HydroPoint Hires New CEO for Growth: Silicon Valley Executive Sees Big Potential for Smart Water Technology |
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July 7, 2008
From North Bay Business Journal By Loralee Stevens PETALUMA - HydroPoint Data Systems is entering a new phase of expansion with an established Silicon Valley executive at the helm. Paul Ciandrini, who oversaw significant sales and revenue growth in his last three companies, including Oracle, intends to take the smart water-management systems company in new directions while building its current leadership position in the U.S. He projects 50 percent to 100 percent growth for the 76-employee Petaluma company during the next couple of years. "Water management and conservation through automation will follow the same trajectory of business automation once people connect the dots," said Mr. Ciandrini, who considers the HydroPoint technology a logical extension of his computer experience. He studied HydroPoint and its WeatherTRAK system for months before deciding the company had a unique value proposition and several underused assets and agreeing to come on board. The company's automated irrigation control systems pull down a constant stream of satellite weather data and coordinate it with local moisture readings to determine when and how much water to apply to plants. "How often do you encounter a technology that lowers your costs immediately, requires no changes in behavior and is good for the environment as well? This is a rare confluence of positives," said Mr. Ciandrini. Although HydroPoint's initial focus was on water-conserving irrigation systems for homes, businesses and municipalities, its weather data analysis and usage monitoring are equally valuable and have great potential to serve new markets, he said. "We are very, very good at what we do for our customers in North America. Now it's time to expand our dominance and broaden the markets - including overseas markets - and the verticals we serve." Chris Spain, a HydroPoint co-founder who will step aside as president and CEO, remains as chief strategist. "We want to free him up for market development while I concentrate on efficiencies of execution. He and I complement each other," said Mr. Ciandrini. HydroPoint was founded in 2003, licensing the patented WeatherTRAK technology of Petaluma's Network Services and adding sophisticated analysis and monitoring software. Over the years, the company has reported receiving investor funding of about $30 million. "We'll most likely do one more round of funding, probably in 2009. At that point, we'll be established to move forward," said Mr. Ciandrini, who said talk of an IPO was premature but didn't rule it out. He's helped position two companies for IPOs, and during his role as vice president of North American application sales for Oracle, he oversaw annual revenue growth of 43 percent. More recently, as COO and then president of Plumtree Software Inc., he helped increase the company's value by more than 80 percent and facilitated its acquisition by BEA Systems Inc. Before accepting the position at HydroPoint, he was chief risk officer for Bearing Point Inc. in Redwood City. But risk doesn't come into the equation at his new company. "The HydroPoint components - monitoring technology, data analysis, software and mechanical automation - are established, and the short ROI, from three to 14 months, is a major selling point," said Mr. Ciandrini. Compared with the initial expense, maintenance costs and long ROI of energy generation and conservation, smart irrigation is a quick and productive way for a corporation to invest in green tech, he said. Although HydroPoint will establish offices in other locations, headquarters, assembly and testing will remain in Petaluma. "Our employee base is here, and I like it here," he said. |
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