdings and PG&E.
“We welcome Mark to Cyrq and look forward to having him lead our next phase of growth” said Paul Caudill, chairman of Cyrq’s board of directors. “We are confident in the role that geothermal will play in meeting the increasing electricity demands being placed on utility providers across the western interconnect. The future for Cyrq remains positive. On behalf of the board, I also want to thank Chip Schneider for his leadership over the last seven months as interim CEO and we are excited to have Mark and Chip working together going forward.”
“I look forward to partnering with Chip and the rest of the senior leadership team as well as the board of directors to build upon and expand the capabilities that Cyrq has today,” said Sudbey. “My key goals will be to achieve safe operational excellence and create value across our portfolio. I feel that Cyrq is uniquely positioned to play a key role in helping deliver secure, zero emissions and reliable energy to our customers.”