Environmental tech company reinforces focus on corporate governance as it builds on rapid global expansion to help "cure unhealthy buildings"
NEW YORK, July 13, 2020 /PRNewswire/ -- DriWay, a global environmental technology company, today announced two new independent Board Directors, Amy Guggenheim Shenkan and Sima Gandhi. DriWay partnered with Goldman Sachs on its board selection process to identify individuals with a diversity of experiences and perspectives.
Ms. Shenkan is an experienced public company and private equity backed corporate director, public company officer, president, and former McKinsey & Company digital transformation leader. Shenkan brings deep operating and leadership experience in industry powerhouses such as McKinsey, GE, Wells Fargo, and Travelocity. Her executive and director experiences working in and advising companies which have transformed their industries by leveraging technology will be instrumental in the guidance of DriWay's strategy, finance, audit, and governance processes as the company continues to expand globally.
Ms. Gandhi is a business executive focused on emerging technologies, most recently leading business development and strategy for the fintech unicorn Plaid, which was recently acquired by Visa for $5B+. Gandhi brings a broad and diverse expertise across regulatory, private sector, and developer priorities given her unique background at the US Department of Treasury, American Express, Plaid, and as a tech investor.
"We cure unhealthy buildings and create healthier living and working environments for people worldwide, especially as businesses grapple with the challenges of improving indoor health. Given current and future global health challenges, we are in a unique position to help businesses and building owners respond to these new realities," said Roy Judelson, Global Chairman and CEO of DriWay Technologies. "As we continue our rapid global expansion, I believe in having strong, experienced board members who will help ensure we maintain best in class governance and culture. Both Amy and Sima have the backgrounds and experiences that will further strengthen our leadership team and help guide DriWay during this important time, and I am delighted to welcome them to our Board."
"Roy's vision to build a global business with a positive social impact and exemplary governance coupled with DriWay's disruptive technology and a $50B immediately addressable market made the decision to join this board an easy one," said Amy Guggenheim Shenkan.
"DriWay's rapid success to date underscores the power of its technology to improve the health of people all over the world. I'm thrilled to partner with Roy and the DriWay team in building a successful business that so effectively uses tech to drive social impact," said Sima Gandhi.
DriWay is a technology company that addresses environmental and health problems in buildings globally, including "rising damp": mold-causing ground moisture that naturally enters building foundations, basements, and ground floors and can inflict health risks, structural damage, and increased thermal insulation costs. This problem plagues 10% of all buildings in the US, and higher percentages in other regions of the world, according to an Ernst & Young market study.
The company's patented technology naturally neutralizes the attraction force necessary for groundwater to rise into buildings, allowing a combination of evaporation and gravity to remove excess water from the walls. Without the use of any potentially hazardous chemicals or electrical power, it provides a sustainable, permanent, and environmentally friendly solution for building owners, managers, and occupants. DriWay´s added impact on improved air quality, carbon footprint reduction, health performance indicators, and reduced energy consumption in buildings has attracted the attention of leading scientific and research institutions, such as Imperial College London and Massachusetts Institute of Technology, who will be studying further applications of this groundbreaking technology.
DriWay is headquartered in London, with subsidiaries in the US, UK, UAE and South Korea. It is currently providing its services to the US Government and marquee clients such as Grosvenor Group in London, Nakheel Properties in Dubai, Olshan Properties in New York City and Hyundai Corporation in South Korea. During the next year DriWay will also be expanding its operations into India, Japan, Indonesia, Greece, and Cyprus after recently completing a Seed Round financing at a $100 million valuation.
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