IFC hires Sunovia's CFO

SARASOTA — Integrated Freight Corp. named Matthew Veal its new chief financial officer late last week. Veal comes to IFC from Sunovia Energy Technologies Inc., another Sarasota-based firm, where he served as CFO from 2004 until 2010.

Beyond his roles with IFC and Sunovia, Veal has previous experience as a financial executive. From 2004 to 2006, he served as acting CFO for Global Water Technologies Inc.; from 1996 to 2004, he was CFO for Tampa Bay Financial Inc., a venture capital firm; and from 1990 to 1996 he served as CFO for Teltronics Group, a telecommunications equipment manufacturer.

Integrated Freight is a relatively new firm, with just two years of reported revenues to date — although combined operating losses have exceeded $6 million so far. The firm updated its profitability picture in March.