DownstreamEnergy Strengthens Product Development Leadership With Former DTN Technologist.Business/Energy Editors & High-Tech Writers HOUSTON--(BUSINESS WIRE)--Jan. 18, 2001 DownstreamEnergy, a Web-enabled, supply chain management solutions provider for the refined petroleum products industry, has appointed Chuck Walden as director of IT and Telecommunications. In this important role, Walden will lead DownstreamEnergy's ongoing product development initiatives. The company recently released the production versions of its Web-enabled rack pricing and bill-of-lading data services, Price EnerChange(SM) and Volume EnerChange(SM), and has plans to continue to add to the EnerChange suite of products throughout 2001. Walden brings a wealth of industry and technical talent to DownstreamEnergy having previously served in senior technology management roles at both DTN See disruption-tolerant network and delay-tolerant network. and PetroCast. In these prior roles, he was responsible for software development, software support, technical client support as well as the development of B2B e-commerce (Business to Business Electronic-COMMERCE) Refers to one business selling to another business via the Web. See e-commerce. and Internet solutions. He has also been actively involved with a variety of industry and technology groups over the last decade including PIDX PIDX Petroleum Industry Data Exchange , NACS NACS National Association of Convenience Stores NACS National Association of College Stores NACS North American Catalan Society NACS North American Catalysis Society NACS Network Access Control System NACS National Advisory Committee On Semiconductors and DD&R. Said Walden, "I am now part of an organization where the board and executive management vigorously support development of the data aggregation and messaging systems demanded by the refined products community. I intend to make sure that our products dominate this space." "With the appointment of Chuck Walden, DownstreamEnergy has added significant product and technical domain expertise that will allow the company to continue to rapidly deliver new components of our comprehensive Web-enabled solution set," said Hugh James Hugh James was an Australian rules footballer who played in the VFL between 1909 and 1916 and, upon returning from military service, from 1919 to 1923 for the Richmond Football Club. He served in the AIF between 1916 and 1919 . , chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of DownstreamEnergy. "Chuck Walden is already making significant contributions to our customer-focused product development." DownstreamEnergy also announced the promotion of Mark Rizzo to vice president of Sales & Marketing. In his previous role as DownstreamEnergy's vice president of Sales, Rizzo and his team are credited with leading the company to exceed sales goals of paid subscribers during calendar 2000. By consolidating Marketing under Rizzo, DownstreamEnergy seeks to laser-focus its promotion budget in order to achieve maximum revenue growth. The company intends to leverage their impressive customer base that includes over 40% of the U.S. refining capacity. About DownstreamEnergy DownstreamEnergy is a Web-enabled, supply chain management solutions provider for the refined petroleum products industry that integrates and manages information between suppliers, marketers and retailers of gasoline, diesel and propane propane, CH3CH2CH3, colorless, gaseous alkane. It is readily liquefied by compression and cooling. It melts at −189.9°C; and boils at −42.2°C;. . Downstream Energy Corporation, a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. founded in 1999, is headquartered in Houston. The company's investors include: Insight Capital Partners, DSE's primary investor, www.insightpartners.com, a global private equity firm that invests in the business-to-business (B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business ) and related software infrastructure segments of the information technology markets and Lime Rock Partners, www.lrpartners.com, the premier private equity firm focusing on small cap opportunities in the energy industry. For more information access DownstreamEnergy's Web site at www.downstreamenergy.com |
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