Heliogen Announces Updates to Strengthen Its Board and Drive Implementation of Strategic Plan and Growth Initiatives

Announces appointment of Roger A. Lazarus to Board – veteran financial services executive brings decades of management, operational and financial experience across developed and emerging markets

Board establishes Corporate Strategy Committee to advise and oversee execution of key strategic pillars to improve shareholder value

Heliogen, a leading provider of AI-enabled concentrating solar energy technology, announced updates to its Board of Directors (the “Board”) to accelerate the successful implementation of the Company’s strategic plan, pursue growth initiatives and enhance value for shareholders.

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“I am committed to working closely with our Corporate Strategy Committee as we focus on executing our strategic plan and propelling our growth initiatives forward”

Roger A. Lazarus has been appointed a member of the Board, effective March 2, 2023. Mr. Lazarus, a Chartered Accountant (ICAEW), brings valuable financial and operational expertise across both developed and emerging markets. He will serve on the Board’s Audit and Compensation Committees.

Additionally, the Board has established a new Corporate Strategy Committee (the “Committee”) to work with Heliogen’s management team to advise and oversee management’s process for implementing the Company’s strategic priorities and growth initiatives, immediately targeted at (1) sales of the Company’s steam product for use in industrial processes and in green hydrogen production and (2) installation of commercial-scale projects. The Committee is chaired by director and industrial energy transition veteran Barbara Burger, and includes Christie Obiaya, Heliogen’s Chief Executive Officer, and directors Stacey Abrams and Paddy Padmanathan.

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Further, director Julie M. Kane has been elected chair of the Board.

“I am committed to working closely with our Corporate Strategy Committee as we focus on executing our strategic plan and propelling our growth initiatives forward,” said Christie Obiaya. “The Committee’s engagement will be invaluable as we tackle the key pillars of our business strategy. With our world-class team and Board, we are poised to scale our groundbreaking concentrated solar thermal technology to decarbonize industry and deliver value to our shareholders.”

“The entire Board is pleased to welcome Roger as a director to support our mission of changing the world by decarbonizing industry,” said Julie Kane. “Roger brings a wealth of finance and business expertise, along with a more than three-decade track record as an experienced leader, operator and strategist in emerging markets. I am confident we will benefit from his valuable perspectives as we execute on our strategic plan and continue to grow Heliogen into a global leader in industrial decarbonization.”

“I am excited to join Heliogen’s Board at such a pivotal time for the Company,” said Roger Lazarus. “I am energized to work alongside this top-notch group of individuals united by the same mission to accelerate the global energy transition, and I look forward to bringing my finance, operational and management experience to bear as Heliogen continues to execute on its global growth strategy.”

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