HydroGen Corporation Appoints Three New Members to Board of Directors Including Two Independent Directors and One Financial Expert.CLEVELAND -- HydroGen Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : HYDG), a development stage company that manufactures multi-megawatt air-cooled phosphoric acid fuel cell Phosphoric acid fuel cells (PAFC) are a type of fuel cell that uses liquid phosphoric acid as an electrolyte. The electrodes are made of carbon paper coated with a finely-dispersed platinum catalyst, which make them expensive to manufacture. (PAFC) systems through its wholly-owned subsidiary HydroGen LLC, announced today the appointment of three new members to its Board of Directors. Mr. John Freeh, Dr. Howard-Yana Shapiro and Mr. Brian Bailys join the Board as directors, expanding HydroGen's Board to five members, including executive directors Dr. Leo Blomen, HydroGen's Chairman 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. , and Joshua Tosteson, HydroGen's President. Dr. Blomen said, "Our new board members bring a wealth of experience, and we look forward to the benefit of their wise counsel and active engagement. Their insights and knowledge will greatly facilitate the execution of our strategic plan as we work to bring HydroGen through the development stage and position it to achieve profitability. Mr. Freeh and Dr. Shapiro possess deep technical understanding of the industries and countries that complement HydroGen's business plan, while Mr. Bailys's background includes firsthand experience with developmental stage enterprises. We enthusiastically welcome them to our board." Mr. Freeh is the president of Lockheed Martin Systems Management, an $800 million management services company within Lockheed Martin's Technology Services operating unit. He is also responsible for the oversight and integration of all of Lockheed Martin energy-related activities including Nevada Technologies, Inc., Sandia, Inc., LMAES LMAES Lockheed Martin Advanced Environmental Systems , Inc., and a joint venture operating the Atomic Weapons Establishment The Atomic Weapons Establishment (AWE) is responsible for the design, manufacture and support of warheads for the United Kingdom's nuclear deterrent. AWE plc is responsible for the day-to-day operations of AWE. in the United Kingdom, AWEML, LLC. Prior to his current position, Mr. Freeh spent more than 27 years at KAPL, Inc., one of only two joint Department of Energy/Navy laboratories dedicated to Naval Nuclear Propulsion research, design, testing and training of reactor operators for the US Nuclear Navy. John also serves on the boards of The Red Cross, Burlington County N.J., and Cerebral Palsy of New Jersey. He holds a BS in Engineering Physics from Lehigh University and an MS in Electrical Engineering from Rensselaer Polytechnic University. Dr. Shapiro has been involved with sustainable agricultural and agroforestry ag·ro·for·est·ry n. A system of land use in which harvestable trees or shrubs are grown among or around crops or on pastureland, as a means of preserving or enhancing the productivity of the land. systems, plant genetics and food production systems around the world for more than 35 years. During his long and diverse career, Dr. Shapiro was a university professor for 15 years, twice a Fulbright Scholar, twice a Ford Foundation Fellow and a winner of the National Endowment for the Humanities National Endowment for the Humanities (NEH) U.S. independent agency. Founded in 1965, it supports research, education, preservation, and public programs in the humanities. Award. Dr. Shapiro has ongoing sustainability projects in Brazil, Panama, Ecuador, Ghana, Vietnam and Sulawesi concerning cacao cacao (kəkä`ō, –kā`–), tropical tree (Theobroma cacao) of the family Sterculiaceae (sterculia family), native to South America, where it was first domesticated and was highly prized by the Aztecs. agroforestry, agroecology, agroeconomics and landscape issues in the neo-tropics. He was an investor in Seeds of Change, and in 1991 he joined their board and held positions of increasing responsibility until the company was acquired by a multi-brand, internationally known food company in 1997. Following the acquisition, he became the Director of Plant Science for that company while maintaining his role as Vice President Agriculture/R&D for Seeds of Change. Additionally, he is the Director of the Multi-Disciplinary Research Unit, a collaboration between the international company and the University of California, Davis The University of California, Davis, commonly known as UC Davis, is one of the ten campuses of the University of California, and was established as the University Farm in 1905. . He was appointed to the Millennium Agriculture Assessment of The World Bank as an Author on the Global Synthesis in 2005, and in 2006 he will chair the organizing committee for a National Academy of Sciences international cacao science symposium. Brian Bailys is the Principal of The Bailys Group, a consulting firm he founded in 1993 to provide his high net worth client base income tax, estate tax and financial planning services. A certified public accountant Certified Public Accountant (CPA) An accountant who has met certain standards, including experience, age, and licensing, and passed exams in a particular state. since 1983, Mr. Bailys began his career as a Federal, State and Local tax specialist and an IRS An abbreviation for the Internal Revenue Service, a federal agency charged with the responsibility of administering and enforcing internal revenue laws. Audit Support person for the Michigan-based accounting and consulting firm of Plante and Moran. Mr. Bailys has participated in strategic planning with numerous "early stage" companies. He is currently serving on the board of Life Settlement Insights (a life settlement company) and Life-X (first online exchange for the sale of life insurance policies). Mr. Bailys has served as treasurer of the United Cerebral Palsy United Cerebral Palsy (UCP), sometimes known as United Cerebral Palsy Associations, is a network of affiliated groups in the United States which works to "advance the independence, productivity and full citizenship of people with disabilities" (from UCP's mission statement), Cleveland Chapter, a board member of the Parent Volunteer Association for retarded children and adults and the Beachwood Chamber of Commerce. He received his Bachelor of Science Noun 1. Bachelor of Science - a bachelor's degree in science BS, SB bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies Degree in Business Administration from Ohio State University Ohio State University, main campus at Columbus; land-grant and state supported; coeducational; chartered 1870, opened 1873 as Ohio Agricultural and Mechanical College, renamed 1878. There are also campuses at Lima, Mansfield, Marion, and Newark. in 1981, and he is a member of the Ohio Society of Certified Public Accountants. About HydroGen Corporation and HydroGen, LLC HydroGen Corporation, through its wholly-owned subsidiary, HydroGen, LLC, is a developer of multi-megawatt fuel cell systems utilizing its proprietary 400-kilowatt phosphoric acid fuel (PAFC) cell technology. Utilizing fuel cell technology originally developed by Westinghouse Corporation, the company targets market applications where hydrogen is currently available and other drivers favoring the adoption of fuel cells are present. Forward-Looking Statements Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions 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. Forward-looking statements are inherently unreliable and actual results may differ materially. Examples of forward-looking statements in this news release include statements regarding HydroGen's anticipated economically competitive fuel cell systems. Factors which could cause actual results to differ materially from these forward-looking statements include such factors as fluctuations in demand for HydroGen's products, HydroGen's ability to maintain strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of HydroGen's liquidity and financial strength to support its growth, and other information that may be detailed from time to time in HydroGen's filings with the United States Securities and Exchange Commission. HydroGen undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. |
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