BrightNight Adds Lenard Tessler to Its Advisory Board

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Feb 14, 2023, 12:48 ET

Deep Experience in Capital Markets and Operations

WEST PALM BEACH, Fla., Feb. 14, 2023 /PRNewswire/ -- BrightNight, the next generation and global renewable power producer built to deliver clean and dispatchable solutions, today announced the newest member of its Advisory Board: Lenard Tessler, the retired Vice Chairman of Cerberus Capital Management. Cerberus is one of the world's leading private investment firms. Mr. Tessler joins a deep and experienced advisory board providing strategic insights and operational guidance to the company as it rapidly scales its renewables buildout.

Mr. Tessler brings an extensive background in investing, growing, and operating successful global companies. At Cerberus, Mr. Tessler led some of the firm's largest and most significant transactions and served on the board of directors of several portfolio companies, including Albertsons, Ally Financial (formerly GMAC), Chrysler Financial, Keane Group, Inc (now NexTier Oilfield Solutions, an industry leading well completion and production services company) and Avon. Mr. Tessler was also responsible for the acquisition, restructuring, and public offering of the Austrian bank BAWAG, the largest public offering in Austrian history. His financial expertise, business experience, and deep knowledge of markets helped the firm drive strong growth with a successful portfolio of operating companies.

"I've had the opportunity to invest in several successful businesses across many industries in my career. They all share similar characteristics: a talented team, a clear vision, a differentiated approach – and the drive to change the status quo," Mr. Tessler said. "Martin Hermann and the BrightNight team check all those boxes, and I am honored to share my experience and energy expertise to help them succeed in doing something very important: delivering clean energy at scale. I am also pleased to join an esteemed Advisory Board consisting of exceptional leaders with whom I will have the benefit of working with in helping BrightNight lead a new era in renewable energy."

With renewables poised to provide record amounts of power over the next ten years, BrightNight is setting a new standard for renewable power solutions. In contrast with standard intermittent renewable energy, BrightNight's hybrid renewable power solutions provide customers with industry leading dispatchability and reliability without compromising safety or profitability. BrightNight is building and developing a global portfolio of 23 GW, with a focus on the U.S. and Asia Pacific. It recently announced a differentiated 100 MW solar-wind hybrid project in the Indian State of Maharashtra for commercial and industrial customers.

"Lenard brings an exceptional background and set of experiences that will support BrightNight as we grow and succeed. He knows the energy space and has led transformational transactions across many industries," BrightNight CEO Martin Hermann said. "Lenard is able to see and structure solutions to the most complex and demanding business challenges, and his core principle of 'leaving the world a better place' aligns with our purpose-driven mission of delivering more affordable, reliable, and cleaner power globally."

In addition to his business success, Mr. Tessler has also been recognized for his philanthropic work. In 2017, he received the Horatio Alger Award, given to "admirable leaders who have succeeded despite facing adversity, and who are committed to higher education and charitable efforts in their local communities." Mr. Tessler and his wife, Fern, are actively involved with the New York Presbyterian Hospital, where Mr. Tessler is a trustee and member of the Investment and Finance Committees, and The Whitney Museum of American Art, where his wife is President of the Board of Trustees.

BrighNight's Advisory Board consists of a senior group of proven business leaders: Bob Hicks, Chairman of the Executive Committee and Managing Partner of Taft Stettinius & Hollister LLP; Rhone Resch, President and Chief Revenue Officer at Solarlytics, Inc.; Michael Sonnenfeldt, the founder of TIGER 21, the nation's premier network of learning groups for high-net-worth investors, and former chairman of Carmanah Technologies Corp.; John Walker AM, retired chairman of Macquarie Capital; and a select group of BrightNight leaders.

ABOUT BRIGHTNIGHT
BrightNight is the first global renewable integrated power company designed to provide utility, commercial, and industrial customers with clean, dispatchable renewable power solutions. BrightNight works with customers across the U.S. and Asia Pacific to design, develop, and operate safe, reliable, large-scale renewable power projects optimized to better manage the intermittent nature of renewable energy. Its deep customer engagement process, team of proven power experts, and industry-leading solutions enable customers to overcome challenging energy sustainability standards, rapidly changing grid dynamics, and the transition away from fossil fuel generation. To learn more, visit: www.brightnightpower.com

SOURCE BrightNight