MARLBOROUGH, Mass., Nov. 03, 2026 (GLOBE NEWSWIRE) -- ConnectM Technology Solutions, Inc. (OTCQX: CNTM) (“ConnectM” or the “Company”), a U.S.-based technology company that develops, sells and operates energy infrastructure powering the physical layer of the AI economy, today announced the appointment of Karl Pomeroy as President of Keen Labs, the Company’s wholly owned technology subsidiary, effective November 2, 2026. Mr. Pomeroy brings more than 35 years of executive leadership experience at the intersection of thermal, energy, and tech industries, including expanding national distribution and service networks, advancing electrification initiatives, and driving profitable growth.
Mr. Pomeroy’s appointment represents an important step in ConnectM’s strategy to accelerate the commercialization of Keen Labs’ energy, thermal and intelligence technologies (including AI-powered heating, ventilation and cooling products), expand its distribution footprint, strengthen strategic partnerships, and scale the business into a leading provider of AI-enabled energy infrastructure solutions.
Keen Labs serves as ConnectM’s technology and product commercialization platform, developing and delivering advanced energy solutions. The business has established a national distribution network through which Keen-branded equipment is supplied by 14 distribution and installation partners, providing an established commercial foundation for further expansion. In its first year of operations, Keen Labs generated $3.9 million of revenue and positive operating income during the quarter ended June 30, 2026.
Keen Labs’ product portfolio includes AI-enabled heat pumps, Hi-C hybrid energy storage systems, Hi-E long-duration battery technologies, and virtual power plant software. Together, these technologies are designed to improve energy efficiency, enable intelligent management of distributed energy resources, and create opportunities for recurring revenue through grid services and AI-managed virtual power plants.
Beyond its commercial operations, Keen Labs has developed a common data and intelligence platform supporting ConnectM’s broader energy infrastructure businesses. The platform processes more than 30 gigabytes of operating and performance data daily across more than 120,000 connected assets, supporting intelligent energy management, equipment monitoring, and optimization. ConnectM has also reported a portfolio of 12 patents held or pending supporting its technology platform.
Bhaskar Panigrahi, Chairman and Chief Executive Officer of ConnectM, commented, “Karl is an accomplished energy and thermal executive who has built and scaled businesses in the very channels Keen Labs sells through. His experience expanding national distribution networks and driving operational profitability makes him ideally suited to lead Keen Labs through its next phase of growth. We have established a strong technology platform and are beginning to demonstrate meaningful commercial traction. Karl brings the leadership, industry relationships, and execution capabilities to help us capitalize on this momentum, accelerate revenue growth, and build Keen Labs into a significantly larger and more profitable business.”
Most recently, Mr. Pomeroy served as Chief Executive Officer of Motili, a technology-enabled thermal services subsidiary of Daikin Comfort Technologies, from September 2019 through February 2026. During his tenure, he led a significant business transformation, driving over $200 million in revenue growth, improving margins by more than 1,000 basis points, and expanding the company’s national service capabilities. He also held enterprise-level responsibility for Daikin’s electrification initiatives, including the adoption of inverter-driven heat pump technologies, the same category Keen Labs sells, as well as Commercial National Accounts and Residential New Construction.
Previously, Mr. Pomeroy served as Division President of Goodman Distribution’s Western United States operations from 2010 to 2019, overseeing a large, multi-state distribution business with more than $600 million in annual sales and full profit and loss responsibility. In this role, he expanded the company’s distribution network to 66 branches, strengthened market share, and improved operating performance. He previously served as Division Vice President of Goodman Distribution from 2004 to 2010.
Earlier in his career, Mr. Pomeroy held senior leadership positions at Lennox International and Service Experts, including Regional Vice President of Operations and Director of Marketing, Merchandising and Training, where he oversaw multistate service operations and led sales, marketing, and business development initiatives across residential and commercial markets. He holds a Bachelor of Science degree in Communication from Ohio University.
“I am excited to join Keen Labs at such an important stage in its development,” said Mr. Pomeroy. “The business has a compelling combination of innovative energy technologies, established distribution relationships, and significant opportunities for expansion. Having spent my career scaling energy, thermal, distribution, and technology-enabled service businesses, I see tremendous potential to build on the foundation already in place. My immediate priorities are to get more distributors and installers carrying Keen equipment, enroll more of that equipment in our virtual power plant software, and position Keen Labs for sustainable, profitable growth.”
About ConnectM Technology Solutions, Inc.
ConnectM Technology Solutions, Inc. (OTCQX: CNTM) is a U.S.-based AI energy infrastructure company that integrates and operates the power, thermal and intelligence systems beneath AI compute. Its power offerings include battery storage, solar and distributed energy systems, and virtual power plant dispatch. Its thermal offerings include smart heat pumps sold through enterprise distributors. Its wholly owned subsidiary, Keen Labs, develops the AI platform for monitoring, energy optimization and predictive maintenance across connected equipment. ConnectM is evaluating distributed compute as an asset-light alternative to traditional data centers, with the Company supplying power, site access and orchestration and compute partners providing and operating the hardware. ConnectM is headquartered in Marlborough, Massachusetts. For more information, visit www.connectm.com.
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This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We have based these forward-looking statements on our current expectations and projections about future events. All statements, other than statements of present or historical fact included in this press release, regarding our future financial performance, our strategy, the proposed listing of our common stock on a national securities exchange, the Ascent financing and the repayment, amortization or conversion of outstanding notes, the expected contributions of our new executives, the contemplated divestiture of our Owned Service Network operations, expansion plans, future operations, future operating results, estimated revenues, projected costs, prospects, plans and objectives of management are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “could,” “would,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “continue,” “project” or the negative of such terms or other similar expressions. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements, including the risks described in the “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” sections of our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission, including that our financial statements include a going concern explanatory paragraph, that our application to list on a national securities exchange may not be approved, and that the value of our Blue Cloud shareholding, which is subject to a lock-up, may fluctuate significantly.
Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and ConnectM is under no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
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ConnectM Technology Solutions, Inc.
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