Cold Heat Strengthens Executive Team with New Vice President of Technology; Former Starbucks Executive Joins Board of Directors.

Business Editors

BELLEVUE, Wash.--(BUSINESS WIRE)--Jan. 13, 2004

Cold Heat(TM), the innovator of patented cutting-edge mobile heating technology, today announces the additions of Russell Borgmann as Vice President of Technology and Peter Maslen to the company's Board of Directors. The company recently closed its Series A funding with $2.5 million and will be launching a soldering tool by month's end - the first in a product line of battery-powered, cordless handheld heating tools and small consumer appliances.

"These additions to the Cold Heat team come at a critical stage as we launch our initial product offering and continue to develop designs for future releases. Russell is a very well respected technology manager with a proven track record in leading successful product launches," said Michael Parks, chief executive officer, Cold Heat. "Likewise, Peter's extensive and well rounded international perspective on fast changing business environments will provide Cold Heat with insights and long-term strategic initiatives."

Borgmann brings more than 20 years experience managing product development to Cold Heat where he will be responsible for driving product development. Prior to Cold Heat, Borgmann was Senior Product Manager at TeraBeam Corp., where he managed teams of optical, electrical, mechanical, software and systems engineers to build a number of free space optics products for major telecommunications carriers. Earlier in his career, Borgmann managed the R&D department at Coinstar, enabling the team to develop and manufacture a new product with added features and benefits for 25 percent less cost, saving the company more than $8 million annually. Borgmann has contributed to the design of numerous proprietary products in the telecommunications, consumer, biomedical and defense industries and holds one patent, with others pending.

"I truly look forward to being a part of Cold Heat's success in the years to come," commented Borgmann. "The company has the technical prowess, management philosophy and clarity of vision to become a household name consumers trust."

Peter Maslen joins seasoned executives on the Cold Heat board including Christopher Bayley, William Valenti, and Rowland Hanson. Maslen was most recently the president of Starbucks Coffee International, where he was responsible for the overall management, business development and operations of Starbucks in all international markets. An accomplished international entrepreneur who has lived and worked in Asia, Europe and the Americas, Maslen has held senior management positions at top multinationals including Mars, Inc., PepsiCo and Tricon where he was responsible for the development in Europe and Asia of the company's three core concepts - KFC, Pizza Hut, and Taco Bell.

About Cold Heat(TM)

Cold Heat (formerly Hyperion Innovations), the innovator in portable heating technology, creates and develops high-performance appliances, tools and materials that enable users to operate in a cordless, battery-powered environment. The company's Cold Heat technology will be available in a growing line of tools and small appliances, with a wide variety of additional applications currently in development. Led by a seasoned management group and a global team of scientists, the Cold Heat technology is powering products that will change the way daily tasks are completed. Cold Heat is based in Bellevue, Wash. More information is available at www.coldheat.com.