XL Hybrids Inc. announced Jan. 22 it has made a key addition to its executive team with the appointment of Neal C. Isaacson as chief financial officer to advance the company in the transportation and commercial vehicle markets.
In this role, Isaacson is responsible for finance and administrative functions, as well as legal, HR and facilities. With more than 25 years of experience, Isaacson is an expert in strategic financial planning, global cash management, and debt and equity financing in the technology and cleantech industries. His diverse background blends public company experience with the high-growth, fast-paced environment of early-stage venture-backed companies.
Previously, Isaacson served as CFO at Open Blue and Ze-gen and, as CFO at EnerNOC, took the company public. The Association for Corporate Growth Boston (ACG) and Mass High Tech named EnerNOC the 2007 Top IPO in New England.
Isaacson has also served as CFO of Ucentric Systems, and was founder, CFO and director of Cignal Global Communications Inc. In these positions, Isaacson was responsible for $300 million of private debt and equity financings across several industries. At EnerNOC, Isaacson was influential in positioning the company for its successful initial public offering by establishing and implementing the financial controls, procedures and financial rigor required to operate as a public company.
“Neal brings a wealth of experience that will be invaluable in continuing to execute our growth strategy of delivering hybrid powertrain technology to commercial fleet customers,” said Tod Hynes, president and founder of XL Hybrids.
“As I join XL Hybrids’ impressive management team, I am tasked with leading the company to new heights,” said Isaacson. “I am confident my experience will be instrumental in accelerating sales and bringing the company to the forefront of this growing and important industry.”
Isaacson has a bachelor’s degree in accounting from the University of Massachusetts and is a member of the American Institute of Certified Public Accountants and Massachusetts Society of Certified Public Accountants.
XL Hybrids secured a $3 million pre-Series C credit facility from WindSail Capital Group and partnered with Coca-Cola to deliver 100 hybrid service vans in December.