Arikara said he will continue to serve as an adviser to the Folsom-based company, which makes fuel cells for portable equipment. He's looking for another position in the energy industry with an established company, possibly in his homeland of India.

"The energy space is growing quickly," he said. "There are a wide array of things I want to follow. There is a lot of growth happening (in India), and it's happening faster (than in the United States)."

Jadoo has not selected a replacement for Arikara, who is chief technology officer and executive vice president of business. He's leaving the private company in good financial condition, with annual revenue of a few million dollars, he said.