Milpitas, Calif. – August 12, 2020 – Virtual Power Systems’ (VPS) board of directors today announced that interim CEO, Dean Nelson, has been named permanent CEO, and the company has secured $12 million in funding from new and existing investors.
Prior to VPS, Nelson has driven more than $10 billion in infrastructure projects across three continents for Sun Microsystems, eBay and Uber. His extensive architecture, engineering and operations experience includes three decades of focus in data center, hardware, network, and infrastructure software. A holder of four U.S. Patents, he has produced numerous award-winning innovations in mission-critical facilities and compute environments.
“We are fortunate to have Dean Nelson leading Virtual Power Systems (VPS) at a time when data centers are recognizing the critical need to utilize Software-Defined Power,” said Peter Gross, VPS’ Chairman of the Board. “As permanent CEO, we are excited to continue to benefit from his stewardship, vision and exemplary track record of driving industry leading technology teams.”
As the pioneer of Software-Defined Power, VPS transforms data center power distribution by extending the value of virtualization to the power plane, increasing electrical power utilization and efficiency of data center IT infrastructure. VPS’ ground-breaking Intelligent Control of Energy (ICE®) technology tracks real-time data center power usage and dynamically allocates energy to data center servers, racks and systems lowering costs while simultaneously maintaining, and in many cases, increasing data center uptime.
“I am honored and excited for the opportunity to lead Virtual Power Systems,” said Dean Nelson, VPS’ CEO. “The COVID-19 pandemic has highlighted the world’s dependency on digital infrastructure and the corresponding explosion of data and data center capacity demand. We are laser-focused on helping our customers significantly increase utilization by unlocking stranded power that reduces costs and simultaneously increases resiliency. I look forward to working with the board and the incredibly talented VPS team to advance the adoption of Software-Defined Power.”
The additional $12 million in capital brings the total investment in VPS to $46 million. This raise will be used to expand the team, customer engagements, partnerships, and product development of Software-Defined Power (SDP) across the Intelligent Control of Energy (ICE) hardware and software platform.
For more information on how Software-Defined Power and Intelligent Control of Energy (ICE) platform enables the future of decentralized power, visit: virtualpowersystems.com/ice
About Virtual Power Systems
Virtual Power Systems (VPS) is transforming how next-generation data center and cloud providers provision, manage and utilize power capacity with its ground-breaking Software-Defined Power® and Intelligent Control of Energy® (ICE) technology platform. VPS eliminates the need to over-provision power capacity to protect workloads from potential spikes and failovers. ICE dynamically adjusts power delivery as demand fluctuates across data-center workloads, racks and servers. ICE enables data center and cloud providers to generate additional revenue within existing power and IT footprints while avoiding millions of dollars in capital investments and operating expenses.
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Jennings & Associates Communications