Today, Cyrq Energy (“Cyrq”) announces the appointment of industry executive Mark Sudbey as Chief Executive Officer (CEO). Sudbey most recently served as CEO of Alpha Generation at its launch where he managed a domestic power portfolio with nearly $2 billion in annual revenue. Interim CEO Chip Schneider will return to his role as Chief Financial Officer and has been named President of Cyrq.

Sudbey brings decades of experience in leading energy infrastructure companies, serving as CEO for three ArcLight Capital energy portfolio companies over the last decade. In addition to his work with ArcLight, Mark previously held senior leadership roles at Reliant Energy, Orion Power Holdings and PG&E.

“We welcome Mark to Cyrq and look forward to having him lead our next phase of growth” said Paul Caudill, Chairman of Cyrq’s Board of Directors. “We are confident in the role that geothermal will play in meeting the increasing electricity demands being placed on utility providers across the western interconnect, and the future for Cyrq remains positive. On behalf of the Board of Directors, I also want to thank Chip Schneider for his leadership over the last seven months as interim CEO and we are excited to have Mark and Chip working together going forward.”

“I look forward to partnering with Chip and the rest of the Senior Leadership Team as well as the Board of Directors to build upon and expand the capabilities that Cyrq has today. My key goals will be to achieve safe operational excellence and create value across our portfolio. I feel that Cyrq is uniquely positioned to play a key role in helping deliver secure, zero emissions, and reliable energy to our customers” said Mark Sudbey, newly appointed CEO of Cyrq.

Headquartered in Salt Lake City, Cyrq Energy is a leader in around-the-clock, clean, reliable, and renewable energy, operating five geothermal facilities and one solar facility in Nevada, California, and Utah, with new projects under development throughout the western United States.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241010428071/en/