Sustainable Power Corp. Board of Directors Appoints Michael Garjian as Chairman of the Board, Chief Technology Officer, and Vice-Chairman of the Scientific and Technical Advisory Board
BAYTOWN, TX, Dec 28, 2009 (MARKETWIRE via COMTEX) — Sustainable Power Corp. (PINKSHEETS: SSTP) announced today that its Board of Directors has appointed Michael Garjian as Chairman of the Board, Chief Technology Officer, and Vice-Chairman of the Scientific and Technical Advisory Board. Following this board action, John H. Rivera, SSTP's majority stockholder, announced the transfer, by proxy, of all his stock voting rights to Mr. Garjian. “With this action, I am excited and confident that SSTP will continue to achieve everything I have been hoping for during my decades of development work,” announced Rivera, who is now focusing his efforts on innovations that will further the success of SSTP.
M. Richard Cutler will continue as President and Chief Executive Officer of the Corporation. “I welcome the addition of Michael Garjian who will continue to help with the significant responsibilities for understanding the technology and commercialization of our products that are resulting from the verification of the company's licensed process by Texas A&M University,” said Cutler. “His substantial expertise in biofuel technologies and other energy technologies, as well as his presence as a seasoned innovator, manufacturer, business advisor, scientist, and community economic development leader will serve the corporation well as we move forward.”
During 35 years as a manufacturer, Garjian was granted nine worldwide technology patents and employed more than 400 individuals manufacturing and distributing his inventions globally. His past work was derived from his knowledge in sciences and disciplines including agriculture, paper manufacture, materials science, glass manufacture and fabrication, plasma physics, high energy electronics, alternative fuels, biofuel production, biofuels in transportation, and biochar.
Of his appointment to the SSTP board, Garjian said, “I am honored by my appointment as Chairman of the SSTP Board of Directors. I look forward to working with the board of directors, President and CEO M. Richard Cutler, and company employees to meet our corporate and community goals.
“With the confirmation of the company's licensed process SSTP has entered a new era and we will move ahead immediately to begin commercialization of SSTP's worldclass Vertroleum biofuels, biogases and biochar products. Our corporate goal will be to provide these products at competitive prices regardless of the price of fossil fuels and to achieve lasting profitability and sustainable growth for the benefit of our employees, stockholders, and the community.”
About Sustainable Power Corp.
Sustainable Power Corp (PINKSHEETS: SSTP) is a green energy provider focused on environmentally safe biofuels (Vertroleum(R)), biogases, and biochar. The company has an exclusive license in the United States for a renewable fuel source able to be produced from non-food organic feed stock. http://www.sstp.us
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors available from the Company.
Investor Contact:
Riverview Capital Enterprises
Jon Barkman
(866) 845-0105
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