February 9, 2010 (FinancialWire) — Entech Solar, Inc. (OTCBB: ENSL) said that David Gelbaum, the company’s chairman and trustee of The Quercus Trust, a major shareholder in Entech, has become chief executive officer of the company.

Gelbaum will replace Frank W. Smith, who has served as the company’s CEO since March of 2008. Smith, while stepping down from his CEO role, will continue to serve the company in an advisory capacity during Gelbaum’s transition into his new role, and will retain his seat on the company’s Board.

The company also said that Gelbaum, through The Quercus Trust, has invested through a private placement agreement, an additional $600,000 in Entech in exchange for Entech Solar restricted common stock at a purchase price of $0.08 per share.

Texas-based Entech Solar is a developer of renewable energy technologies and sustainable daylighting solutions for the commercial, industrial and utility markets.

Entech Solar designs concentrating solar modules that provide both electricity and thermal energy as part of its ThermaVolt product line and electricity only as part of the SolarVolt product line.

The company also manufactures and markets the Entech Tubular Skylight, a tubular skylight used for commercial and industrial green building initiatives.

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