Lithium-ion battery maker Blackstone Resources has promoted its chief operating officer to head up its subsidiary Blackstone Technology.
Michael Hingst (pictured) had been working for Blackstone Resources in Switzerland as COO for more than eight years before the promotion.
He replaces outgoing Blackstone Technology CEO Holger Gritzka.
Hingst started his career in the areas of finance, administration and marketing, consulting in German companies such as ESSO, Airbus Industries as well as Barclays and Opel Bank.
He managed his own finance house with a focus on international investments before he became the founder and CEO of German Engineering S.A.C. in Peru.
Relisting to reach wider markets
Earlier this month, Blackstone Resources announced it would go private, with the shares delisted from the Swiss stock exchange and a transfer to other international trading venues being prepared.
CEO and founder of Blackstone, Ulrich Ernst, said: “In our view, the future of battery technology lies primarily in the USA and Germany.
“We are now planning to shortly go public on the German, English or American stock exchanges.”
The company said the decision was made because the market environment in Switzerland limits European investments.