Board of Directors

Dennis Townsend, Chairman of the Board

Dennis Townsend

Chairman of the Board of Directors

Dennis Townsend founded Townsend Capital, LLC in 1975, after beginning his investment career at Thomson McKinnon Securities, Inc., where he was one of the pioneers in the newly emerging field of tax-advantaged investments.


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Because of his tax expertise, he frequently advised tax attorneys and accountants on the analysis and structuring of these partnerships. Relying on his ability to understand the market, Mr. Townsend has guided Townsend Capital as it evolved from a registered securities broker dealer and investment advisory firm to a company that invests primarily for its own account. From purchasing empty buildings in Texas, to long-term net leases to credit tenants, to sale-leaseback transactions, to build-to-suit developments, to building laboratory research facilities for major universities, he has established lasting relationships with such clients as AT&T, Lucent Technologies, Tyco and the University of Pennsylvania.


In late 2006, Mr. Townsend predicted that the real estate industry was near its peak and set a course to divest the majority of its real estate holdings. With the sale of its primary real estate portfolio in 2007, Townsend turned its focus to various opportunities with the energy field, and formed Townsend Ventures. These new ventures included the acquisition of Encelium Technologies, a lighting controls company focused on delivering energy savings to commercial properties, and significant investments in Kokam Co., Ltd., Dow Kokam, LLC and Kokam America, Inc. (now KA Remainder), as well as domestic oil and natural gas exploration.

Mr. Townsend attended Johns Hopkins University and was a member of the staff that coached the lacrosse team to five NCAA championships. An avid golfer, he is also the founder of Hamilton Farm Golf Club in Gladstone, New Jersey.

Richard Cundiff, CEO, Vice Chairman of the Board

Richard Cundiff

President and CEO, Vice Chairman of the Board

Mr. Cundiff officially joined XALT Energy in 2016, having been actively involved in the investment, management and operations of XALT since its inception in 2008.  In 2015, Mr. Cundiff relocated to the Midland Battery Plant of XALT in order to oversee and participate in all major decisions of the company.


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The formation of XALT Energy is in large part due to the experienced supervision and expertise of Mr. Cundiff, as he has been a driving force in the formation of Townsend Ventures, LLC and its subsequent creation of its robust investment portfolio. He has been integral in the acquisition and successful disposition of many of the company’s investments including Kokam America, Inc., Encelium Technologies and Kokam Co. Ltd. Additionally, he was intimately involved in the formation, structuring, and capitalization of Dow Kokam, LLC, the joint venture between Townsend Ventures and the Dow Chemical Company, the predecessor of XALT Energy.


Prior to joining XALT Energy, Mr. Cundiff was Chief Operating Officer of Townsend Capital, LLC, where he was employed from 2004 through 2015. To Townsend, he brought with him nearly a quarter century of investment banking experience in the financing and capitalization of projects and companies.

Prior to joining Townsend Capital, Mr. Cundiff spent almost 25 years at McDonald Investments Inc., a KeyCorp. Subsidiary based in Cleveland Ohio where he held various positions, including Managing Director of Investment Banking.

David Townsend, Vice President

David Townsend

Vice President

For more than a decade, David Townsend has been instrumental in growing Townsend Capital, LLC to its current size, level of sophistication and breadth of services and expertise available to its clients.


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Today, Mr. Townsend maps the strategic direction of the company and manages the company’s day-to-day operations. He brings to Townsend Capital a unique perspective as well as extensive experience and expertise in financing, leasing, structuring, sale/leaseback transactions and like-kind exchange transactions.


In 2007, he and his father formed Townsend Ventures, and moved the Company’s focus from real-estate-related transactions to energy-related investments. Mr. Townsend serves as President of Townsend Ventures, LLC. This new venture includes the acquisition of Encelium Technologies as well as significant investments in Kokam Co., Ltd., Dow Kokam, LLC and Kokam America, Inc. (now KA Remainder).

In addition to his role in Townsend Ventures, Mr. Townsend serves as President of Hamilton Farm Golf Club, LLC, a related company that owns an exclusive, high-end private golf club in Gladstone, NJ.

Mr. Townsend was a starting player for the nationally-renowned lacrosse team at Johns Hopkins University, where he graduated with a degree in economics in 1993.


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