(Alliance News) - i(x) Net Zero PLC on Friday named Jonathan Carpenter Stearns as its new chief financial officer and an executive director, with immediate effect.
i(x) Net Zero is an investment company focusing on energy transition and sustainability in the built environment.
Stearns is currently executive chair of Citron Energy Inc.
i(x) Net Zero said Stearns brings over 40 years of experience as CFO, chief executive, and chief investment officer in the operating management of emerging growth companies.
In October 2010, Jonathan was a director of PCD Communications, a US-domiciled company that filed for bankruptcy, the company noted.
On Thursday, i(x) Net Zero had said that, after a strategic review company, it will focus firmly on growing the net asset value of the company's investments.
It also introduced near term target of reducing operating expenditure to 2% of NAV, down more than 50% from the 2022 operating expenditure.
The company explained that this will be achieved by identifying and seeking to execute profitable investment realisations from the existing investment companies in the short term and by sourcing high growth investment opportunities.
Shares in i(x) Net Zero were untraded at 8.00 pence each in London on Friday morning.
By Sophie Rose, Alliance News reporter
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I(x) Net Zero (IX.)