Fayetteville Company Poised to Amp Up 'Power' Production

by Luke Jones  on Monday, Mar. 5, 2012 12:00 am  

"We're in an area that is very new and emerging," Hornberger said. "We're actually one of the leaders in what we do in the world. We're growing pretty rapidly, becoming key players in the field of high-performance power electronics systems."

Before he graduated from UA, Hornberger had no inkling he'd be able to use his talents so close to home.

"A lot of graduates from UA went off," he said. "There weren't any jobs here; it was an East Coast-West Coast type of deal. Now we're recruiting them to come back."

Lostetter believes power electronics are going to remain significant, too.

"There's a huge variety of applications for renewable energy, solar arrays, solar panels - those require power electronics," he said. "Wind turbines for wind energy - those require power electronics. All of those systems are areas we're targeting for commercial use."

Ritchie reported APEI's general annual revenue for 2011 was $7.6 million. Lostetter said APEI has been growing at a rate of 40 percent per year and he doesn't see that slowing down.

"We're putting out engineers that specialize in this area," he said. "It's a very core expertise here in the region that you can't find anywhere else in the world."

Olejniczak is still chairman of APEI's board, and this summer he will return to Fayetteville to work with the APEI team for the first time in 10 years.

"I think the ideas that were conceived in the mid- to late 1990s are as valid today or more so than when we first conceived of them," he said. "The executive team and all the employees at APEI have done a masterful job of focusing on best-in-class work through creative, innovative problem solving. I'm very impressed with everyone there, and I'm anxious to work side-by-side with them to take the company to the next level." 



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