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NAPLES, Fla. - Rain Enhancement Technologies Holdco, Inc. (NASDAQ: RAIN, RAINW), a company focusing on ionization rainfall generation technology, has announced the appointment of Randy Seidl as its new Chief Executive Officer. Seidl, who has served as Co-CEO since January 2, 2025, brings over 30 years of experience in scaling technology companies and driving revenue growth.
Seidl’s notable career includes senior leadership roles at Hewlett Packard’s Americas Enterprise Group, Sun Microsystems, and EMC Corporation (NYSE:EMC_old). He has also founded several successful technology firms such as Sales Community and Revenue Acceleration. Seidl’s current board memberships include Ondas Holdings Inc. (NASDAQ: ONDS), which has seen a significant 65% price return over the past six months despite current market challenges. According to InvestingPro data, Ondas Holdings maintains a market capitalization of approximately $150 million, though analysts anticipate sales decline in the current year. Seidl is an alumnus of Boston College’s Carroll School of Management.
The leadership change comes as Chris Riley steps down from the Co-CEO role but remains on the company’s Board of Directors. Harry You, Chairman of the Board of RET Holdco, expressed confidence in Seidl’s ability to advance the company’s technology and market opportunities, while also acknowledging Riley’s contributions, particularly through the company’s go-public transaction. For deeper insights into leadership changes and their impact on company performance, InvestingPro subscribers gain access to comprehensive Pro Research Reports covering 1,400+ US stocks, transforming complex Wall Street data into actionable intelligence.
Seidl expressed his commitment to leading RET towards commercializing their technology and delivering value across multiple industries, including energy, agriculture, logistics, transportation, decarbonization, and food, as well as to supranational organizations and localities.
RET’s mission is to provide reliable access to water through their ionization rainfall generation technology, aiming to positively impact business, society, and the planet.
The company’s forward-looking statements highlight their focus on technological development, potential commercial partnerships, and operational efficiency. However, these statements are subject to various risks and uncertainties, as detailed in their SEC filings.
This leadership transition is based on a press release statement and reflects RET’s strategy to leverage Seidl’s extensive experience to further its growth and technological advancements in the field of weather modification. Investors seeking detailed analysis of similar emerging technology companies can access exclusive financial metrics and expert insights through InvestingPro, which offers real-time valuations and comprehensive financial health assessments across multiple sectors.
In other recent news, Ondas Holdings Inc. has seen a flurry of activity with significant appointments, financial moves, and operational advancements. Markus Nottelmann has been named as the new CEO of subsidiary Ondas Networks, bringing a wealth of experience from the railroad industry. The company also welcomed Ron Stern (AS:PBHP) to its Board of Directors, a move expected to influence the growth of its Ondas Autonomous Systems (OAS) business unit.
Ondas has been actively strengthening its financial position, issuing $18.9 million in Series B-2 Senior Convertible Notes and securing an additional $1.7 million through a private investment. Despite a challenging third quarter in 2024, where revenues fell to $1.5 million from $2.7 million the previous year, the company secured a defense order for its AI drone platform, the Iron Drone Raider, with initial orders in the defense market totaling approximately $14.4 million.
The company’s subsidiary, American Robotics, obtained an additional Federal Aviation Administration (FAA) Beyond Visual Line of Sight (BVLOS) waiver, allowing for expanded drone operations. These transactions and strategic developments were facilitated by Oppenheimer & Co. Inc., acting as the sole placement agent in some instances. These are the latest developments in Ondas Holdings’ operations.
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