Peter is a partner at Gersten Savage LLP, a law firm located in New York City, where he specialises in corporate and transactional law including securities offerings, venture capital, private equity, mergers, acquisitions and emerging growth companies. He earned a JD and MBA (Finance) from Pace University, New York, in 1998. Peter has served as legal counsel for Clean Power Technologies since December 2006 and was appointed to the Board of Directors in 2008.
Commenting on his new position, Peter said: "Since joining Clean Power in 2006, I have been consistently impressed with the management, as well as the uniqueness and commercial potential of the Company's technology. I am excited to be appointed to the position of Vice President, Corporate Strategy. With its revolutionary steam hybrid system now undergoing testing for major fleet partners, Clean Power has great opportunities on the immediate horizon and I look forward to continuing to work closely with management and executing on the Company's strategies."
Paul Burns has over seven years of CAD experience, with a particular emphasis on production design processes relating to rapid prototyping and product development. In his most recent role at Alfa Laval, a world class manufacturer of heat transfer and fluid management products, Paul was responsible for operational management strategies, including the development of an infrastructure to improve financial targets through improved production and machining efficiencies. Commenting on his appointment, Paul said: "I am very excited to be working with Clean Power Technologies and to know that the technology that I will be working on is both groundbreaking and crucial in this age of environmental and fuel cost consciousness. My product and process development experience, ranging from small component designs to complete assemblies, will be extremely helpful as we develop new hybrid systems to power vehicles of the future."
As a graduate of Mechanical and Manufacturing Engineering, Ian Lloyd also joins from Alfa Laval where, as an experienced Production Engineer, he managed a range of 14 precision engineering machines and operators. Ian's key achievements included the implementation of new and revised products and the related materials, machining, tooling, supplier and quality control strategies. Ian commented "I am extremely impressed with the technology that Clean Power is developing and I believe it has amazing potential, both here and overseas. I am looking forward to being a part of the Company's vibrant future and to contributing my precision engineering skills to the rapid roll-out of new products, production methods and testing regimes."
Mechanical engineer Gareth Storoszko has been responsible for both production and design engineering, cost cutting, quality and engineering design projects. He has particular expertise in mathematical analysis and problem solving and advanced computer simulations. Gareth said "My experience working with metals, heat and coating treatments will be invaluable as I help design and develop new machinery for Clean Power in its commercialisation phase. I welcome the opportunity to join such a visionary company and to helping Clean Power improve the global environment by reducing fossil fuel reliance and vehicle emissions."
Abdul Mitha, President and CEO of Clean Power, added: "I am delighted with these new appointments. Peter's strategic insight and expertise has been invaluable in the two years that he has been involved with Clean Power. He has a great understanding of the business and the strategic direction in which we are rapidly moving. As our new Vice President for Corporate Strategy, his experience in finance and operations will continue to add value to Clean Power Technologies as we evolve from the Development and Testing phase into revenue generation."
Mr Mitha concludes: "Design engineering work is central to the development of any strong project and it is even more important in for a company like Clean Power, where the 40% potential fuel saving provided by our innovative technology is truly world-changing. We are fortunate to have attracted three CAD Engineers whose talents and experiences are matched by their enthusiasm. I am impressed by their commitment to Clean Power's low carbon vision and look forward to the contributions that Peter, Paul, Ian and Gareth will undoubtedly make in their new roles as we continue to grow."
ABOUT CLEAN POWER TECHNOLOGIES
Clean Power Technologies is committed to developing hybrid fuel technology and alternative fuel for a range of vehicles, including locomotives, heavy trucks and light cars. The Company's proprietary technology significantly reduces pollution through its Clean Energy Storage and Recovery (CESAR) system, which takes otherwise wasted heat from the exhaust of a conventional combustion engine and modifies it through a heat recovery system to generate clean power for the vehicle.
Clean Power Technologies has cooperative research and development agreements in place with one of the USA's largest grocery chains, freight haulage companies and international engineering corporations.
Testing of the CESAR system on a Caterpillar C15 diesel engine has recorded a dramatic 40% improvement in fuel efficiency, with a corresponding reduction in the level of emissions. The Company is in advanced stage of the development of this engine, designed for the provision of auxiliary power and trailer refrigeration within the industrial vehicle and grocery truck industries.
The Company boasts a highly experienced engineering team, whose vision and technical capabilities are driving the implementation of this unique hybrid fuel technology. Clean Power Technologies operates out of its development facility in Newhaven, East Sussex, UK.
The Company is listed on XETRA on the Frankfurt Stock Exchange and is also traded on the OTC BB in the USA.
Clean Power's Clean Energy Storage and Recovery (CESAR) technology is designed to increase vehicle fuel economy and reducing emissions by capturing, storing and reusing otherwise wasted heat from the exhaust of a conventional combustion engine. A heat exchanger captures waste energy, which is then stored in the form of steam in an accumulator, for 'on demand' use either in the same 'primary' engine, or in a secondary vapour engine. Power can be produced solely by the secondary vapour engine even after the primary combustion engine has shut down.
The CESAR system can be used to power auxiliary truck systems, such as trailer refrigeration and cab cooling or heating, in regulatory 'no idle' and 'quiet' zones. In addition to initial truck applications, CESAR can be further applied in Clean Power's well developed passenger car programme and also in the locomotive and marine sectors.
Contacts: Clean Power Technologies Inc. Abdul Mitha President & CEO (403) 277-2944 or UK mobile: +44 (0) 782 436 5198 Email: Email Contact Clean Power Technologies Inc. 436-35 Avenue N.W. Calgary, Alberta Canada T2K 0C1 Website: www.cleanpowertechnologies.com Media enquiries: Abchurch Communications Limited Simone Alves / Monique Tsang / Justin Heath +44 (0) 20 7398 7728 Email: Email Contact Website: www.abchurch-group.com