Forum Energy Technologies Announces Appointment of Dr. Emily Reichert, Ph.D., CEO of Greentown Labs, to Its Board of Directors

Rhea-AI Summary

Forum Energy Technologies (NYSE: FET) announced the appointment of Dr. Emily Reichert to its Board of Directors, increasing the board size to eight. Dr. Reichert, CEO of Greentown Labs, brings extensive experience in clean technology, aiming to bolster FET's focus on sustainable energy solutions. Under her guidance, FET aims to leverage the global energy transition to enhance its strategic market presence, with nearly 10% of its revenue currently derived from non-oil and gas products. FET is committed to expanding its offerings in clean energy technologies.

Positive

• Appointment of Dr. Emily Reichert expected to enhance strategic focus on clean technology.
• Dr. Reichert's experience may accelerate FET's transition towards sustainable energy products.
• Nearly 10% of revenue from non-oil and gas products indicates a proactive approach to diversification.

Negative

• None.

Forum Energy Technologies, Inc. (NYSE: FET) today announced the appointment of Dr. Emily Reichert, Ph.D. to its Board of Directors. Dr. Reichert will also serve as a member of the Nominating, Governance and Sustainability Committee. In connection with Dr. Reichert’s appointment, the Board increased its size to eight directors.

Dr. Reichert currently serves as Chief Executive Officer of Greentown Labs, North America’s largest climate tech startup incubator. She has led the rapid growth of Greentown Labs into a global center for climate tech solutions innovation. Based in Boston, MA, Greentown Labs recently opened its second incubator hub in Houston, TX. Dr. Reichert earned her doctorate in physical chemistry from the University of Wisconsin and Masters of Business Administration from the Massachusetts Institute of Technology – Sloan School of Management where she also served as a Sloan Fellow in Innovation and Global Leadership.

Cris Gaut, FET’s Chairman of the Board, remarked, “I am pleased to welcome Dr. Reichert to FET’s Board as an independent director. Her significant wealth of experience with the development and commercialization of clean technology will have an immediate beneficial impact. FET is focused on the development of energy products and technologies, including those that reduce GHG emissions and support clean energy. Nearly 10% of FET’s revenue currently comes from non-oil and gas related products, and we are committed to expanding our strategic focus on sustainable and new energy products and technologies. Dr. Reichert’s appointment will accelerate this strategic market expansion for FET.”

Dr. Reichert stated, “FET’s leadership recognizes both the challenge and opportunity to be seized in the global energy transition that is already underway. I join FET’s Board of Directors to help demonstrate that companies serving the traditional energy industry can profitably transition to a decarbonized future. As founding CEO of Greentown Labs, I am excited to share my experience and insights from a decade of supporting entrepreneurs drive clean energy solutions to market.”

FET (Forum Energy Technologies) is a global company, serving the oil, natural gas, industrial and renewable energy industries. FET provides value added solutions that increase the safety and efficiency of energy exploration and production. We are an environmentally and socially responsible company headquartered in Houston, TX with manufacturing, distribution and service facilities strategically located throughout the world. For more information, please visit www.f-e-t.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210701005164/en/

FAQ

What is the significance of Dr. Emily Reichert's appointment to Forum Energy Technologies?

Dr. Emily Reichert's appointment to the Board of Directors is significant as she brings expertise in clean technology and will help guide FET's strategic focus on sustainable energy products.

How will Dr. Reichert's experience impact Forum Energy Technologies?

Dr. Reichert's experience in leading Greentown Labs is expected to provide valuable insights into the clean energy sector, aiding FET in its transition towards sustainable solutions.

What is Forum Energy Technologies' current revenue strategy?

FET currently generates nearly 10% of its revenue from non-oil and gas related products, highlighting its commitment to diversifying into sustainable and clean energy solutions.

What role will Dr. Reichert serve at Forum Energy Technologies?

Dr. Reichert will serve as an independent director on FET's Board and will also be part of the Nominating, Governance and Sustainability Committee.

What are the future plans for Forum Energy Technologies after Dr. Reichert's appointment?

FET plans to accelerate its strategic market expansion in clean and sustainable energy technologies, leveraging insights from Dr. Reichert's extensive clean tech experience.