Basin Water Announces Appointment of New Directors.RANCHO CUCAMONGA Rancho Cucamonga (răn`chō k 'kəmäng`gə), city (1990 pop. 101,409), San Bernardino co., S Calif. , Calif. -- Basin Water, Inc. (Nasdaq:BWTR) today
announced the appointment of two new directors, Stephen A. Sharpe and
Roger S. Faubel, to the Basin Water Board of Directors to serve as Class
III members with terms expiring in 2009.
Stephen A. Sharpe, 55, has been a consultant and capital markets advisor to many businesses as principal of NP Capital and Energy Partners, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control since 2002. From 1996 to 2002, Mr. Sharpe was Vice President and Principal Financial Officer of Peter Kiewit Sons', a construction and engineering company. Previously, he was Vice President of U.S. Generating Co., an energy company. Mr. Sharpe has over 15 years of Wall Street capital market experience with Shearson Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. , Lloyds Plc, and Chemical Bank. Mr. Sharpe received his B.A. in Economics from Rhodes College and an MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration in finance from Emory University. Roger S. Faubel, 58, established Faubel Public Affairs and has served as its President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. for the last 10 years. Prior to that, he served as the Director of Public Affairs for Southern California Edison Southern California Edison (or SCE Corp), the largest subsidiary of Edison International (NYSE: EIX), is the primary electricity supply company for much of Southern California. It provides 11 million people with electricity. until his retirement in 1997. He was re-elected in 2002 to the Santa Margarita Water District Board of Directors and is a founding board member of the Urban Water Institute. Mr. Faubel received his B.A. in English literature from the California State University, Fullerton California State University, Fullerton, commonly known as CSUF, CSU Fullerton, or Cal State Fullerton, is a part of the California State University system. The University is located in the city of Fullerton, California, in northern Orange County. . Effective April 30, 2007, Mr. Faubel will replace Mr. Scott Katzmann as a member of the Compensation Committee and the Nominating and Governance Committee, and Mr. Sharpe will replace Mr. Katzmann as a member of the Audit Committee. As of April 30, 2007, Basin Water will have only independent directors on each of its Board committees, as required by Nasdaq listing standards as of one year after its listing on Nasdaq. In connection with the appointment of Messrs. Faubel and Sharpe to the Board, Mr. Keith Solar was reappointed from Class III of the Board to Class I of the Board. Basin Water's Chief Executive Officer and Chairman of the Board Peter L. Jensen stated, "We are pleased to have attracted accomplished professionals such as Mr. Sharpe and Mr. Faubel, with diverse backgrounds and expertise to our Board, and I look forward to working with them. We believe the Board is configured to represent the best interest of all of our shareholders, and we look forward to gaining the new members' insight as we continue our growth in this exciting market." Basin Water, Inc. designs, builds and implements systems for the treatment of contaminated contaminated, v 1. made radioactive by the addition of small quantities of radioactive material. 2. made contaminated by adding infective or radiographic materials. 3. an infective surface or object. groundwater, providing reliable sources of drinking water drinking water supply of water available to animals for drinking supplied via nipples, in troughs, dams, ponds and larger natural water sources; an insufficient supply leads to dehydration; it can be the source of infection, e.g. leptospirosis, salmonellosis, or of poisoning, e.g. for many communities. Basin Water has developed a proprietary, scalable ion-exchange wellhead well·head n. 1. The source of a well or stream. 2. A principal source; a fountainhead. 3. The structure built over a well. wellhead Noun 1. treatment system that reduces groundwater contamination levels in an efficient, flexible and cost effective manner. Additional information may be found on the company's web site: www.basinwater.com. Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements, including expectations relating to the composition of the Board, the ability of the company to continue to grow and the continued service of members of the Board, involve risks and uncertainties, as well as assumptions that, if they prove incorrect or never materialize, could cause results to differ materially from those expressed or implied by such forward-looking statements. Actual results may differ materially from these expectations due to various risks and uncertainties, including: the company's limited operating history, significant operating losses associated with certain of the company's contracts, significant fluctuations in its revenues from period to period, its ability to effectively manage its growth, the success of the company's strategic partners, its long sales cycles, market acceptance of its technology, the geographic concentration of its operations and customers, its ability to meet customer demands and compete technologically, the company's ability to protect its intellectual property, regulatory approvals of the company's systems, changes in governmental regulation that may affect the water industry, particularly with respect to environmental laws, the company's ability to attract and retain qualified personnel and management members and the company's ability to manage its capital to meet future liquidity needs. More detailed information about these and other risks and uncertainties are contained in the company's filings with the Securities and Exchange Commission, including the company's Annual Report for the year ended December 31, 2006 on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. . The company assumes no obligation to update these forward-looking statements to reflect any change in future events. |
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