Penrith exits Earth Advantage, CakeSystems
By Christina Williams
Sustainable Business Oregon editor
Sean Penrith has parted ways with Earth Advantage Institute and CakeSystems Inc.
At the end of the year, Sean Penrith, long-time executive director at Earth Advantage Institute, resigned his post as CEO-in-waiting of the nonprofit's first for-profit spinoff CakeSystems Inc.
"Since my employment contract with Earth Advantage was up after seven great years with them, I have elected not to pursue CakeSystems in 2013. I am currently looking for new opportunities that I can meaningfully contribute to this coming year," Penrith wrote in an email to colleagues New Year's Eve.
In November, Earth Advantage announced its intent to spin off CakeSystems, a software company specializing in home energy audits and building energy efficiency data, with Penrith at the helm. The spinoff process was underway, but incomplete.
"It's still our intent to spin this off," said David Heslam, who succeeded Penrith as Earth Advantage Institute's executive director.
Heslam said that Earth Advantage is currently recalibrating its spin-off plans to determine whether or not to hire someone else to lead the effort. The organization is in talks with potential outside investors.
Portland-based Earth Advantage Institute certifies green buildings and manages a program to provide home energy efficiency ratings — the Energy Performance Score. The income from its certification business is roughly equal to the income from its CakeSystems software business, Heslam said.
Earth Advantage has 25 employees, six of them work full-time on CakeSystems.
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