Energy Innovations Names New CEO

Pasadena-based Energy Innovations, one of the solar power firms funded by Idealab and started by Bill Gross, said Thursday afternoon that it has hired on Joseph Budano as the company's new CEO. Budano was most recently President of the programmable power division of Xantrex Technologies. Xantrex is a major manufacturer of solar power inverters, used to convert DC solar power to AC household current. Energy Innovations develops solar concentrators. According to Energy Innovations, Budano has also served at Acterna Corporation, Wavetek, Boston Consulting, and Motorola. Energy Innovations is backed by Idealab; MDV Mohr, Davidow Ventures; and Westlake Venture Partners.