5N Plus Promotes Nicholas Audet to VP

5N Plus Inc. announced that it has promoted Nicholas Audet to vice president, with operational and commercial responsibility for all of 5N Plus’ activities, excluding those of its subsidiary Firebird Technologies.

5N Plus also announced that it has sold its entire interest in ZT Plus, which had been headed by MAudet, to its partner in this venture BSST LLC, a subsidiary of Amerigon Incorporated. Financial terms of the transaction are not being disclosed.

“We are pleased to promote Nicholas Audet and provide him with additional responsibilities and the ability to further contribute to the growth of our corporation,” said Jacques L’Écuyer, 5N Plus president and CEO. “Nicholas has been instrumental in our success through his leadership of our R&D activities which included the development of our cadmium telluride technology. More recently, Nicholas was acting as managing director of our joint venture ZT Plus. Unfortunately the commercial progress of ZT Plus was slower to develop than anticipated. In addition, there were differences over the future business strategy between the two partners that could not be reconciled. Accordingly, it was mutually agreed that 5N Plus would sell its entire interest in the venture, which we have done today.”