Heliogen Announces CFO Transition

Sagar Kurada Steps Down; Alan Gahm Appointed Interim CFO and Wilda Siu Promoted to Chief Accounting Officer

PASADENA, Calif.--(BUSINESS WIRE)--Heliogen, Inc. (“Heliogen” or the “Company”) (OTCQX: HLGN), a leading provider of AI-enabled concentrating solar energy technology, today announced that the Company and its Chief Financial Officer, Sagar Kurada have mutually agreed for Mr. Kurada to transition out of his role, effective January 11, 2024. Mr. Kurada will support the Company during a transition period to ensure an orderly exit. The Company has initiated a formal search process for Mr. Kurada’s permanent replacement.

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Alan Gahm, a veteran finance executive with over 35 years of experience, has been appointed Interim Chief Financial Officer, effective January 11, 2024. Mr. Gahm’s depth of expertise includes accounting and controllership, financial planning and analysis, operations finance, treasury, and M&A. He has held financial leadership roles in the industrial and energy sectors at companies such as Ascend Performance Materials, Koch Industries, and Shell. He previously served as Interim Chief Accounting Officer at Heliogen during the third quarter of 2022.

“I want to thank Sagar for his contributions to Heliogen during his tenure. We wish him the best in his future endeavors,” said Christie Obiaya, Chief Executive Officer of Heliogen. “I would also like to thank Alan for stepping into the Interim CFO role. I am confident Alan’s prior experience with Heliogen will support a smooth transition during our permanent CFO search, as we continue to execute on our strategic plan and growth initiatives.”

Heliogen also announced that Wilda Siu, who currently serves as the Company’s Senior Vice President, Business Systems Transformation & Financial Operations, will be promoted to the role of Chief Accounting Officer and Head of Business Systems and Information Technology, effective January 26, 2024. She will replace Kelly Rosser, who has informed the Company of her intent to resign from that role. Ms. Siu has been the Company’s Senior Vice President, Business Systems Transformation & Financial Operations, since September 2022. Prior to joining Heliogen, Ms. Siu held senior accounting and finance roles at Vizio Holding Corp. (NYSE: VZIO) – including accounting leadership through Vizio’s initial public offering, Nellson LLC and Broadcom Inc. Ms. Siu, who is a Certified Public Accountant (CPA), holds an M.B.A. in Professional Accounting from the University of Toronto and a Bachelor of Commerce in Accounting and Economics from McGill University.

About Heliogen

Heliogen is a renewable energy technology company focused on decarbonizing industry and empowering a sustainable civilization. The company’s concentrating solar energy and thermal storage systems aim to deliver carbon-free heat, steam, power, or green hydrogen at scale to support round-the-clock industrial operations. Powered by AI, computer vision and robotics, Heliogen is focused on providing robust clean energy solutions that accelerate the transition to renewable energy, without compromising reliability, availability, or cost. For more information about Heliogen, please visit heliogen.com.