McGough is President and CEO of Ioxus, and plans to help the company in its ongoing mission to become a high volume manufacturer, developer and provider of ultracapacitor-based energy storage and power delivery solutions. McGough formerly served as CEO of Pentadyne Power Corporation and Envinta Corporation and Energetics PLC and was a division president and general manager at Maxwell Technologies, where he launched a new business unit focused on ultracapacitors. During nearly three decades of leadership with technology and energy companies, McGough has established a long track record of success in commercializing new technologies, growing revenue and initiating high-volume production.
Among McGough’s achievements in his career prior to joining Ioxus, he succeeded in growing sales of Pentadyne’s energy storage technology from $.4 million to $16 million in four years during very difficult economic conditions. While in that position, McGough also launched new domestic and European sales channels, oversaw a $34 million round of private equity funding and increased revenue and gross profits by more than 120 percent a year on average. The World Economic Forum named Pentadyne under McGough’s leadership as a technology pioneer, and Red Herring Magazine identified him as a “shooting star.”
In addition to his extensive experience in the energy technology industry, McGough brings specific familiarity with the ultracapacitor market to his new position. While at Maxwell Technologies, McGough moved that company’s ultracapacitor offering from a lab prototype to a full-fledged business unit, sparking an annual product revenue growth of $11 million and boosting stock value by 300 percent in less than two years.
Taking advantage of heritage and strategic partnerships, Ioxus brings experienced and flexible manufacturing capabilities to the ultracapacitor business. Located close to the parent company, Ioxus leverages the military standard manufacturing expertise developed at Custom Electronics, Inc. (CEI) for more than 45 years. Ioxus has wide-ranging engineering and manufacturing resources with extensive experience in high voltage components and integrated systems.
The parent company of Ioxus, CEI, has been supplying commercial and military clients with high-reliability capacitors and integrated electronic assemblies since 1964. Ioxus is a subsidiary devoted exclusively to providing environmentally friendly ultracapacitors for use in a range of applications, from hand-held electronics to industrial and automotive needs. Ioxus observes the same quality procedures that have allowed CEI to become AS-9100 and ISO-9001 certified.