Powerball International Hires Strategic Planning Consultant.
WEST VALLEY CITY, Utah--(BUSINESS WIRE)--March 11, 2003
Powerball International Inc. (OTC BB: PRBL) is pleased to announce today that it has signed a consulting agreement with Patrick Schwartz, a management and strategic planning consultant. Schwartz will assist the company in formulating development, marketing and sales objectives for the company. The company previously announced the achievement of its initial objectives and goals established for the sodium pilot plant located in West Valley City, and is now intending to focus its efforts on sales, licensing and partnership opportunities for its technologies with industrial and commercial partners.
Schwartz, a former senior executive with Huntsman Corp., brings a wealth of sales, marketing and business experience to his consulting role. Schwartz will work with the board of directors, management and outside experts to assist the company in analyzing its technologies, defining strategic goals and objectives, and identifying market opportunities for the company.
"We are very pleased to have been able to retain Patrick Schwartz as a consultant during this transition period for Powerball. With his assistance, we hope to develop a comprehensive plan to move the company forward and maximize the potential for our technologies in the marketplace," stated Robert Ipson, Powerball's CEO.
Powerball is a development-stage company that has patented a proprietary technology to safely generate and store hydrogen as a solid material at room temperature and atmospheric pressure. The energy potential of hydrogen is carried in the chemical bonds of sodium hydride, which in the presence of water, releases hydrogen. The reaction that occurs is exothermic and requires no additional input of heat energy to release the hydrogen. The process supplies pure hydrogen on demand for energy applications without the need for expensive catalysts, compression or liquefaction. Hydrogen is used to power fuel cells, internal combustion engines, heating, food processing, and many industrial applications. Powerball has also patented a process for converting sodium hydroxide into elemental sodium, which is the basic raw material required for the hydrogen production technology.
For more information on Powerball International, visit www.powerball.net or call 801/974-9120.
This press release may include statements, which are considered "forward looking" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are identified by their use of terms and phrases such as "believe," "expect," "plan," "anticipate" and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from Powerball International's expectations. These factors include, but are not limited to, the following: (i) the cost and timing of development and market acceptance of Powerball International's hydrogen generation systems and other industrial products, (ii) competitive factors, such as price competition and new product introductions, (iii) other factors detailed from time to time in Powerball International's filings with the Securities and Exchange Commission.
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|Date:||Mar 11, 2003|
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