Limejump’s co-founder and CEO, Erik Nygard, is to leave the energy tech firm.
Nygard, who co-founded Limejump in 2014, is to leave on 30 September 2020 in order to have “the freedom to explore new business opportunities”, with current COO, Catherine Newman, set to replace him on an interim basis.
Nygard that whilst it was a “massive decision” for him to leave the company, he has “full confidence” in Newman and her leadership team.
“It has been an absolute honour to have worked alongside the most amazing team of people who have built Limejump to where it is today,” he added.
Making reference to Shell’s acquisition of Limejump in 2019, Nygard stated that the active support of Shell has given Limejump a “strong position” to continue to grow its market share and strengthen its services.
Newman is to take over from Nygard on an interim basis, having joined Limejump as COO in April. This followed stints at both BP and Gazprom Marketing and Trading.
She praised Nygard for founding a “fantastic platform” but said it is “now our responsibility to see it go further”.
“I want to thank Erik for his support since my arrival at the company earlier this year and as I have got to know the Limejump business better. I look forward to taking his vision of a green and renewable future even further with the team.”
Limejump currently employs 100 people and has over 1.2GW on its virtual power plant (VPP).
In October 2019, it penned a short-term power purchase agreement with UK solar investor Bluefield Solar Income Fund to take over the management of the trading of power generated from solar farms within Bluefield’s portfolio, taking this power into its VPP.
It has also signed an agreement to optimise 100MW of battery storage being developed in Wiltshire.