Ocean Power Corporation Hires Former Chairman and CEO of Hydrogen Burner Technology, Inc.
EL DORADO HILLS, Calif., Jun 27, 2001 (BUSINESS WIRE) -- Ocean Power is pleased to announce the hiring of David Moard to head its subsidiary, Powerco US, Inc., which was recently formed for the purpose of owning, developing, marketing and selling distributed power and water generation equipment in the United States and Canada.
Joe Maceda, President of Ocean Power Corporation, described the hiring of David Moard as "a coup for the Company in acquiring the services of one of the earliest and most capable players in the alternative and distributed power field."
Mr. Moard is ideally qualified by background and experience to maximize the business and profit potential of Powerco. Mr. Moard is the former Chairman and CEO of Hydrogen Burner Technology, Inc. As the co-founder and CEO of Hydrogen Burner Technology, he took the company from its inception to its current status as a primary supplier worldwide of hydrogen generation systems for fuel cells as well as a significant player in the field of on-site hydrogen generation for the merchant gas market.
Although Mr. Moard recently stepped down as Chairman and CEO of Hydrogen Burner Technology, Inc., he will continue as a part time consultant to support the growth of his former company while pursuing his larger interest in the field of distributed power generation, a field in which he has a wealth of experience.
Prior to his co-founding of Hydrogen Burner Technology, Inc., he was assigned by Southern California Gas to serve as an executive with the Gas Research Institute working on the deployment of 40 kW and 200 kW fuel cells manufactured by United Technologies. His responsibilities included deregulation, amendment to local and national codes and industry standards to allow for distributed power generation in an environment that previously favored centralized power generation. Prior to that, Mr. Moard led the initial micro-turbine development and testing of Stirling engines in the mid-1980's. In the 1970's Mr. Moard was responsible for implementation of solar energy project development for Southern California Gas as well as the commercialization of cogeneration equipment and the deployment of internal combustion engines to customers.
About his new position Mr. Moard said, "While at Southern California Gas and Hydrogen Burner Technology, Inc., I worked with builders, developers and large corporations to identify the appropriate energy equipment that would provide security of supply and diversity of service at a savings to energy customers in a changing environment. In working with Ocean Power, I will be able to supply, as well as recommend, solutions to these customers from the portfolio of products available and in development by Ocean Power. This is an exciting opportunity."
The above statements in regard to Ocean Power which are not purely historical are forward-looking statements including Ocean Power's beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to Ocean Power as of such date. It is important to note that actual outcome and the actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technological, legislative and marketplace changes.
CONTACT: Ocean Power
Blair Aiken, 212/618-1712.
www.pwre.com
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- To get a deeper look at David Moard's prior company, their web site is: hydrogenburner.com |
