Elmsford, New York (September 7, 2011)—HYPRES, Inc., the Digital Superconductor Company™, announced that John Levy has been named chairman of its board of directors, replacing Franklin “Pitch” Johnson, who remains as a board member and principal investor. Mr. Levy, who has been serving as a board member, will provide new strategic insight and guidance as the Company continues to develop digital superconductor technology, innovative software and market-ready intellectual property (IP) for mobile broadband, medical imaging and high performance computing applications.
Mr. Levy has more than 30 years of technology operations and financial experience, and was a founding partner of L Capital Partners, a $160 million early stage venture capital fund focused on advancing companies that feature the potential to bring groundbreaking products to market.
“The core digital superconductor electronics technology and the innovative algorithms and software being developed by HYPRES provide an outstanding high performance platform,” said Mr. Levy. “I’m very excited about the opportunity to help guide the Company’s expansion into new markets. The technology and special expertise of the HYPRES team has tremendous potential in several markets.”
Most recently, HYPRES has been active in developing a solution for wireless carriers to deliver high performance, resource-effective 4G mobile broadband. The Company has developed a ground-breaking software solution that combines 4G with 3G signals, producing greater network capacity that is fully compatible with existing and future radio standards and architectures. The Company also has efforts underway to increase the performance and reduce the scan times of MRI devices currently in the field based on the industry’s fastest analog-to-digital circuits. Finally, the Company continues to move forward with projects and funding related to developing digital superconductor-based energy efficient, high performance computing solutions for a variety of critical government and commercial applications.
At L Capital Partners, Mr. Levy led investments in the technology sector with particular focus on semiconductors, signal processing, and mobile communications. In 2010, Mr. Levy became Chairman of BioLite, a distributed energy company focusing on markets in the developing world. Mr. Levy also has served as a partner in the Shalom Equity Fund, a seed stage, technology oriented fund operating in the United States and Israel. He also has served as founding CEO of ePlanet, a computer vision company funded by Interval Research Corp., a Palo Alto-based think tank sponsored by Paul Allen and Intel Corp. Before that he was a general partner of Ariel Securities Corp., a NASD-licensed broker/dealer specializing in venture capital and media-based investments.