Founder Eric Close Moves to Board as Mike Lach, Formerly of NeuStar, Inc. Becomes CEO
PITTSBURGH, PENNSYLVANIA, October 19, 2012 — RedZone Robotics. (“RedZone” or the “Company”), a designer and manufacturer of wastewater inspection technologies and related analytical solutions for municipalities, contractors and engineering companies, today announced a change in leadership to further drive the Company’s growth. After nine years of leading RedZone, Eric Close is stepping down as President and CEO. Close will continue to serve on the Board of Directors. Mike Lach, former President of NeuStar, Inc. (NYSE:NSR), will become CEO. Lach brings significant operational expertise to the Company which is seeing increasing demand for its products as communities seek proactive management of wastewater assets. He joined NeuStar when it was a private company and drove 19 consecutive quarters of growth before going public in 2005. RedZone provides cutting-edge wastewater pipe inspection services, software, and decision support solutions for underground infrastructure asset managers.
“The mounting pressure in our communities to prolong the life of wastewater assets and maintain services at the lowest possible cost creates a very bright future for RedZone” said Lach. “The Company is already the market leader in large pipe condition assessment, but in response to the need of engineers and utility managers to be more proactive, the company recently introduced its revolutionary ‘Y.E.S. Your Entire System’ program. With limited funds available, collection system managers need accurate data to help them perform the right projects at the right time to mitigate the most risk, and we are uniquely suited to provide the solutions to facilitate those decisions”
Today’s wastewater managers are tasked with making critical decisions about their valuable collection system assets while being limited by insufficient technologies,
time, funding, and resources. The EPA estimates that U.S. investments in the aging wastewater infrastructure will need to increase by more than $150 billion over the next two decades to maintain current service levels, unless new spending and operations practices are adopted. Communities need useful information that is accurate, complete, centralized, and standardized to help them understand their system. RedZone’s solutions provide actionable information required to make better decisions while reducing spending and negative environmental impact. RedZone accomplishes these results by providing world-class robotic sewer inspection technologies and sophisticated data-analysis software.
Prior to RedZone, Lach served as President and COO of GridPoint, an established leader in smart energy solutions. Prior to GridPoint, he was the President and COO of NeuStar, Inc. (NYSE:NSR), a trusted, neutral provider of real-time information and analysis to the Internet, telecommunications, entertainment and marketing industries. Prior to his post
at NeuStar, Lach served as the President of Network and Systems at Winstar Communications where he oversaw the engineering, construction, and operations of Winstar’s national infrastructure. Mr. Lach received a B.S. with distinction in Industrial Engineering from Purdue University where he was a Franklin W. Hosken scholar.
RedZone serves customers globally spanning large and small municipalities and wastewater agencies, as well as regional and national engineering firms. Last year, RedZone raised $33 million in growth capital from ABS Capital Partners and FourWinds Capital Management.
About RedZone Robotics, Inc.
RedZone provides an infrastructure asset management platform that helps municipalities globally manage their valuable and abundant wastewater assets. Using RedZone’s proprietary data acquisition robotics and industry leading ICOM3 asset management software, RedZone provides municipalities and engineers tools that provide better information that can be used to comply with regulatory requirements spend limited financial resources smartly and save the environment.
For more information please visit www.icom3.com.
Contact: Ken Wolf, Vice President Sales & Marketing. firstname.lastname@example.org